All articles by Tom Dines – Page 4
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NewsStaveley agrees £73.6m recovery plan
The Staveley Pension Scheme has agreed a new, £73.6m recovery plan with its sponsoring employer after its most recent actuarial valuation found a £100m deficit.
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NewsState of the nation: What's going on in DC accumulation?
One of the spectres that hung over the announcement of freedom and choice in the 2014 Budget was the fear the proposition would be so attractive people would abandon their defined benefit schemes to make the most of the flexibility.
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Proposed early exit charge cap gets mixed response
The Financial Conduct Authority yesterday proposed capping exit charges at 1 per cent of pot value for existing contracts, while banning them altogether for future contracts.
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Hogg Robinson pays £12.8m in rectification case
Corporate travel company Hogg Robinson has incurred £10.5m in past service costs and £2.3m in legal costs following rectification of a mistake in a deed of amendment to the scheme.
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NewsNetwork Rail plans £19m savings following NI cost hike
Network Rail expects to save around £19m annually following a swath of amendments to two of its schemes to mitigate the increased costs of contracting-out cessation, as many schemes either absorb the cost or close.
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Nilgosc to allow lump sum contributions
The Northern Ireland Local Government Officers Superannuation Committee plans to ask for upfront deficit contributions for this year’s LGPS valuation from its employer members as the public sector in Northern Ireland shrinks.
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Queen's speech promises mastertrust regulation
Long-anticipated mastertrust legislation was announced in the Queen's speech this week, providing protection for consumers and increased powers for the Pensions Regulator, but details are still sparse.
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DWP launches online tracing site as demand booms
The Department for Work and Pensions has launched a new website for the government's pension tracing service, as the number of people seeking their deferred pots has ballooned over the past decade.
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FeaturesSainsbury's marks down deficit by £262m
Sainsbury’s Pension Scheme has reduced its post-tax deficit by £262m in the past year, following exceptional employer contributions and an increase in the discount rate.
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NewsLGPS calls for details of government intervention
Local government pension experts have called on the government to give more details regarding controversial plans to introduce intervention powers for the secretary of state over investment decisions.
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FeaturesHalcrow plots rescue of DB scheme
Engineering company Halcrow’s pension scheme is expected to agree a liability-management exercise in coming weeks after the High Court ruled a previous proposal was illegal.
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PPI calls for industry to judge charges holistically
Schemes should not put undue focus on charges when assessing value for money, the Pensions Policy Institute said last week, after research showed charge levels do not necessarily correlate with outcomes.
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NewsPensions unfair to younger generation, industry says
The current pension system is unfair to the younger generation, the majority of participants at a debate hosted by professional trustee company Law Debenture this week agreed.
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FeaturesNationwide targets 30% in illiquids
The Nationwide Pension Scheme is struggling to find suitable illiquid investments as it targets 30 per cent of its portfolio in the assets, the scheme’s chief investment officer has said.
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BHS collapse raises questions for the regulator
The Pensions Regulator is investigating the BHS Pension Scheme as the sponsoring employer enters insolvency, but some experts queried why the regulator did not act sooner to secure the ailing scheme.
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FeaturesAsda shops for income streams with £9m cinema purchase
Asda Pension Fund has bought a £9.1m multiplex cinema as part of an ongoing property programme, as schemes continue to lap up real assets for their portfolios.
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Consultations to flesh out details of secondary annuity market
The Financial Conduct Authority and HM Revenue & Customs have both launched consultations to shed further light on how the secondary annuity market could work, but questions were raised about the projected level of take-up.
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ABI launches consultation on jargon-busting to empower members
The Association of British Insurers has this week launched a consultation and draft guide aimed at simplifying the language used to explain freedom and choice to savers.
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Regulator announces mastertrust crackdown
The Pensions Regulator has announced plans to crack down on poorly governed mastertrusts, as auto-enrolment begins to show clear winners and losers among schemes.
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TPAS call volumes balloon since freedoms
The Pensions Advisory Service has seen a 71 per cent increase in enquiries since the introduction of freedom and choice in April last year, showing the need for accessible guidance.