All Trustee boards articles – Page 11
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News
Covid-19 could lead to 75% hike in deficit repair contributions
Deficit repair contributions may need to increase by 75 per cent if defined benefit schemes are to meet their recovery plan end dates, according to analysis published by the Pensions Regulator.
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OpinionTrustees must face hard governance truths after Covid shake-up
Our daily lives will inevitably change once the Covid-19 crisis is over.
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FeaturesDoes lockdown shift leave pensions exposed to cyber crime?
Analysis: Covid-19 is not the only invisible threat looming over some of the UK’s most vulnerable citizens.
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NewsBA trustees disembark as destination comes into view
A British Airways defined benefit scheme is shrinking its trustee board size, due to decreased workload after a buy-in and successfully weathering the Covid-19 funding storm.
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News
Trustee boards display unacceptable lack of diversity
On the go: The Pensions and Lifetime Savings Association has published a guide to improving diversity and inclusion in pensions, amid enduring concerns over groupthink and prejudice in the trust-based system.
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News
Aon’s merger with Willis Towers Watson to create $80bn giant
Aon and Willis Towers Watson have agreed on a merger, which will see the companies creating the UK’s largest pensions consulting firm and a worldwide insurance broker worth $80bn (£61bn).
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News
TPR to test trustees’ knowledge in bid to improve governance
The Pensions Regulator plans to conduct checks on trustees’ knowledge to assure governance standards in the industry, and has promised to consider appropriate action where they fall below expectations.
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News
Third of schemes facilitating financial advice to members
On the go: One-third (34 per cent) of defined benefit scheme trustees are facilitating financial advice for their members as they approach retirement, new research found.
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News
Royal London issues guidance for trustees when appointing IFAs
On the go: There is no right answer to whether trustees should be appointing financial advisers to help members make retirement decisions. However, doing nothing is not a risk-free option, a new policy paper from Royal London and Eversheds Sutherland has stated.
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News
Disability charity boss stole £250k from scheme
On the go: The former head of a charity for the disabled has admitted defrauding its pension scheme out of more than £250,000.
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Features
Barnet sees improvement in admin following regulatory intervention
The London Borough of Barnet Superannuation Fund has introduced a range of new internal controls to improve its administration in response to sustained criticism of its service levels and intervention by the Pensions Regulator.
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OpinionIntroduction of professional trustees should be gradual
The Pensions Regulator’s recent consultation on the ‘Future of trusteeship and governance’ received more responses than ever before, at 114.
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Features
Catherine Howarth: ESG statements are just the start
Pension schemes are engaging with issues such as climate change more than ever before, but there is still a lot of work to do before the industry starts seeing real implementation and delivery, says ShareAction’s chief executive, Catherine Howarth.
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OpinionDC schemes: Is it time for a reboot?
The Work and Pensions Committee has its sights set on improving pension costs and transparency, and while Frank Field and colleagues have some useful suggestions for the industry, they should perhaps be encouraged to go further.
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News
Skeleton staff levels pose hidden dangers for pension funds
On the go: Smaller pension schemes may be underestimating the risks posed to their funds by trustee governance gaps and over-reliance on key individuals.
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News
DB governance not up to scratch, finds XPS
On the go: Only 22 per cent of pension schemes have a defined plan of action if their funding level falls, according to a recent XPS Pensions governance survey, which found huge variations in standards of scheme management across the sector.
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PodcastsPodcast: The future of trusteeship
Podcast: Is there a big difference in governance standards between boards with a professional trustee and boards without? Should lay trustees have to demonstrate how they have acquired a minimum level of knowledge and understanding? And what can be done to increase diversity on boards? In this episode, Laura Andrikopoulos, head of governance consulting at Hymans Robertson, discusses some of the Pensions Regulator’s ‘Future of trusteeship and governance’ consultation proposals, and what impact they might have on the industry.
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OpinionThe mirage of independence
What does independence mean to you? Does it mean being free of control or influence by third parties? Does it mean making decisions without fear or favour?
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FeaturesUS industrial giant completes sectionalised merger of UK schemes
US conglomerate Honeywell has gone ahead with proposals to merge three of its UK defined benefit schemes on a sectionalised basis, in a bid to lower costs and streamline governance.
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FeaturesLloyds Banking Group completes second trustee board merger
Lloyds Banking Group now has a single trustee board for its four largest pension schemes, after completing its second pension trustee board merger in three years.