All Trustees articles – Page 16
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NewsTPR’s new code of practice has ‘major implications’
The Pensions Regulator’s proposed new code of practice has “major implications” for pension schemes, introducing a raft of new duties and requirements around climate change, stewardship, investment and administration, experts have said.
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FeaturesAbsent trustees hamper scheme decision-making during pandemic
Absent trustees hamperscheme decision-makingduring pandemicWith some schemes temporarily suspending operations due to absent trustee board members, more guidance is needed on how best to manage unforeseen absencesEnterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, sans-serif;}.sh_embed * {-webkit-box-sizing: border-box;-moz-box-sizing: border-box;box-sizing: border-box;}.sh_embed .sh-embed-bg {position: absolute;width: 110%;height: 110%;top: ...
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NewsTax ‘super-deduction’ could leave DB schemes short-changed
A “super-deduction” introduced in the Budget could see less money available to clear pension deficits, experts have warned, as businesses look to take advantage of the tax break.
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OpinionHow scheme trustees can make implementation statements matter
Since October 2020, occupational pension schemes have been required to produce a publicly available implementation statement as part of their annual report and accounts process.
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University employers urge USS to reconsider its valuation outcomes
On the go: Universities UK, which represents 340 Universities Superannuation Scheme employers, has written to the trustees of the scheme urging a rethink of its valuation outcomes.
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Opperman urges pension schemes to share scam data
On the go: The minister for pensions and financial inclusion has urged pension schemes to share scam data with the Pension Scams Industry Group, with the goal to get a real coverage of the issue.
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NewsTPR’s criminal powers draft policy fails to repeal industry concerns
The Pensions Regulator’s draft guidance on its new criminal powers, published on Thursday, failed to allay fears about the new sanctions, since it will be able to prosecute anyone in connection with an offence and will no longer be bound by limitation periods.
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NewsConcerns remain as DWP’s climate change consultation closes
Despite welcoming the government’s proposed measures on climate risk, industry experts have highlighted several outstanding concerns as the new rules need more clarity and risk a “herd mentality when it comes to metrics and targets”.
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PPF 7800: Schemes in surplus for first time in two years
On the go: The position of the UK’s 5,318 defined benefit pension schemes moved into surplus for the first time in two years, with improvements in funding positions driven by increased bond yields, according to the PPF 7800 index for February.
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NewsFraud Compensation Fund to begin processing cases within 18 months
The Fraud Compensation Fund could begin processing cases through to settlement within 12-18 months, a meeting of the Transparency Task Force was told on Monday.
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Trustees must ‘act now’ on fiduciary manager tenders
On the go: Thirty-eight per cent of defined benefit scheme trustees are planning to review their manager before June, according to a poll from Hymans Robertson, creating the risk of a “capacity crunch” as the Competition and Markets Authority’s retendering deadline approaches.
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TPR: Master trusts have ‘work to do’ on investment knowledge
On the go:Master trusts still have “work to do” to improve their trustees’ investment knowledge, according to Geoff Cheetham, principal investment consultant at the Pensions Regulator.
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DWP delays fiduciary management consultation response
On the go: The Department for Work and Pensions’ response to the consultation on trustee oversight of investment consultants and fiduciary managers has been delayed until 2022.
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LGPS authorities expected to justify new pension powers
On the go: Local Government Pension Scheme administering authorities will be expected to justify the use of their new powers around reviewing employer contributions, spreading exit payments, and setting up deferred debt arrangements.
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NewsPodcast: Budget 2021 - ‘Reckless conservatism’ in DB landscape
Podcast: Wednesday’s budget did not go far enough to counter the “reckless conservatism” in the defined benefit landscape when it comes to risk and growth assets, hampering the government’s drive to unleash pensions on the post-pandemic recovery, according to Conservative party peer baroness Ros Altmann. She is joined by Isio partner Mike Smedley, in a discussion that also includes the lifetime allowance freeze and what was missing from the chancellor’s statement.
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TPR calls for neurodiversity to be promoted in D&I debate
On the go: Neurodiversity is “really important” to achieve diversity and inclusion in the pensions sector, according to David Fairs, executive director of regulatory policy, analysis and advice at the Pensions Regulator.
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NewsBT, Ford and M&S schemes consider legal challenge on RPI reform
The trustees of the BT, Ford and Marks and Spencer pension schemes have been granted an extension to the period in which they can consider filing for judicial review of the proposed alignment of the retail price index with the consumer price index including housing costs.
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NewsCan UK councils rent their own streets to fund pensions?
Several US public schemes have embraced unusual means of securing funding, including renting property to themselves. Although these tactics cannot be used across the Atlantic, the post-Covid landscape could see a variety of new strategies being deployed in the UK.
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OpinionSchemes should take a practical approach to GMP transfers
In November 2020, the High Court handed down a ruling on the equalisation of past transfers with guaranteed minimum pensions, which means trustees will now have to revisit 30 years of transfer data.
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FeaturesTrustees facing up to 50% liability insurance premium hike
Trustees facing up to 50% liability insurance premium hike Cost of dealing with claims and new legislationis forcing insurers to increase premiums Enterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, sans-serif;}.sh_embed * {-webkit-box-sizing: border-box;-moz-box-sizing: border-box;box-sizing: border-box;}.sh_embed .sh-embed-bg {position: absolute;width: 110%;height: 110%;top: -5%;left: -5%;z-index: -1;background-color: rgba(0,0,0,.8);}.sh_embed ...