All Trustees articles – Page 18
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News
New pensions act offences have ‘far-reaching consequences’, LCP warns
On the go: New powers granted to the Pensions Regulator by the Pension Schemes Act could see directors, lenders and trustees made criminally liable for their mistakes, LCP has warned.
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OpinionTrustees must take action to prevent admin operational issues
A scheme’s financial covenant is the trustees’ primary concern, but contingency plans should also be in place for managing ongoing administration should an employer fail.
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NewsNew DB funding code could be delayed until 2022
The Pensions Regulator has issued an interim response that experts say could presage meaningful changes to the final version of the defined benefit funding code, which is likely to be delayed until 2022.
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News
Trustees should monitor sponsor longevity when assessing covenant
On the go: Sponsor longevity is a vital part of covenant assessment, requiring professional judgement and a range of strategic tools, according to a new report by the Employer Covenant Practitioners’ Association.
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News
Calls for actuaries to offer strategic advice as schemes target endgame
An industry group is proposing a radical change in the actuarial role, suggesting these professionals should step away from a technical specialist position to offer strategic advice, while moving away from triennial valuations.
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PodcastsPodcast: Economic uncertainty, DC consolidation, ESG to mark 2021
Podcast: Economic uncertainty from the pandemic and the aftereffects of Brexit, solving the small pots problem and consolidation in the defined contribution universe, and yet more environmental, social and governance regulation are the themes to watch out for this year. These are the predictions for the pensions industry in 2021 from Marc Hommel, senior pensions adviser at EY-Parthenon, and Sue Pemberton, head of technology and DC consulting at Premier Pensions.
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News
Trustees cannot outsource responsibility for cyber risk
On the go: Trustees bear ultimate responsibility for managing cyber risk even when they outsource administration to a third party, and must ensure they carry out due diligence, according to a new report.
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News
Trustee flagged as scam concern banned over ‘serious’ failings
On the go: The Pensions Regulator has banned the corporate trustee of the Audax Pension Trust from acting as a trustee, following concerns of improper management and links to potential scam activity.
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OpinionOnline trustee meetings: You’re on mute!
With three rounds of quarterly online trustee meetings behind us, it is unlikely we shall return to traditional governance models of every meeting being in person.
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News
TCFD reporting requirements leave too little time for compliance
On the go: Almost half of respondents to a poll carried out by Eversheds Sutherland expressed a fear that trustees will not have time to comply with new climate change reporting requirements before they are introduced.
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OpinionThe growing appetite for ESG exclusions
Pension schemes are increasingly focusing on integrating environmental, social and governance considerations into their investment strategies.
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News
Threat of TPR action forces changes to merchant navy trustee board
On the go: A four-year bitter dispute over the running of a naval industry pension scheme has finally been brought to a close by the Pensions Regulator, after it identified governance failings that had cost the scheme £1m.
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PodcastsPodcast: Trustees advised to self-certify before Christmas
Podcast: Jo Myerson, trustee director at Ross Trustees, tells Pensions Expert it is important that trustees comply with the Competition and Markets Authority’s self-certification rules early in order to avoid a mad, post-Christmas dash to meet the January 7 deadline. She is joined by David Rae, head of strategic client solutions at Russell Investments, in an episode also covering insolvencies, superfunds and the fallout from the reform of the retail price index.
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NewsOmbudsman rejects ex-plumber appeal to dismiss section 75 debt
The Pensions Ombudsman has rejected an ex-plumber’s appeal against paying £977,000 in Section 75 debt, as an updated trustee board membership tries to address historical issues in the Plumbing & Mechanical Services (UK) Industry Pension Scheme.
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News
RPI reform drives up inflation hedging cost
Demand for inflation hedging is now returning after it was suppressed during the government’s consultation on the retail price index. However, the limited supply of index-linked bonds is itself having an inflationary effect, according to Insight Investment.
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NewsWeekly roundup: It’s not easy being Green
Welcome to Pensions Expert’s roundup of a week in which we bade farewell to a few of the high street’s better-known names, and the Pension Protection Fund brightened everyone’s mood with its new doomsday scenario.
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News
Alternative strategies could wipe out UK’s £190bn DB deficit
On the go: Alternative approaches to scheme funding and investments could eliminate the UK’s current £190bn defined benefit pension deficit, according to new analysis by PwC.
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News
GardaWorld offers G4S trustees £770m funding package
On the go: Trustees of the G4S pension scheme have been offered a £770m funding package by Canadian security company GardaWorld, the latest development in its attempt at a hostile takeover of the UK outsourcing company.
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News
Arcadia, Debenhams the first high street dominoes to fall
High street retailer Debenhams became the latest domino to fall following the collapse of Philip Green’s Arcadia Group on Monday, with the pension schemes of both now entering the Pension Protection Fund assessment period.
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NewsGreen pressured to save Arcadia pension schemes
On the go: Philip Green is being pressured to “make good” on promises to 10,000 members of the Arcadia pension scheme as his retail empire is on the brink of filing for administration, which would leave the scheme in the Pension Protection Fund.