Pension Funds Insider

Pension Funds Insider brings the latest pensions news and industry insights; from investment and governance updates to new mandate appointments and pensions regulatory information.

Governance

Image for PLSA says 'affordability challenges' more significant, in response to DB Green Paper

PLSA says 'affordability challenges' more significant, in response to DB Green Paper

18 May 2017

The Pensions and Lifetime Savings Association (PLSA) has published its response to the Department of Work and Pensions (DWP) Green Paper on Defined Benefit (DB) schemes

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Image for ABI to move Pensions Dashboard to next phase

ABI to move Pensions Dashboard to next phase

18 May 2017

The Association of British Insurers (ABI) is taking the Pensions Dashboard project to the next phase, after successfully developing a prototype on behalf of HM Treasury.

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Image for Joanne Segars to leave the PLSA

Joanne Segars to leave the PLSA

28 April 2017

The chief executive of the Pensions and Lifetime Savings Association (PLSA), Joanne Segars, has announced she is leaving after 12 years to pursue a portfolio career.

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Image for Pensions questions after snap general election announcement

Pensions questions after snap general election announcement

20 April 2017

Pensions experts are speculating about the future, after the Prime Minister called for a general election in June this year, two years earlier than scheduled.

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Image for PLSA launches best practice guide for Government pension schemes

PLSA launches best practice guide for Government pension schemes

31 March 2017

The Pensions and Lifetime Savings Association (PLSA) has launched a guide for employers participating in a Local Government Pension Scheme.

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Image for Qrops crackdown in spring Budget

Qrops crackdown in spring Budget

10 March 2017

A crackdown on moving a UK pension offshore, and cuts to the money purchase annual allowance, were the big-ticket items for the pensions industry in the 2017 spring Budget, announced earlier this week.

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Image for PLSA launches diversity initiative

PLSA launches diversity initiative

03 March 2017

The Pensions and Lifetime Savings Association (PLSA) has launched a campaign to improve diversity on trustee boards.

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Image for Government should postpone MPAA changes, says Fidelity

Government should postpone MPAA changes, says Fidelity

16 February 2017

Fidelity International has urged the Government to consider four key questions, ahead of a proposed cut to amount of money people can pay into their pensions.

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Image for Pensions minister to speak at Trustee event

Pensions minister to speak at Trustee event

03 February 2017

The pensions minister will be the next speaker at an Association of Member Nominated Trustees (AMNT) member event.

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Image for Report shows gap in financial knowledge

Report shows gap in financial knowledge

03 February 2017

A gap in financial knowledge could impact the retirement savings of a huge number of people, according to a new report from MetLife UK.

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Image for Holistic approach to pensions needed, says PTL

Holistic approach to pensions needed, says PTL

12 January 2017

The government has been urged to take a more holistic approach to pensions, by independent trustee and governance provider, Pitmans Trustees (PTL).

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Image for 'No increase to state pension age' says PLSA

'No increase to state pension age' says PLSA

06 January 2017

The Pensions and Lifetime Savings Association (PLSA) has responded to the Independent Review of the State Pension Age by calling for no further increase to the age people receive their state pension.

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Image for DB scheme operating costs up 37%

DB scheme operating costs up 37%

08 December 2016

New findings from the Pensions and Lifetime Savings Association (PLSA) show the cost of operating a Defined Benefit (DB) scheme is up by 37% year on year.

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Image for Brexit - the story continues

Brexit - the story continues

25 October 2016

When will Brexit negotiations commence, how long will they continue, and will Britain even be able to look beyond the referendum debate?

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Image for PLSA announced three new council members

PLSA announced three new council members

13 October 2016

The Pensions and Lifetime Savings Association (PLSA) has added three new members to its Defined Benefit and Defined Contribution councils.

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Image for ICI Pension Fund completes five buy-ins

ICI Pension Fund completes five buy-ins

06 October 2016

ICI Pension Fund has completed five buy-ins since March, insuring more than £2.5bn liabilities over the same period.

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Image for PASA call on industry to raise standards

PASA call on industry to raise standards

29 September 2016

The Pension Administration Standards Association (PASA) has announced the launch of the campaign #GetInvolvedOctober.

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Image for DB pensions at risk from lack of sponsor default plan

DB pensions at risk from lack of sponsor default plan

22 September 2016

The second annual survey of independent trustees by pensions and benefits consultancy Hymans Robertson, has found 'covenant risk' is not being sufficiently accounted for by DB schemes.

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Image for Schemes lack independent advice for fiduciary managers, survey says

Schemes lack independent advice for fiduciary managers, survey says

02 September 2016

A survey of more than 100 pension scheme managers and trustees found a high proportion of schemes do not seek independent monitoring of their fiduciary manager.

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Image for Interest cut adds pressure to pension schemes

Interest cut adds pressure to pension schemes

15 August 2016

Pension funds are under increasing pressure following the Bank of England's announcement it is cutting the base rate of interest to 0.25%.

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Image for Record high pension freedom payments

Record high pension freedom payments

04 August 2016

The number of people taking advantage of pension freedoms hit an all-time high between April and July this year, as 159,000 people accessed £1.7bn of their pension savings.

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Image for PPF in strong financial position

PPF in strong financial position

28 July 2016

The Pension Protection Fund (PPF) is in a strong position to face the future, according its latest figures.

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Image for Government report says leadership failures led to BHS collapse

Government report says leadership failures led to BHS collapse

28 July 2016

A report from the department of Work and Pensions, and Business, Innovations and Skills Committees blamed a "litany of failures" for the collapse of high street retailer BHS.

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Image for PLSA guidance on investment data

PLSA guidance on investment data

21 July 2016

The Pensions and Lifetime Savings Association (PLSA) has published a toolkit for pension schemes and investors.

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Image for The new cabinet is announced

The new cabinet is announced

20 July 2016

Stephen Crabb steps down and Damian Green steps up as Work and Pensions Minister

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Image for PLSA responds to British Steel pension scheme consultation

PLSA responds to British Steel pension scheme consultation

30 June 2016

The Pensions and Lifetime Savings Association (PLSA) has published a response to the British Steel Pension Scheme (BSPS) consultation.

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Image for Trustees need to be nimble around Brexit vote

Trustees need to be nimble around Brexit vote

09 June 2016

Pension schemes need to prepare to move swiftly in the countdown to the EU referendum, according to investment consultants LCP.

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Image for Selling assets is biggest risk to DB schemes, say CFOs

Selling assets is biggest risk to DB schemes, say CFOs

02 June 2016

One in five CFOs say the biggest risk to their defined benefit (DB) scheme is having to sell assets at depressed prices to meet pension payments, according to new research.

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Image for PLSA launches guidance to support local authority schemes

PLSA launches guidance to support local authority schemes

19 May 2016

The Pensions and Lifetime Savings Association (PLSA) is publishing a series of guides to support employers and local authority funds participating in the Local Government Pensions Scheme (LGPS).

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Image for Pension freedoms: one year on

Pension freedoms: one year on

28 April 2016

As the Government marks the first anniversary of the most significant pension reforms for a generation, official figures reveal that 230,000 people have accessed their pension pots.

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Image for Exciting time for industry to innovate, says Baroness Altmann

Exciting time for industry to innovate, says Baroness Altmann

21 April 2016

The UK is in the middle of a pensions and retirement revolution, according to pensions minister Baroness Ros Altmann.

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Image for Decline in number of DB professionals slower than predicted

Decline in number of DB professionals slower than predicted

14 April 2016

The number of individuals working in defined benefit (DB) roles has fallen by 4 per cent to 37 per cent over the past five years, according to new research from The Pensions Management Institute (PMI).

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Image for 2016 – The year to get to grips with pension freedoms

2016 – The year to get to grips with pension freedoms

14 April 2016

The new pension freedoms are not so new anymore, yet more people retiring today are likely to get a poorer retirement outcome compared to those retiring before the introduction of pension freedoms. This can't be allowed to continue.

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Image for Think tank report looks at future of pensions

Think tank report looks at future of pensions

08 April 2016

New analysis from the International Longevity Centre UK (ILC-UK) paints a "bleak picture" for future pensioners.

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Image for New qualification to help avoid advice trap

New qualification to help avoid advice trap

01 April 2016

The Pensions Management Institute has launched a Certificate in Pension Scheme Member Guidance.

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Image for DC – Governance standards

DC – Governance standards

24 March 2016

With more and more focus shifting toward DC schemes, trustees must be ready.

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Image for The countdown to the end

The countdown to the end

24 March 2016

DB – end of contracting out 6/4/16, HMRC registration ends 5/4/16

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Image for PLSA launches DB taskforce

PLSA launches DB taskforce

11 March 2016

A taskforce to tackle issues faced by defined benefit schemes was launched today by the PLSA.

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Image for PASA launches more guidance on GMP

PASA launches more guidance on GMP

03 March 2016

The Pensions Administration Standards Association (PASA) has released its second set of guidance on GMP reconciliation for pension schemes.

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Image for PMI and OPDU join forces

PMI and OPDU join forces

03 March 2016

The Pensions Management Institute (PMI) and The Occupational Pensions Defence Union (OPDU) have announced an alliance to promote good governance in UK pensions schemes.

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Image for Only 1 in 5 pension members will use a financial adviser

Only 1 in 5 pension members will use a financial adviser

24 February 2016

A research poll found that just 1 in 5 of people would ask an adviser about their pension, leaving a huge guidance gap.

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Image for Easier transfers after Government removes pension barrier

Easier transfers after Government removes pension barrier

11 February 2016

The Government has outlined plans to remove "unjustifiable barriers" to allow people easier access to their pension pots.

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Image for Guide launched ahead of new DC Code of Practice

Guide launched ahead of new DC Code of Practice

11 February 2016

A guide to help trustees explore the level of protection in place for DC assets has been launched.

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Image for PLSA looks at first six months of pension freedoms

PLSA looks at first six months of pension freedoms

04 February 2016

The Pension and Lifetime Savings Association has published the first major market-wide survey of who did what and why in the first six months of pension freedoms.

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Image for PASA issues guidance on GMP reconciliation

PASA issues guidance on GMP reconciliation

22 January 2016

The Pension Administration Standards Association has released its first guidance for pension schemes on GMP reconciliation.

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Image for New mission statement for DC schemes

New mission statement for DC schemes

08 January 2016

Pitmans Trustees (PTL) has created a mission statement for DC scheme trustees.

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Image for PLSA publishes new guidance on governance policy. 

PLSA publishes new guidance on governance policy. 

17 December 2015

The Pensions and Lifetime Savings Association has published an updated edition of its Corporate Governance Policy and Voting Guidelines.

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Image for PLSA launched new Made Simple Guide

PLSA launched new Made Simple Guide

10 December 2015

The Pensions and Lifetime Savings Association has published its latest Made Simple Guide on "at retirement services".

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Image for Skills academy says employers believe pensions education is important

Skills academy says employers believe pensions education is important

03 December 2015

73% of employers believe that educating staff on pensions is an essential element of support they provide for employees, according to recent research by the National Skills Academy for Financial Services (NSAFS).

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Image for Autumn statement: Delay to rises in pension contributions

Autumn statement: Delay to rises in pension contributions

26 November 2015

The government is to save around £840m by delaying planned rises to pension contributions for millions of workers.

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Image for Companies pledge to make ageing economy more sustainable

Companies pledge to make ageing economy more sustainable

19 November 2015

A group of major national and international companies have signed an open letter, pledging to work over the next five years to make the "aging society and economy" more sustainable.

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Image for Consultation on quality mark for retirement products

Consultation on quality mark for retirement products

19 November 2015

The Pension Quality Mark (PQM) has asked stakeholders to respond to its consultation paper on developing a retirement quality mark.

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Image for Pensions administrators must improve

Pensions administrators must improve

17 November 2015

Pensions administrators need to "raise their game" in order to meet expectations of members in line with freedom and choice changes, according to the managing director of pensions specialist Trafalgar House.

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Image for Niel Gavin joins The Pensions Trust

Niel Gavin joins The Pensions Trust

29 October 2015

The Pensions Trust has appointed a new regional development manager for the South West, as part of its strategy to develop its DB Complete product.

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Image for Pension funds must protect against cyber criminals

Pension funds must protect against cyber criminals

29 October 2015

Pension funds must protect members from cyber security threats as the number of pension fraudsters rises.

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Image for Online auto-enrolment guide launched for small employers

Online auto-enrolment guide launched for small employers

22 October 2015

The Pensions and Lifetime Savings Association (formerly the National Association of Pension Funds) has launched an online service designed to guide small employers through auto-enrolment for the first time.

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Image for PMI members oppose radical change

PMI members oppose radical change

16 October 2015

Improving the current pensions system is better than significant change, according to the findings of survey from the PMI.

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Image for Transparency concern at Buck Consultants

Transparency concern at Buck Consultants

08 October 2015

New research from Buck Consultants at Xerox found that despite a competitive market there are still concerns about transparency at UK pension schemes.

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Image for L&G calls for flat rate of pensions tax relief

L&G calls for flat rate of pensions tax relief

08 October 2015

The chief executive of Legal & General Nigel Wilson says a flat rate of pensions tax relief of 20% should be introduced.

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Image for Under 30s thinking about retirement plans

Under 30s thinking about retirement plans

17 September 2015

Generation Y - the so-called millennials - are thinking about retirement plans earlier than ever, according to new research from the National Skills Academy for Financial Services (NSAFS) and AXA Investment Managers (AXA IM).

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Image for Pensions Trust launches new website

Pensions Trust launches new website

10 September 2015

The new Pensions Trust website aims to provide more information to current and prospective clients about its services.

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Image for New service for trustees to assess value of DC Schemes

New service for trustees to assess value of DC Schemes

04 September 2015

A new service from Buck Consultants at Xerox allows trustees to meet new governance standards laid out by the Pensions Regulator.

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Image for Ex-Barings director joins Momentum Global Investment

Ex-Barings director joins Momentum Global Investment

20 August 2015

Alex Garton has been appointed head of institutional sales at Momentum Global Investment Management (Momentum GIM).

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Image for Major review launched to improve financial advice to consumers

Major review launched to improve financial advice to consumers

07 August 2015

A major new review by economic secretary to Harriet Baldwin will examine how financial advice could work better for consumers.

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Image for Security firm calls for pension scheme safeguarding

Security firm calls for pension scheme safeguarding

31 July 2015

Veratta has urged the government to do more to help protect pension scheme members and their sensitive information from scammers.

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Image for 10million pension pots 'not checked'

10million pension pots 'not checked'

30 July 2015

An 'alarming proportion' of UK pension pots are being left unmonitored, new figures suggest.

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Image for ONS auto-enrolment figures send clear message to government

ONS auto-enrolment figures send clear message to government

23 July 2015

Latest figures released by the ONS show that since 2012, total contributions are increasing, but median contribution rates are lower.

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Image for Chancellor announces pensions measures in Summer Budget

Chancellor announces pensions measures in Summer Budget

10 July 2015

The July Budget has been met with a mixed response after the Chancellor George Osbourne announced a range of measures that will impact the pensions industry.

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Image for One in three pension holders to leave larger inheritance

One in three pension holders to leave larger inheritance

03 July 2015

More than a third (36%) of private pension holders are more likely to leave an inheritance or larger amount to their children following the introduction of new rules on pension assets.

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Image for £6bn will be withdrawn from pensions in first year of freedoms, says Hymans Robertson

£6bn will be withdrawn from pensions in first year of freedoms, says Hymans Robertson

03 July 2015

The government is set to make GBP 1.2billion in tax revenue this financial year after GBP 6billion is withdrawn from pension pots.

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Image for NAPF launches new financial education service

NAPF launches new financial education service

02 July 2015

A new education service will offer seminars across the country for pension schemes and individuals approaching retirement.

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Image for PASA announces GMP Working Group members

PASA announces GMP Working Group members

16 June 2015

The Pensions Administration Standards Association (PASA) has announced the members of its GMP working group.

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Image for New minister must tackle local government deficits, says Joanne Segars

New minister must tackle local government deficits, says Joanne Segars

21 May 2015

Priorities for the new local government minister include tackling deficits, according to findings of a recent survey by the NAPF

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Image for BlackRock launches new fund for DC schemes

BlackRock launches new fund for DC schemes

15 May 2015

BlackRock has launched a new fund to help defined contribution schemes construct default solutions that comply with the new regulations around charge caps.

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Image for AON conference outlines key pensions issues

AON conference outlines key pensions issues

14 May 2015

Pension fund members need extra support and a one-size fits all approach is no longer enough, according to experts from global insurer and risk manager, AON.

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Image for New auto-enrolment service for SMEs launched

New auto-enrolment service for SMEs launched

07 May 2015

Pensions specialist Johnson Fleming has launched two new solutions for the UK's small and medium enterprises (SMEs) as increasing numbers reach their auto-enrolment staging dates this year.

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Image for (Some of) the unintended consequences of UK pension reforms

(Some of) the unintended consequences of UK pension reforms

05 May 2015

April 2015 was a pivotal month for the UK pension industry, as some of the most impactful legislative changes in recent history came into effect.

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Image for PMI announces new council members for 2015

PMI announces new council members for 2015

30 April 2015

The PMI election results are as follows...

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Image for Political parties need long term pension plans, says NAPF

Political parties need long term pension plans, says NAPF

24 April 2015

The National Association of Pension Funds (NAPF) has urged the major political parties to consider the long term when it comes to pensions.

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Image for Trade association appoints Now: Pensions to oversee auto enrolment

Trade association appoints Now: Pensions to oversee auto enrolment

23 April 2015

The NFRN chooses Now: Pensions to provide high quality low cost pensions

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Image for Deloitte draws up seven-point Trustee checklist

Deloitte draws up seven-point Trustee checklist

01 April 2015

With less than a week to go before the pension reforms come into force on 6 April, Deloitte has drawn up a checklist for pension scheme trustees.

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Image for Newton appoints non-executive board directors

Newton appoints non-executive board directors

19 March 2015

Newton Investment Management, part of BNY Mellon, has announced the appointment of Henrietta Jowitt and Susan Noble as independent non-executive directors to its board.

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Image for MPs call for independent pensions commissions

MPs call for independent pensions commissions

12 March 2015

The Work and Pensions Committee, the group of MPs appointed by the House of Commons to examine the Department for Work and Pensions, has recommended establishing an independent pensions committee to advise on future policies.

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Image for Pension Schemes Bill receives Royal Assent

Pension Schemes Bill receives Royal Assent

06 March 2015

The Pension Schemes Bill has received Royal Assent to become official legislation ahead of freedom and choice taking effect from 6 April.

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Image for AXA Wealth launched new planning model

AXA Wealth launched new planning model

27 February 2015

AXA Wealth is to launch a new financial planning model in response to the planned pension reforms in April.

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Image for Pensions commission needed to tackle pension uncertainty

Pensions commission needed to tackle pension uncertainty

26 February 2015

A new report has called on the government to introduce a new independent pensions commission to help savers to secure adequate retirement income.

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Image for UK Pensions Minister calls for new pensions department

UK Pensions Minister calls for new pensions department

19 February 2015

The government should form a new department to incorporate pensions, long-term savings and care, according to pensions minister Steve Webb.

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Image for Lancashire fund to administer fire fighters pension schemes

Lancashire fund to administer fire fighters pension schemes

12 February 2015

A pension scheme for Merseyside fire fighters will be administered by the Lancashire Pension Fund from April this year.

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Image for Largest African pension fund chooses Standard Bank

Largest African pension fund chooses Standard Bank

12 February 2015

Africa's largest pension fund, GEPF, has chosen Standard Bank to provide a full range of investor services for its R1.5-trillion of assets under management. 

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Image for New pension freedoms are "chaotic" says deVere CEO

New pension freedoms are "chaotic" says deVere CEO

05 February 2015

The chief executive of the deVere Group has raised concerns about the implementation of the Freedom & Choice agenda, announced by the Chancellor George Osbourne in 2014.

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Image for Trade union trustee adopts FTSE benchmark

Trade union trustee adopts FTSE benchmark

05 February 2015

An independent trustee of Lighthouse Pensions Trust, which provides pensions schemes designed for auto-enrolment for employers including major trade unions, has announced it is to formally adopt the FTSE UK DC benchmarks.

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Image for End of the line for NAPF and PMI merger

End of the line for NAPF and PMI merger

05 February 2015

The National Association of Pension Funds (NAPF) and the Pensions Management Institute (PMI) have announced that the two organisations will not be merging

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Image for 4.8m at risk after pension reforms, says NAPF

4.8m at risk after pension reforms, says NAPF

29 January 2015

A new report from the National Association of Pension Funds has found uncertainty prevails around what to do with pension savings after pension reforms begin in April.

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Image for F&C Investments expands emerging markets debt team

F&C Investments expands emerging markets debt team

22 January 2015

F&C Investments has hired two senior members to its now eight-strong emerging markets debt (EMD) team.

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Image for Prudential Retirement completes fifth reinsurance transaction with Rothesay Life

Prudential Retirement completes fifth reinsurance transaction with Rothesay Life

22 January 2015

Prudential Retirement has announced a transaction with Rothesay Life that will provide reinsurance of longevity risk to eight pension schemes.

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Image for Cutting edge DB service helps trustees simplify process

Cutting edge DB service helps trustees simplify process

18 December 2014

A new fully-integrated and tailored scheme management service for Defined Benefits (DB) pension schemes has been announced by Spence & Partners, a UK pensions actuaries and administration specialists.

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Image for Industry body announced new board

Industry body announced new board

11 December 2014

The Pensions Administration Standards Association (PASA) has announced one new board member and retained three directors after this year's election.

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Image for NAPF publishes global withholding tax relief guide

NAPF publishes global withholding tax relief guide

05 December 2014

A plain-speaking guide to global withholding tax and tax relief on cross-border securities investments has been launched by the National Association of Pension Funds (NAPF).

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Image for NAPF survey shows shift towards stewardship

NAPF survey shows shift towards stewardship

28 November 2014

Pension schemes are placing more importance on stewardship when it comes to the selection of asset managers, an annual survey from the National Association of Pension Funds (NAPF) has found.

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Image for Investment Implications for UK DC Schemes in Light of Tax and Regulatory Changes

Investment Implications for UK DC Schemes in Light of Tax and Regulatory Changes

25 November 2014

The 2014 UK Budget statement introduced a raft of measures aimed at increasing flexibility and choice available to defined contribution (DC) pension savers as they approach retirement.

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Image for PMI launches guide on pension administration agreements

PMI launches guide on pension administration agreements

13 November 2014

The Pensions Management Institute has launched a best-practice guide for pension administration agreements.

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Image for Pensions minister outlines vision for future

Pensions minister outlines vision for future

30 October 2014

Next year's pension reform is a beginning and not an end, according to Pensions Minister Rt Hon Steve Webb.

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Image for NAPF announces six-point manifesto

NAPF announces six-point manifesto

23 October 2014

The creation of an independent retirement savings commission, commitment to automatic enrolment, and a reduction of tick-box regulation will form part of the NAPF agenda for the forthcoming year.

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Image for Poor IT to blame for Government deadline preparation shortfall

Poor IT to blame for Government deadline preparation shortfall

16 October 2014

Two out of three pension professionals blame poor IT for the lack of preparation to meet the Government's Guaranteed Minimum Pension (GMP) deadline, according to new research.

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Image for BlackRock tie up with Aon Hewitt to target defined contribution plans

BlackRock tie up with Aon Hewitt to target defined contribution plans

16 October 2014

Investment consultancy Aon Hewitt is partnering with BlackRock to target defined contribution plans.

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Image for  LPFA backs public sector pensions merger

 LPFA backs public sector pensions merger

09 October 2014

One of the UK's largest public sector pension funds has spoken out in support of London Mayor Boris Johnson's calls for a merger of all public sector pension funds.

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Image for So much change, so little time

So much change, so little time

22 September 2014

With many of the Budget's pensions reforms coming into force in April 2015, the heat is on to be properly prepared, as Louise Farrandreports.

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Image for NAPF names repeat offenders on remuneration

NAPF names repeat offenders on remuneration

18 September 2014

Eight companies have been named by the National Association of Pension Funds (NAPF) for failing to address concerns from investors regarding remuneration packages.

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Image for The end of pensions

The end of pensions

12 September 2014

Louise Farrand considers whether the Budget will create a retirement revolution.

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Image for Altmann urges closer collaboration between public pension funds

Altmann urges closer collaboration between public pension funds

12 September 2014

UK public pension funds should work closer together to reduce deficits and mitigate against recent monetary and political decisions that have negatively impacted the industry, a pensions expert has said.

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Image for Schemes increasingly adopt fiduciary management despite "myths"

Schemes increasingly adopt fiduciary management despite "myths"

01 September 2014

Pension schemes are continuing to take up fiduciary management despite some of the myths that still surround it, says Aon Hewitt.

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Image for Pension schemes face busy end to 2014

Pension schemes face busy end to 2014

27 August 2014

UK pension professionals face an "exceptionally" busy period as they return from the summer holidays to deal with the consequences of the 2014 Budget changes, Aon Hewitt has said.

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Image for Guidance guarantee not enough, say 62% of pension schemes

Guidance guarantee not enough, say 62% of pension schemes

14 August 2014

Most pension schemes believe that the guidance guarantee that was announced in Budget 2014 will not provide adequate support for defined contribution (DC) members ahead of retirement, research by Mercer has revealed.

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Image for Four million workers have auto-enrolled, says TPR

Four million workers have auto-enrolled, says TPR

14 August 2014

More than four million workers have now been auto-enrolled into a workplace pension, The Pensions Regulator (TPR) has revealed.

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Image for Top firms spend 37p out of every £1 on DB deficits

Top firms spend 37p out of every £1 on DB deficits

14 August 2014

FTSE 350 firms pay 37p out of every £1 they spend on pension provision on reducing existing defined benefit (DB) pension deficits, Barnett Waddingham has found.

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Image for Transatlantic DC members' retirement confidence remains low

Transatlantic DC members' retirement confidence remains low

29 July 2014

Retirement confidence remains alarmingly low among defined contribution (DC) scheme members in the US, UK and Ireland, State Street Global Advisors (SSgA) has found.

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Image for PPF "sails smoothly" towards self-sufficiency goal

PPF "sails smoothly" towards self-sufficiency goal

23 July 2014

The Pension Protection Fund (PPF) is 90% likely of being financially self-sufficient by 2030, the lifeboat fund said as it reported a £2.4bn and a funding ratio of 112.5%.

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Image for Charity sector's largest pension liabilities rose by 14.5% in 2012/13

Charity sector's largest pension liabilities rose by 14.5% in 2012/13

23 July 2014

The charity sector's largest pension liabilities grew by 14.5% in 2012/13, according to data from a UK charity financial information provider.

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Image for FTSE 100 pension scheme deficit falls by £16bn

FTSE 100 pension scheme deficit falls by £16bn

16 July 2014

The total deficit in FTSE 100 pension schemes has decreased by £16bn to £60bn in the year to 31 March 2014, JLT Employee Benefits has said.

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Image for Companies are overpaying pension schemes, says PwC

Companies are overpaying pension schemes, says PwC

09 July 2014

Companies are overpaying into their pension schemes by £9bn a year because they are not taking advantage of improving market conditions, PricewaterhouseCoopers (PwC) has said.

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Image for Stewardship important to scheme members despite higher cost

Stewardship important to scheme members despite higher cost

03 July 2014

Most (53%) pension scheme members would prefer their employer to choose a provider demonstrating strong stewardship activity, even if it is 10% more expensive, the National Association of Pension Funds (NAPF) has said.

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Image for UK DB scheme deficits increase

UK DB scheme deficits increase

01 July 2014

The deficit of all UK private sector defined benefit (DB) pension schemes has increased by £71bn over the last 12 months, JLT Employee Benefits has said.

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Image for Pensions discount rate increases to 4.5%

Pensions discount rate increases to 4.5%

25 June 2014

The average accounting discount rate for FTSE 100 pension obligations increased by 0.1% to 4.5%, Barnett Waddingham has revealed.

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Image for Dutch pension funds' average funding ratio reaches three-year high

Dutch pension funds' average funding ratio reaches three-year high

24 June 2014

The average funding ratio of Dutch pension funds increased to 112% in May 2014, the highest level since April 2011, De Nederlandsche Bank (DNB) has said.

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Image for DB schemes' self-sufficiency targets are unreliable

DB schemes' self-sufficiency targets are unreliable

24 June 2014

UK defined benefit (DB) schemes may need to find new strategies as current self-sufficiency targets do not provide the required degree of stability and certainty, Aon Hewitt has said.

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Image for NAPF calls for immediate action to help DB schemes transition smoothly

NAPF calls for immediate action to help DB schemes transition smoothly

17 June 2014

The National Association of Pension Funds (NAPF) has called for immediate action to help defined benefit (DB) schemes and their sponsors navigate the DB transition as smoothly as possible.

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Image for Pension deficits fall to near pre-recession levels

Pension deficits fall to near pre-recession levels

10 June 2014

FTSE 350 defined benefit (DB) pension obligations have "dramatically improved" and are close to reaching pre-recession levels, PricewaterhouseCooper (PwC) has said.

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Image for Total UK Plan completes £1.6bn buy-in

Total UK Plan completes £1.6bn buy-in

10 June 2014

Total UK Pension Plan has secured a £1.6bn buy-in with Pension Insurance Corporation (PIC) in the second largest bulk annuity deal in the UK to date.

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Image for Positive views on DC schemes to cause rise in contributions

Positive views on DC schemes to cause rise in contributions

10 June 2014

Nearly half (43%) of employers look more favourably on defined contribution (DC) schemes as a result of pension rules changes announced in the Budget, Towers Watson has said.

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Image for Global risk transfer market will "thrive" in 2014

Global risk transfer market will "thrive" in 2014

05 June 2014

The risk transfer market will grow in 2014 globally as companies with defined benefit (DB) schemes in the UK, the Netherlands, Germany, Ireland, US and Canada become more ambitious in their efforts to eliminate pension risk, Mercer has said.

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Image for PPF proposes new insolvency risk model

PPF proposes new insolvency risk model

29 May 2014

The Pension Protection Fund (PPF) has launched a consultation on the introduction of a new PPF-specific insolvency risk model for determining levy payments for the next three years.

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Image for Funding of small Irish DC schemes is too low

Funding of small Irish DC schemes is too low

28 May 2014

Many workers in small defined contribution (DC) schemes in Ireland may not retire comfortably due to low contribution levels, the Irish Association of Pension Funds (IAPF) has found.

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Image for PPF 7800 deficits increase over April

PPF 7800 deficits increase over April

14 May 2014

The aggregate deficit of UK defined benefit (DB) schemes within the Pension Protection Fund (PPF) 7800 index increased by £42.3bn to £112.3bn over April 2014.

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Image for FremantleMedia secures £47m buy-in

FremantleMedia secures £47m buy-in

13 May 2014

The Fremantle Group Pension Plan has secured a buy-in with Pension Insurance Corporation (PIC), covering around £47m of pensioner and deferred liabilities.

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Image for Budget pensions overhaul could increase buyouts

Budget pensions overhaul could increase buyouts

07 May 2014

Buyouts may become more affordable for pension schemes as a result of the pensions overhaul in Budget 2014, JLT Employee Benefits has said.

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Image for FTSE 350 pension scheme deficits reach 12-month high

FTSE 350 pension scheme deficits reach 12-month high

07 May 2014

UK pension scheme deficits reached a 12-month high of £111bn in April, according to research from Mercer.

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Image for Royal Mail has best funded pension scheme of FTSE 100

Royal Mail has best funded pension scheme of FTSE 100

01 May 2014

The Royal Mail Group has the best funded company pension scheme within the FTSE 100 index, JLT has said.

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Image for Firms should adopt broader approach when segmenting employee communications

Firms should adopt broader approach when segmenting employee communications

24 April 2014

Employers should think more broadly when approaching segmentation in their employee communications, a pensions specialist has said.

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Image for DC schemes need to revise investment options

DC schemes need to revise investment options

16 April 2014

Defined contribution (DC) pensions schemes will need to reconsider the investment options offered and the default funds used following the Budget 2014 changes, Mercer has said.

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Image for Pensions industry supports increased flexibility for DB members

Pensions industry supports increased flexibility for DB members

15 April 2014

Two-thirds of pensions professionals said that the same flexibility offered to defined contribution (DC) schemes should be extended to defined benefit (DB) scheme members, Aon Hewitt has said.

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Image for Pension guidance already offered by most FTSE 100 companies

Pension guidance already offered by most FTSE 100 companies

10 April 2014

Most FTSE 100 employers already offer retirement guidance while FTSE 250 companies are less likely to offer support, Towers Watson has found.

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Image for Scheme deficits increase over March

Scheme deficits increase over March

09 April 2014

The aggregate deficit of the 6,150 schemes within the Pension Protection Fund (PPF) 7800 index rose to £70bn over March 2014.

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Image for Good DC governance requires more trustee control

Good DC governance requires more trustee control

09 April 2014

Trustees should take more control and rely less on their providers to ensure good governance of their defined contribution (DC) schemes, a consultant has urged.

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Image for FTSE350 DB pension deficits remain around £100bn

FTSE350 DB pension deficits remain around £100bn

07 April 2014

FTSE350 defined benefit (DB) pension deficits have remained steady around the £100bn level since September 2013, Mercer has said.

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Image for PPF selects new assessment period panel

PPF selects new assessment period panel

01 April 2014

Six firms have been appointed to the Pension Protection Fund's (PPF) newly created Assessment Period Legal Panel (APLP).

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Image for "Guidance guarantee" proposal creates tight timeframe for DC trustees

"Guidance guarantee" proposal creates tight timeframe for DC trustees

25 March 2014

The Government's Budget has created a timeframe nightmare for defined contribution (DC) trustees, Pitmans Trustees Ltd (PTL) has said.

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Image for Budget changes should not affect opportunities in bulk annuities

Budget changes should not affect opportunities in bulk annuities

25 March 2014

Bulk annuities remain a good option for pension schemes despite the announcement on annuities in last week's Budget, Aon Hewitt has said.

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Image for Church of England fund secures £100m buy-in

Church of England fund secures £100m buy-in

11 March 2014

The Church of England Pensions Board has completed a £100m buy-in with Prudential.

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Image for Pension schemes remain exposed to interest-rate risk

Pension schemes remain exposed to interest-rate risk

11 March 2014

UK pension schemes are still running too much interest-rate risk, Aon Hewitt has warned.

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Image for NAPF hires head of external affairs

NAPF hires head of external affairs

11 March 2014

The National Association of Pension Funds (NAPF) has appointed a new head of external affairs.

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Image for GeoPost secures £30m buy-in with PIC

GeoPost secures £30m buy-in with PIC

05 March 2014

The trustees of GeoPost UK Limited Pension Scheme have completed a £30m buy-in with Pension Insurance Corporation (PIC).

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Image for DB and DC schemes remain satisfied with investment consultants

DB and DC schemes remain satisfied with investment consultants

05 March 2014

Over 80% of both defined benefit (DB) and defined contribution (DC) schemes would recommend their investment consultancy to a scheme with similar needs, the National Association of Pension Funds (NAPF) has found.

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Image for DB deficits decrease over the year

DB deficits decrease over the year

04 March 2014

UK private sector defined benefit (DB) scheme assets have improved by £18bn over the year due to the performance of equities.

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Image for Employers prioritise market competitiveness in DC pension provision

Employers prioritise market competitiveness in DC pension provision

04 March 2014

Most employers provide a defined contribution (DC) scheme to ensure the employer competes in the market, rather than ensure their employees have an adequate income retirement, Towers Watson has revealed.

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Image for Mortality rate differences cause global firms to underestimate pension liabilities

Mortality rate differences cause global firms to underestimate pension liabilities

21 February 2014

Global FTSE 100 companies are underestimating their pension liabilities by tens of billions of Euros, a report by LCP has found.

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Image for Rothesay Life acquires MetLife Assurance

Rothesay Life acquires MetLife Assurance

18 February 2014

Pensions insurance provider Rothesay Life will acquire MetLife Assurance.

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Image for Decline of DB schemes is a global phenomenon

Decline of DB schemes is a global phenomenon

18 February 2014

The "death" of defined benefit (DB) schemes has become a global phenomenon as companies struggle to tackle legacy liabilities, PricewaterhouseCoopers (PwC) has said.

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Image for Employers should consider collective DC ahead of 2016 changes

Employers should consider collective DC ahead of 2016 changes

18 February 2014

UK employers should start considering collective defined contribution (CDC) as a viable arrangement ahead of the end of contracting-out in 2016, Aon Hewitt has said.

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Image for PPF 7800 deficits increase over January

PPF 7800 deficits increase over January

11 February 2014

The aggregate deficit of defined benefit (DB) schemes within the Pension Protection Fund (PPF) 7800 index increased by £48.9bn over January 2014.

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Image for Industry group to tackle pension liberation scams

Industry group to tackle pension liberation scams

04 February 2014

An industry group of trustees, administrators, legal advisors, insurers, regulators and consumer representatives has formed to tackle the growing problem of pension liberation scams.

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Image for £100bn capacity available for longevity swap market

£100bn capacity available for longevity swap market

29 January 2014

A "significant" increase in the number of longevity swaps will take place during 2014 and 2015 as a result of additional capacity and better pricing from the reinsurance market, Aon Hewitt has said.

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Image for Partnership Assurance completes £33m buy-in with unnamed scheme

Partnership Assurance completes £33m buy-in with unnamed scheme

27 January 2014

Partnership Assurance has completed a £33m medically underwritten buy-in with the trustees of an undisclosed pension plan.

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Image for BT and BBC schemes top responsible investment table

BT and BBC schemes top responsible investment table

27 January 2014

The BT and BBC pension schemes have the best occupational schemes in the UK for responsible investment, a charity has found.

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Image for Fiduciary duties should be clarified, not codified, says NAPF

Fiduciary duties should be clarified, not codified, says NAPF

23 January 2014

Fiduciary duties in pension scheme management should be further clarified through guidance, rather than through statute, the National Association of Pension Funds (NAPF) has said.

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Image for Greater transparency needed for fiduciary management fees

Greater transparency needed for fiduciary management fees

22 January 2014

The fees charged by fiduciary managers need to be more transparent, Aon Hewitt has argued.

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Image for Barriers cause schemes to miss opportunities to de-risk

Barriers cause schemes to miss opportunities to de-risk

21 January 2014

A lack of quick access to accurate information is causing pension schemes to miss opportunities to reduce their risk, PricewaterhouseCoopers (PwC) has found.

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Image for Pension fund trustees should focus on scheme specific objectives

Pension fund trustees should focus on scheme specific objectives

21 January 2014

Trustees should focus on pro-active strategies, rather than judging their own situation on non-fund-specific judgements or in comparison to other schemes, a pension consultant has said.

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Image for BACB scheme completes first tendered underwritten buy-in

BACB scheme completes first tendered underwritten buy-in

15 January 2014

The Trustees of the British Arab Commercial Bank (BACB) Pension Scheme have completed a medically underwritten buy-in contract for £12m with Partnership.

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Image for Deficits decrease for UK DB schemes

Deficits decrease for UK DB schemes

15 January 2014

The aggregate deficit of more than 6,000 UK defined benefit (DB) schemes in the Pension Protection Fund (PPF) 7800 index decreased by £32.1bn over December 2013.

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Image for JLT completes £85m buy-in with Prudential

JLT completes £85m buy-in with Prudential

14 January 2014

The Jardine Lloyd Thompson (JLT) UK Group Pension Scheme has completed a further £85m buy-in contract with Prudential.

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Image for UK pension scheme deficits increase over 2013

UK pension scheme deficits increase over 2013

07 January 2014

The FTSE 350 pension scheme accounting deficits increased by over £25bn over 2013, despite higher contributions from employers and strong UK stock market returns.

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Image for LPFA appoints new CEO

LPFA appoints new CEO

06 January 2014

The London Pensions Fund Authority (LPFA) has appointed a new chief executive officer (CEO).

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Image for AstraZeneca secures £2.5bn longevity swap

AstraZeneca secures £2.5bn longevity swap

17 December 2013

The AstraZeneca Pension Fund Trustee has secured a £2.5bn longevity swap with Deutsche Bank.

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Image for Improved funding levels for UK schemes

Improved funding levels for UK schemes

17 December 2013

UK pension scheme funding level improved "significantly" during the second and third quarters of 2013 with more than 40% of schemes survey seeing triggers activated by improving investment returns, Aon Hewitt has found.

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Image for Carillion completes £1bn longevity swap deal

Carillion completes £1bn longevity swap deal

11 December 2013

Carillion defined benefit (DB) Pension Trustee (the Trustee) has secured a longevity swap between Deutsche Bank and five DB pensions schemes sponsored by the company.

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Image for Pension scheme recovery has stalled despite economic upturn

Pension scheme recovery has stalled despite economic upturn

10 December 2013

Support for defined benefit (DB) schemes from FTSE 350 companies has stalled and the situation will not improve anytime soon, PricewaterhouseCooper (PwC) has said.

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Image for Leaf UK Pension Scheme secures £35m buyout

Leaf UK Pension Scheme secures £35m buyout

10 December 2013

The Leaf UK Pension Scheme has completed £35m buyout with Pension Insurance Corporation (PIC), insuring more than 700 members.

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Image for Scheme deficits increase despite strong growth assets performance

Scheme deficits increase despite strong growth assets performance

04 December 2013

Strong returns and "record levels of deficit contributions" in UK defined benefit (DB) schemes have been overshadowed by an increase in scheme deficits over the year, JLT Employee Benefits (JLT EB) has said.

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Image for Firms should get advice about pension charge cap now

Firms should get advice about pension charge cap now

29 November 2013

Medium-sized firms that are due to start auto-enrolment in April 2014 should speak to providers now about the pension charge cap, Towers Watson has said.

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Image for Scheme consultants need to embrace their stewardship responsibilities

Scheme consultants need to embrace their stewardship responsibilities

26 November 2013

The pension fund advisor community is failing to demonstrate their commitment to the stewardship code, the National Association of Pension Funds (NAPF) has said.

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Image for PIC reinsures £1.4bn of longevity exposure

PIC reinsures £1.4bn of longevity exposure

26 November 2013

The Pension Insurance Corporation (PIC) has completed reinsurance transactions covering £1.4bn of its own longevity exposure.

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Image for ABCs increasingly used to fund small pension scheme deficits

ABCs increasingly used to fund small pension scheme deficits

26 November 2013

Asset-backed contributions (ABCs) are being increasingly used by companies to fund smaller pension scheme deficits, according to research from Deloitte.

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Image for LGPS needs to reform to stop "death spiral"

LGPS needs to reform to stop "death spiral"

26 November 2013

The Local Government Pension Scheme (LGPS) is in "crisis" and is "woefully inefficient", the Centre for Policy Studies has said.

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Image for NCR insures scheme with PIC

NCR insures scheme with PIC

20 November 2013

The NCR Pension Plan has transferred around £670m of assets to the Pension Insurance Corporation (PIC) in a pension insurance buy-in transaction.

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Image for Lloyd's Superannuation Fund insures section of scheme

Lloyd's Superannuation Fund insures section of scheme

31 October 2013

The Lloyd's Superannuation Fund (LSF) has completed a pension insurance buyout transaction covering £40m of liabilities with Pension Insurance Corporation.

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Image for PPF's surplus increases

PPF's surplus increases

29 October 2013

The Pension Protection Fund (PPF) has revealed that it had a funding level of 109.6% and a £1.8bn surplus at the end of 2012/13.

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Image for NAPF publishes Stewardship Disclosure Framework

NAPF publishes Stewardship Disclosure Framework

16 October 2013

The National Association of Pension Funds (NAPF) has launched a Stewardship Disclosure Framework to help funds hold their asset managers to account over how well they apply the Stewardship Principles on the fund's behalf.

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Image for Pension schemes should review VAT status

Pension schemes should review VAT status

16 October 2013

All sponsoring employers should review their pension scheme VAT processes with their tax advisers, Xafinity has said.

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Image for Pension scheme fraud risk needs to be actively considered

Pension scheme fraud risk needs to be actively considered

16 October 2013

Trustees should actively consider fraud risk as one in five pension schemes has reported fraud within the past two years, Baker Tilly has urged.

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Image for UK pensions "not fit for purpose", warns Ros Altmann

UK pensions "not fit for purpose", warns Ros Altmann

14 October 2013

Defined contribution (DC) pensions in the UK are "out of date" and "not fit for purpose", independent pensions expert Dr Ros Altmann has warned in a report.

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Image for UK pensions are fragile, but all is not lost

UK pensions are fragile, but all is not lost

14 October 2013

The assets for all of the UK's corporate defined benefit (DB) pension funds will probably run out by around 2044, risk manager Cardano has warned.

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Image for NAPF joint corporate governance services licensing agreement to end

NAPF joint corporate governance services licensing agreement to end

09 October 2013

The National Association of Pension Funds (NAPF) announced that its joint licensing agreement with Institutional Shareholder Services Inc. on UK corporate governance services will not be extended once it expires.

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Image for Pension deficits remain unchanged in September

Pension deficits remain unchanged in September

04 October 2013

Defined benefit (DB) deficits of FTSE350 companies remained unchanged during September, but only after reaching an intra-month low of £78bn and a funding level of 89%, Mercer has revealed.

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Image for Pension schemes have healthy appetite for de-risking in 2013

Pension schemes have healthy appetite for de-risking in 2013

03 October 2013

De-risking deals in 2013 are on track to exceed last year's total of £4.5bn, JLT Employee Benefits has said.

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Image for PQM appoints 3 board members

PQM appoints 3 board members

02 October 2013

Three new people have been appointed to join the Pension Quality Mark's (PQM) board of directors.

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Image for Good DC governance is hindered by time constraints

Good DC governance is hindered by time constraints

24 September 2013

Time restraints are the major impediment to good defined contribution (DC) governance, a survey by the Pensions Management Institute (PMI) has revealed.

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Image for Partnership completes £22m enhanced buy-in

Partnership completes £22m enhanced buy-in

24 September 2013

The largest enhanced bulk annuity transaction to date was completed when Partnership secured a £22m medically underwritten buy-in with an unnamed scheme.

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Image for Companies should use cash reserves to de-risk DB schemes

Companies should use cash reserves to de-risk DB schemes

18 September 2013

FTSE 100 firms have been urged to use corporate cash reserves to de-risk defined benefit (DB) schemes, Capita Employee Benefits has said.

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Image for Pensions Institute publishes 16 principles for modelling DC schemes

Pensions Institute publishes 16 principles for modelling DC schemes

17 September 2013

A set of 16 "good practice" principles for modelling defined contribution (DC) schemes have been published by the Pensions Institute at Cass Business School.

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Image for Proposals for improving retirement outcomes include decommissioning DB schemes

Proposals for improving retirement outcomes include decommissioning DB schemes

17 September 2013

Decommissioning defined benefit (DB) schemes has been has been included as one of the key recommendations to improve future retirement outcomes.

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Image for GMP reconciliation should be higher on trustee agendas

GMP reconciliation should be higher on trustee agendas

16 September 2013

Pension schemes are under-estimating the issue of Guaranteed Minimum Pension (GMP) reconciliation and trustees need to put the issue higher up their agendas, a consultant has warned.

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Image for DC scheme shortfalls will put pressure on employers and employees

DC scheme shortfalls will put pressure on employers and employees

11 September 2013

The shortfalls of defined contribution (DC) schemes will force employers to deal with an ageing workforce or provide a pensions incentive to retire, a consultant has warned.

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Image for Better design and governance for DC default funds

Better design and governance for DC default funds

10 September 2013

Defined contribution (DC) default funds are reviewing and overhauling their design and governance to deliver good retirement outcomes for members, the National Association of Pension Funds (NAPF) has said.

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Image for Denholm Pension Scheme completes buy-in within six weeks

Denholm Pension Scheme completes buy-in within six weeks

10 September 2013

The Denholm Pension Scheme has completed a pensioner buy-in transaction worth just under £8m within six weeks with JLT Employee Benefits (JLT EB).

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Image for UK DB schemes increasingly use fiduciary managers

UK DB schemes increasingly use fiduciary managers

09 September 2013

UK pension schemes are increasingly committed to delegated investment strategies as trustees and sponsors are being put under increasing pressure, an Aon Hewitt survey has found.

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Image for Trustees secure InterContinental Hotels UK Pension Plan with £440m buy-out

Trustees secure InterContinental Hotels UK Pension Plan with £440m buy-out

03 September 2013

The InterContinental Hotels UK Pension Plan's trustee has secured a £440m full buy-out transaction with Rothesay Life.

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Image for Schemes reconsider de-risking as deficits decrease over the year

Schemes reconsider de-risking as deficits decrease over the year

03 September 2013

Many schemes are reconsidering if it is the right time to secure liabilities with an insurer, as deficits decreased over the year, JLT Employee Benefits (JLTEB) has said.

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Image for PASA elects new board members

PASA elects new board members

29 August 2013

Four new people have been elected to sit on The Pensions Administration Standards Association's (PASA) board.

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Image for Schemes should take steps to avoid data protection fines

Schemes should take steps to avoid data protection fines

29 August 2013

More schemes should be auditing their data controls to avoid data protection fines, a pensions actuaries and administration specialist has said.

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Image for Schemes are unprepared for de-risking challenge

Schemes are unprepared for de-risking challenge

27 August 2013

Despite nearly one in four pension professionals believing that the level of de-risking will increase dramatically, many schemes may be unprepared to de-risk themselves, research commissioned by EDM Group has revealed.

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Image for John Lewis' holiday pay error will increase pension liabilities

John Lewis' holiday pay error will increase pension liabilities

22 August 2013

John Lewis' future pensions liabilities are expected to increase by around £7m after a recent discovery of a holiday pay blunder.

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Image for Unite rejects Royal Mail pensions cuts

Unite rejects Royal Mail pensions cuts

21 August 2013

Around 7,000 Royal Mail and Post Office managers have voted against cuts to their pensions in consultative ballots.

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Image for Cobham Pension Plan agrees to £280m bulk annuity deal

Cobham Pension Plan agrees to £280m bulk annuity deal

15 August 2013

The Cobham Pension Plan's trustees have agreed to a £280m bulk annuity transaction with Rothesay Life.

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Image for PPF selects 2 non-executive board members

PPF selects 2 non-executive board members

14 August 2013

The Pension Protection Fund (PPF) has appointed two new non-executive board members.

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Image for Deficits decrease during July

Deficits decrease during July

13 August 2013

The Pension Protection Fund (PPF) has revealed that the aggregate deficit of the defined benefit (DB) schemes in the PPF 7800 index have decreased over the month of July.

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Image for PQM looks into raising default fund standards

PQM looks into raising default fund standards

12 August 2013

The National Association of Pension Funds' (NAPF) Pension Quality Mark (PQM) is calling for industry views on what pensions schemes should consider when setting the investment strategy for their default fund.

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Image for PPF sets-up new trustee advisory panel with four firms

PPF sets-up new trustee advisory panel with four firms

06 August 2013

The Pension Protection Fund (PPF) has appointed four firms to its new Trustee Advisory Panel.

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Image for Leading the technological revolution: How the pensions industry is uniting to improve efficiency and risk management

Leading the technological revolution: How the pensions industry is uniting to improve efficiency and risk management

05 August 2013

Technology is starting to infiltrate the pensions industry, with significant implications for sponsors, trustees, members and advisers. But is it also having the effect of bringing together disparate industry stakeholders to focus on the key goals – managing deficits and providing better service to schemes and members?

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Image for Current UK pension system is "sub-optimal"

Current UK pension system is "sub-optimal"

31 July 2013

Current pension scheme solutions are "sub-optimal" and the pensions industry should be seeking structures and systems that can deliver better outcomes, a poll has revealed.

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Image for Possible "capacity crunch" for UK longevity hedging market

Possible "capacity crunch" for UK longevity hedging market

31 July 2013

The UK pension fund longevity hedging market could triple over the next three years, however new analysis has raised concerns over the capacity of reinsurers to take on the risks of this growing market.

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Image for FTSE350 scheme contributions have little effect on deficits

FTSE350 scheme contributions have little effect on deficits

30 July 2013

Over £35bn has been paid by FTSE350 firms into their schemes over the last three years, but with very little effect on overall deficits, according to new research.

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Image for Detroit's demise provides "cautionary tale" for UK schemes

Detroit's demise provides "cautionary tale" for UK schemes

25 July 2013

A Detroit-style pension scheme catastrophe could potentially happen in the UK, a consultant has warned.

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Image for DB legacy issues will continue for longer than predicted

DB legacy issues will continue for longer than predicted

25 July 2013

Industry predictions around defined benefit (DB) legacy issues, especially involving buy-out, being completed within 25-30 years are wildly over optimistic, the Pensions Management Institute (PMI) has said.

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Image for NEST Corporation hit by fraud

NEST Corporation hit by fraud

25 July 2013

NEST Corporation, the trustee of the National Employment Savings Trust (NEST) scheme, has been hit by an incidence of fraud, which has resulted in a loss of more than £1.4m.

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Image for French pharma hires Aon Hewitt for its UK hybrid pension scheme

French pharma hires Aon Hewitt for its UK hybrid pension scheme

15 July 2013

Servier Laboratories has appointed Aon Hewitt to provide a full range of services for its £60m hybrid scheme in the UK.

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Image for Shadow LGPS advisory board elects NAPF chief exec

Shadow LGPS advisory board elects NAPF chief exec

15 July 2013

The National Association of Pension Funds' (NAPF) chief executive has been elected chair of the shadow local government pension scheme (LGPS) advisory board.

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Image for Renold merges UK DB schemes

Renold merges UK DB schemes

10 July 2013

Renold has merged three of its UK defined benefit (DB) schemes in an attempt to reduce costs.

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Image for UK Coal scheme enters PPF

UK Coal scheme enters PPF

09 July 2013

UK Coal's pension scheme has now entered the Pension Protection Fund (PPF), the company announced.

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Image for Citi secures £1.5bn EMI pension buyout

Citi secures £1.5bn EMI pension buyout

09 July 2013

The EMI Pension Fund together with Citi have completed the largest ever pension insurance buyout with Pension Insurance Corporation (PIC).

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Image for Auto-enrolment is causing the pensions market to change

Auto-enrolment is causing the pensions market to change

04 July 2013

The UK pensions market is changing as developments such as auto-enrolment are altering the type and range of services that schemes are seeking from providers, Aon Hewitt has said.

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Image for UK private sector DB assets increase over June

UK private sector DB assets increase over June

02 July 2013

The assets of all UK private sector pension schemes increased by £109bn to £1,135 at the end of June 2013, while liabilities also increased by £36bn to £1,213 over the same period last year.

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Image for L&G buys closed annuity provider

L&G buys closed annuity provider

26 June 2013

Legal & General (L&G) has acquired Lucida, a closed annuity buy-out company, for around £151m.

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Image for Employers should provide more support to DC members

Employers should provide more support to DC members

26 June 2013

Trustees and employers need to support members more when it comes to helping them choose their annuity, the National Association of Pension Funds (NAPF) has said.

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Image for Companies make little progress in reducing pensions burden

Companies make little progress in reducing pensions burden

24 June 2013

Little progress has been made by companies to reduce the financial burden of their pension obligations as they fail to adapt to the new economy, according to PricewaterhouseCoopers (PwC) analysis.

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Image for "Negative spiral" in interest rates impacted Swiss schemes in 2012

"Negative spiral" in interest rates impacted Swiss schemes in 2012

20 June 2013

The latest study on the pension liabilities of the 30 largest Swiss companies revealed that the "negative spiral" in interest rates had a major impact on pension plans in 2012.

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Image for Imperial Home Decor secures enhanced buyout deal for DC scheme

Imperial Home Decor secures enhanced buyout deal for DC scheme

17 June 2013

The Imperial Home Decor scheme has completed a £5m enhanced buyout deal with Partnership for its defined contribution (DC) section.

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Image for Schemes are increasingly outsourcing pensions administration

Schemes are increasingly outsourcing pensions administration

12 June 2013

A growing number of private sector schemes are outsourcing their pensions administration, according to an Aon Hewitt survey.

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Image for Deficit decreases over May, says PPF

Deficit decreases over May, says PPF

12 June 2013

Scheme deficits within the Pension Protection Fund's (PPF) 7800 index have decreased by £71.1bn over May, according to its latest research.

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Image for More accurate calculations can lead to smaller pension liabilities

More accurate calculations can lead to smaller pension liabilities

11 June 2013

More accurate accounting calculations can lead to smaller pension liabilities in company accounts, according to a Towers Watson study.

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Image for NAPF appoints new chairman

NAPF appoints new chairman

11 June 2013

The National Association of Pension Funds (NAPF) has appointed the head of Tesco's pension scheme to become its chairman.

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Image for Auto-enrolment at risk of becoming pensions' 'five-a-day' campaign

Auto-enrolment at risk of becoming pensions' 'five-a-day' campaign

10 June 2013

Employers need to encourage members to contribute more than the minimum requirement by emphasising this in their auto-enrolment communication, a pensions specialist has said.

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Image for LAPFF recommends members to oppose WPP pay

LAPFF recommends members to oppose WPP pay

07 June 2013

The Local Authority Pension Fund Forum (LAPFF) is advising its members to oppose WPP's remuneration report and long-term incentive plan because of concerns about the scale of executive reward.

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Image for FRC announces revised auditing standard

FRC announces revised auditing standard

05 June 2013

The Financial Reporting Council (FRC) has made a "significant" change to the UK's auditing standards to enhance the transparency of financial reports.

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Image for Market movement impacts fee increases more than manager performance

Market movement impacts fee increases more than manager performance

04 June 2013

Financial markets performance has a 2.5 times greater impact on the investment fee than the performance of the manager, consultancy firm LCP has said.

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Image for NEST's membership more than doubles since April

NEST's membership more than doubles since April

04 June 2013

The National Employment Savings Trust's (NEST) membership has more than doubled since April and its assets under management have increased to around £8m, it announced.

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Image for PPF reappoints chairman

PPF reappoints chairman

03 June 2013

The Pension Protection Fund's (PPF) chairman has been reappointed for a further three years, the Department for Work and Pensions has announced.

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Image for Two Smith & Nephew pension plans insured for £190m

Two Smith & Nephew pension plans insured for £190m

29 May 2013

Rothesay Life has entered into bulk annuity transactions with two Smith & Nephew pension plans for £190m.

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Image for LPFA welcomes findings on pension fund fees

LPFA welcomes findings on pension fund fees

29 May 2013

New research, which shows that Local Government Pension Scheme (LGPS) funds could be paying hundreds of millions of pounds more than necessary to City fund managers, has been welcomed by the London Pensions Fund Authority (LPFA).

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Image for Effective governance can help schemes reach full funding

Effective governance can help schemes reach full funding

28 May 2013

Defined benefit (DB) schemes should strengthen their governance in order to achieve a more risk-controlled and cost-effective path towards full funding, BlackRock has said.

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Image for PASA launches administration providers transfers code of conduct

PASA launches administration providers transfers code of conduct

24 May 2013

The Pensions Administration Standards Association (PASA) has launched a code of conduct on administration provider transfers to help raise standards in the industry.

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Image for PIC agrees £160m buy-in with First Quench Pension Fund Trustee

PIC agrees £160m buy-in with First Quench Pension Fund Trustee

22 May 2013

Independent Trustee Services Limited (ITS), on behalf of the First Quench Pension Fund, has agreed to a £160m buy-in deal with Pension Insurance Corporation (PIC).

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Image for Smaller schemes should grab attractive medically underwritten annuities

Smaller schemes should grab attractive medically underwritten annuities

22 May 2013

Smaller UK pension schemes have been urged by Aon Hewitt to look closely at current opportunities with medically underwritten annuities.

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Image for NAPF welcomes call to restructure local authority pensions

NAPF welcomes call to restructure local authority pensions

21 May 2013

The Government plans to look at restructuring local authority pension funds, and the announcement has been welcomed by the National Association of Pension Funds (NAPF).

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Image for NSPCC Pension Scheme secures buy-in with PIC

NSPCC Pension Scheme secures buy-in with PIC

20 May 2013

The Pension Insurance Corporation (PIC) has completed a £63m buy-in with the trustees of the National Society for the Prevention of Cruelty to Children (NSPCC) Pension Scheme.

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Image for PPF publishes three-year plan

PPF publishes three-year plan

20 May 2013

The Pension Protection Fund (PPF) has unveiled its strategic objectives for the next three years to reflect a "mature organisation".

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Image for Advisers hide data issues from trustees

Advisers hide data issues from trustees

17 May 2013

Data problems suffered by schemes are down to advisers withholding information and issues from trustees in fear of it jeopardising their appointment, a pensions actuaries and administration specialist has said.

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Image for LAPFF backs JP Morgan chair/CEO separation