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Putting members at the heart of a bulk annuity transaction

Thursday, April 18, 2024

As a trustee, when selecting an insurer for a buy-in where you intend to move to buyout, you are effectively selecting a provider to whom you will be handing over the responsibility of looking after your scheme’s members for the rest of those members’ lives (as well as their spouses, children and financial dependants, depending on the scheme rules). This responsibility could last for 50 years or more.

Hello surplus my old friend? We’ve come to talk about you again…

Friday, April 5, 2024

Nearly a year after speaking at the LawDeb debate on the topic of whether DB surpluses should be returned to employers, the issue of surplus is attracting more attention than it has done since the 1980s.

Another month, another injustice

Friday, April 5, 2024

Why are our governments so unwilling to recognise a wrong and do something about it to ease the suffering of ordinary people? Why is justice so often delayed? What do they gain? If a private company gets it wrong, it is expected to fix it, but government departments seem to feel they are above such things.

Why Time is so Important for Our Economic Health

Friday, March 22, 2024

This article explains how the nature of money in an economy dramatically affects the time preference of both individuals and companies, which has huge implications for that country’s economic performance and health.

Last one out turns off the light - The responsibility of being the last trustee

Thursday, February 29, 2024

Were you ever the last person to leave a shared rental house? One of those big houses, which has seen occupants come and go, enjoyed good, bad and some definitely ugly times and had a rather, ahem, varied history in terms of maintenance and general housekeeping.

I’ll tell you what we want, what we really, really want!

Friday, February 16, 2024

The last few weeks have been interesting on the scams front. The release of the ITV drama, Mr Bates vs The Post Office, based on a true story of injustice, raised public anger at the callous treatment of sub-postmasters by those in charge.

Stewardship priorities

Wednesday, December 13, 2023

In June 2022, the Department for Work and Pensions (“DWP”) published guidance for Trustees of Occupational Pension Schemes, concerning stewardship policies, and specifically priorities.

A 21st Century solution for a 21st Century problem

Friday, December 8, 2023

Last week I spoke twice in Parliament about the unfair tax treatment of investment fraud victims. I also spoke to various media outlets on the same topic. It is good to see increasing interest in this injustice – a clear case of authorities being both deaf and blind to citizens’ hardship and stress.

Five takeaways from the DWP’s review of TPR

Thursday, November 30, 2023

Nigel Cayless of Sackers provides an overview of the key points from the Department for Work and Pensions review of the The Pensions Regulator.

Predators Stalking our Pensions

Friday, October 20, 2023

Margaret Snowdon argues that fraud prevention creates a net benefit for everyone, not just potential victims.

Beware the duck sized horses

Wednesday, September 13, 2023

Would you prefer to fight one horse sized duck or a hundred duck sized horses? What about thousands of duck sized horses? If your pension scheme has the power to make a discretionary transfer, then you should think about this question when designing your due diligence procedures.

Shifting the paradigm – support the victims and pursue the scammers?

Thursday, August 31, 2023

Margaret Snowdon, Chair of PSIG, argues that putting the focus on perpetrators rather than victims is an essential step in the fight against pension scamming.

“It needn’t be perfect – just get it going”

Friday, June 30, 2023

Margaret Snowdon suggests improvements to pension transfer regulation

Let’s be professional - changing pension administration providers shouldn’t be a nightmare

Thursday, March 30, 2023

Throughout the lifetime of a pension scheme, the provider of administration services will change at least once if not more.

The reasons for the switch are varied and complex, such as an acquisition or a merger. However, the most common reasons to change providers comes down to poor service and high costs.

Mission Possible?

Monday, November 14, 2022

Isn’t it typical of Hollywood that Mission Impossible isn’t actually impossible after all. Rather, perfectly doable with a bit of daring, a bit of willing, a mild disdain for the rules and a winning way with prosthetics.

Early retirement in times of high inflation

Thursday, November 3, 2022

The unusually high level of inflation being experienced in the UK is forcing trustees of defined benefit schemes to review their schemes and consider the impact of this on members who are considering taking early retirement imminently.

Pension scammers over the years

Tuesday, September 27, 2022

Scams have changed, but somehow remain the same. More and more people have joined the fight against pension scams - However we must pay attention and government, regulators, police and courts must act in lockstep.

Pension Scams: How They Are Evolving & What More Can We Do?

Tuesday, August 30, 2022

The recent publication of the joint Pension Regulator and National Fraud Investigation Bureau Pension Scams Threat Assessment provided insightful commentary into how pension scams have changed over the years. Nothing stays the same of course and it is unsurprising that those who wish to rob hard-working people of their financial security in retirement have continued to explore different and more effective ways of doing so.

It’s time to prepare for pension dashboards

Tuesday, August 30, 2022

It’s fair to say that the evolution of pensions dashboards has been a marathon, not a sprint. But over the last year we’ve seen major progress in terms of timetables, scope, and specifications for their launch. It’s now time for pension schemes to play their part to help savers keep track of their pension savings and make better plans for their retirement.

Data Cleansing

Tuesday, July 5, 2022

Getting ‘transaction ready’ – you snooze you lose!!

Solvency II reform: More clarity for bulk annuity insurers

Tuesday, June 28, 2022

In our March blog, we commented on the first glimpse of the UK Government’s proposed reforms to the “Solvency II” regulations that set out how much capital UK insurers are required to hold, which were outlined in a speech by John Glen MP, the Economic Secretary to the Treasury. On 28 April, HM Treasury published a consultation paper providing more detail on the proposed reforms.

What is Value for Money?

Monday, June 6, 2022

“Man must measure”, wrote the mathematician Lancelot Hogben over sixty years ago. A little later Peter Drucker allegedly asserted “if it cannot be measured, it cannot be managed” – although a more complete quotation would be “What gets measured gets managed — even when it’s pointless to measure and manage it, and even if it harms the purpose of the organization to do so.”

Administrator, you shall go to the ball!

Thursday, May 26, 2022

Pensions administration is often described as the “Cinderella service”. While the ugly sisters go the ball in all their gaudy finery, Cinderella is left behind to clean the house and nibble on a few crusts. We make the comparison in jest, but behind the kindly humour there is a great deal of truth.

Pensions Act 1995 – 25 years on…

Wednesday, April 27, 2022

Would you believe the Act is now 25 years old, having come into force on 6 April 1997, and is probably the most important legislation in the industry’s history?

Print in Haste, Repent at Leisure

Wednesday, April 20, 2022

I try to live by the maxim: act in haste, repent at leisure. After drafting anything longer than an acknowledgment email, I like to leave it a while (preferably overnight) before one final sense check. It is slower, but any mistakes might become visible with fresh eyes.

Pension Scams: How Will We Know If We Are Making A Difference?

Friday, April 1, 2022

The publication of the Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations 2021 rightly received extensive coverage in the pensions press and media - they represent a significant step forward in the fight against pension scams. It is hoped that the new statutory powers afforded to trustees will make a real difference and provide much needed protection to scheme members.

Solvency II reform – Seismic Shift or Gentle Transformation?

Monday, March 7, 2022

It has been known for some time that the UK Government and the financial services regulatory body, the Prudential Regulation Authority (PRA), have concerns with “Solvency II”, the current rules that set out how much capital UK insurers are required to hold.

'Conditions for Transfers Regulations' - Is this a positive step or an unwelcome development?

Thursday, February 17, 2022

In this blog Margaret Snowdon discusses that more is to be done in defining the latest transfer regulations, but urges we should be careful that we don’t let perfect become the enemy of the good.

The wider implications of regulation

Tuesday, February 15, 2022

If the leitmotif of the present age is ‘sustainable’, its obverse is just as evident. Housing, child care, social care (any kind of care), financial advice – you name it, how often do we see it labelled ‘unaffordable’, implying ‘unsustainable’ by extension.

Pensions dashboards – Lots of cooks but how do we avoid spoiling the Rice, Rice, Baby?

Monday, January 31, 2022

Our appetite for pensions dashboards has been well and truly whetted. Now they’re just around the corner, it’s worth considering the sheer number of ingredients needed to ensure they’re a resounding success.

Benchmarking cash

Wednesday, December 22, 2021

It has become apparent that inter-bank rates have regrettably long passed their sell-by date. This is in part due to the way they are calculated...

On the limitations of legislation

Thursday, December 9, 2021

Pension scheme trustees, administrators and advisers have been much exercised lately by new pension transfer regulations from the DWP.

Reducing carbon emissions in emerging markets

Thursday, December 9, 2021

A case of necessity trumping over the environment?

Scams: the beginning of the end?

Tuesday, November 30, 2021

At last. We have the regulations to help trustees and managers just say no to suspect transfers. Hooray! Put out the bunting! Pop open the bubbly!...

‘Parents, schools, government; where does the responsibility lie when it comes to educating children about pensions?’

Monday, November 1, 2021

With the State Pension Age (SPA) and Minimum Pension Age (MPA) both set to rise respectively, and according to the Actuarial Post, two thirds of adults are unsure whether they will have enough money to retire, there has never been a greater emphasis on the need to begin to save from a young age.

4IR and the pensions industry’s juxtaposition, success will be in keeping it personal

Monday, November 1, 2021

It’s an exciting time to be a consumer. New technologies are constantly being created to simplify and enhance our lives, and the way we live and work has been transformed in recent years, with sweeping changes across many sectors from supermarket shopping to online banking.

What we talk about when we talk about pensions

Monday, October 11, 2021

A former Chancellor threw open a stable door seven years ago, and the pensions industry has been the same ever since. Yes, the same, in one sense: we still talk the same language. Even though fewer and fewer people have pensions: private sector employees are instead building up – or as we say, ‘accruing’ – pots of money.

Not a Pointless Answer I’m Afraid

Wednesday, July 21, 2021

Ignorance of the law (and of regulation) is no defence against the consequences of a breach. So it is important to know what it is and understanding what it means in practice.

Nudging members toward better retirement choices

Thursday, July 15, 2021

The Financial Conduct Authority (FCA) has released a consultation titled ‘The stronger nudge to pensions guidance’. Its aim is to create an environment where consumers are encouraged to take the right guidance at the right time to support them to make informed decisions.

The Road Ahead is Under Construction

Thursday, July 15, 2021

We are all waiting for the expected regulations on transfers, bringing in the curbs to the statutory right to transfer. PSIG has battled long and hard for legislation to help trustees do the right thing by members tempted by dodgy offers, so we are fully supportive of the DWP regulations to come, and indeed, have helped form them.

Prevention is better than cure

Wednesday, May 26, 2021

Seven years ago, I set up the Pension Scams Industry Group, with some like-minded senior industry representatives, to combat the rising problem of pension scams. Within the industry, we could see harm being done and I predicted that we would see £1Bn being lost to scams by 2018. Even though it seemed unbelievable to many at the time, unfortunately that milestone was easily passed.

DC Governance – a tale of the Good, the Bad and the Ugly

Wednesday, May 26, 2021

An analogy comparing DC governance to a spaghetti western (however iconic!) may seem tenuous – but when PASA reviewed TPR’s recently published ‘Defined Contribution trust-based pension scheme research report’, it was more relevant than you might at first imagine.

Pension Wise and Otherwise

Monday, May 10, 2021

For the past six years, pension savers with defined contribution (DC) pots have had to decide for themselves how best to fund their retirement. It might be the hardest decision they ever have to make, especially if they’re relying on income drawdown because they don’t know how long the pot will have to last. DC savers carry the longevity risk.

Sidecar Blues

Friday, April 23, 2021

It’s generally acknowledged that as a nation, we’re not saving enough. A lot of people don’t have any savings at all, and a lot more don’t have significant pension savings. Personal expenditure all too often rises to match income, so it’s hard for many people to save, and even harder to voluntarily commit funds to a retirement scheme which they can’t get at again for decades. But we need to do both.

RPI reform – issues and actions for trustees

Wednesday, April 21, 2021

Following a period of consultation, the Government announced on 25 November 2020 its intention to align the Retail Price Index (RPI) with the Consumer Price Index including housing costs (CPIH) from 2030.

A Misguidance Manual

Friday, March 12, 2021

The single biggest problem with communication is the illusion that it has taken place.

- George Bernard Shaw

There is no such thing as a free SARs

Monday, February 22, 2021

Or a free lunch for that matter. Paul Sturgess, PASA discusses Subject Access Request (SARs).

Working to Combat Scams

Tuesday, February 16, 2021

As we look forward with hope that the dedication, expertise and teamwork of our scientists, doctors and healthcare professionals will enable us to overcome this dreadful virus, so too in the world of pension scams we hope that the determination and focus of so many good people in the industry can really see us make a difference in the year ahead.

Whole lotta shakin’ goin’ on

Tuesday, December 22, 2020

Jerry Lee Lewis recorded this in 1957, a year after Bill Haley’s film “Rock Around the Clock” had teenagers here dancing in the aisles and their appalled elders fulminating about the end of civilisation (as they knew it). Guy Opperman isn’t old enough to have witnessed that, but it seems he’s on a mission at the moment to shake up the pensions industry.

I have a dream...

Wednesday, December 16, 2020

I don’t often quote ABBA, but it seems a little relevant just now...

Reasons to be cheerful

Tuesday, December 15, 2020

'Even in these trying times there are positives to be found – we should be using these challenges as an opportunity for change. '

Superfunds – complementary or competition?

Friday, November 13, 2020

As the market for commercial consolidation vehicles (‘superfunds’) rapidly develops, the Pensions Regulator (TPR) issued its guidance to defined benefit scheme trustees and employers considering a superfund transaction.

Triennial Valuations - should you take the fast track?

Thursday, October 29, 2020

The new funding code is due to be introduced shortly, leading to some of the most significant changes in actuarial valuations in many years. The new funding code will introduce two approaches for trustees to choose between: fast-track and bespoke.

The first of October

Tuesday, October 6, 2020

We’re living in a time when almost anything familiar is celebrated. Uncertainty makes us uncomfortable and total uncertainty is intolerable. We need a frame of reference.

Digital Pensions – What Future for DB?

Tuesday, September 29, 2020

Digital advancements over recent years meant, fortunately, pensions administration (like the whole of the pensions industry) was able to carry on successfully, in the main, during lockdown. However, the same cannot be said for pension scheme members themselves, particularly those of DB schemes, and that needs to change.

Stop scammers in their tracks

Monday, September 21, 2020

''£2.5bn still sits in pension savings today, a rich seam for scammers and if we don’t do something now.'' Margaret Snowdon lays out what the PSIG are doing to combat criminal activity.

SIPs - What are they for?

Friday, September 18, 2020

SIPs: Let's talk education and engagement in yet another push for transparency and disclosure

1st October is approaching……

#NotAnotherTemplate

Thursday, September 10, 2020

There’s a growing demand for pension funds to justify their costs. The costs that are hardest to pin down relate to investments in private markets – and private equity in particular. They are also often the most material.

Is Fast Track the Right Track for buy-out?

Friday, August 28, 2020

The new funding regime is likely to make buy-out more attainable, but schemes need to be alert to avoid unintended consequences

COVID-19 – A New Marshall Plan?

Friday, August 14, 2020

The exceptional market volatility and global economic impact that has come with the COVID-19 pandemic has brought an equally exceptional response from global policy makers....

Funding the last third

Monday, July 27, 2020

How the financial services sector can do more to help fund the last third of our lives.

Cybercrime and Pensions Administration

Tuesday, July 21, 2020

In 2019, cybercrime and fraud constituted 42% of all criminal activity. With the advances in technology the whole of society is experiencing, its no surprise that crime is evolving too..

The consequences of pension scams

Thursday, July 16, 2020

Margaret Snowdon takes us through the importance of tackling pensions scams and what the industry can do about it.

Sunny Summer Statement

Friday, July 10, 2020

The usual frenetic febrile flurry of fears for pensions ahead of a major announcement by the Chancellor proved, once again today, unwarranted. Nothing about the triple lock rule for state pension increases; no mention of NICs on pensions; and above all, no dramatic seismic shift on tax relief. Rishi Sunak makes headlines of a different kind.

Welcome news from the regulators

Wednesday, July 1, 2020

On 18 June, The Pensions Regulator (TPR) issued guidance on a regime that now allows defined benefit schemes to proceed to consider and ultimately transact with a commercial consolidator or “superfund”.

A time to choose

Monday, May 18, 2020

Life in slow motion: That’s how a video camera might record human activity on Earth now. The streets are empty, almost as if a neutron bomb has gone off. Many aspects of normal life are paused. On closer examination though, there’s a lot going on.

Every villain needs a hero

Tuesday, May 5, 2020

Margaret Snowdon, Chair of the PSIG, draws our attention to the side effects of the Coronovirus crisis and some welcome changes for the pensions industry.

Reset: regulators row back

Thursday, April 9, 2020

March was chaotic, wasn’t it? New terms became familiar: ‘self-isolating’, ‘underlying health condition’, and so on. We’re all having to adjust to new ways of living as well as working. There are no certainties any more, it seems.

Panic buying pensions

Monday, March 16, 2020

What on earth can an empty supermarket shelf have to do with pensions?

What the Budget should say...

Friday, March 6, 2020

This year the usual anxious speculation about what damage the next Budget might do to UK pensions has been exacerbated by Treasury kite-flying in the press. It might seem we are being led to expect something dramatic, so that when a slightly less swingeing cut is announced the industry breathes a sigh of relief.

Making good use of cost data: #2 – am I getting value-for-money?

Monday, February 24, 2020

The Cost Transparency Initiative (CTI) templates are helping pension funds to get a grip on their investment costs – but how can funds make the data useful?

Making good use of cost data: #1 – are my costs reasonable?

Tuesday, February 11, 2020

The Cost Transparency Initiative (CTI) templates are helping pension funds to get a grip on their investment costs – but how can funds make the data useful?

Pension Schemes Bill 2020 - What do we want?

Tuesday, January 21, 2020

PSIG await the new Pension Scheme Bill 2020 hoping for stronger legislation against scams, and more power for Trustees. Margaret Snowdon explains why it is important to give Trustees more influence over transfer options.

The Pensions Drawdown Transfer Window

Wednesday, January 15, 2020

The transfer window for scheme members in non-advised pension drawdown will open on 1 August and we could see some big drawdown transfers from August. The FCA introduced IGCs in 2015. Fast forward to July 2019, and the FCA published PS19/21, which mandated that providers of drawdown solutions create four investment pathways for savers moving into non-advised drawdown.

Be careful what you wish for

Wednesday, January 8, 2020

They say you should be careful what you wish for, not least from the government; but expectations for 2020 are already low, so it’s worth a try.

Dashboards - the lighthouse in a fog of fake news?

Monday, November 11, 2019

Kim Gubler explores the lead up and anticipation for the pensions dashboard, and how schemes should be preparing to ensure that members are met with a product they have confidence in.

Time is of the Essence

Tuesday, October 29, 2019

Sackers outlines the latest legal changes to SIPs – are you ready for 2020?

Five tips for trustees when re-tendering for fiduciary services

Friday, October 11, 2019

Since the CMA published its final order into the Fiduciary Management market in June, trustees with Fiduciary Management arrangements have been digesting the impact for their schemes and reviewing their next steps.

What are we waiting for?

Monday, September 23, 2019

In this article Ian Neale looks at pending legislation and discusses the impacts of the current political environment.

Measure what matters, not what’s easy

Wednesday, September 4, 2019

Measure what matters, because what gets measured gets managed. This should be a new mantra for the pensions admin world.

Combating pension scams – It’ll take a village

Thursday, August 15, 2019

It’s not our fault that scammers continue to find opportunity to prey on vulnerable pension scheme members, but we’re the only ones with a hope of spotting the rogues, because members certainly can’t. For the sake of members and ourselves, trustees and providers must do all they can to stop dodgy transfers.

Pension MAPS - prevention is better than cure

Tuesday, July 23, 2019

There’s been some talk lately of the need to pay more attention to our financial wellbeing, alongside physical and mental wellbeing. Research has shown we’re in even worse shape, financially, than physically or mentally.

5 steps towards helping members safeguard their retirement

Thursday, June 20, 2019

Margaret Snowdon urges Trustees to take action to combat pension scams and to help change members attitudes when it comes to protecting their futures.

Cyber security - are you prepared?

Tuesday, June 11, 2019

Cybercrime is a $7 trillion global industry and cyber criminals are finding new sophisticated ways to attack. The pensions industry needs to take more precautions and always be prepared.

On Trust

Monday, June 10, 2019

If you go to the doctor and get given a prescription, it’s likely you’ll take the medicine. If a qualified solicitor gave you legal advice, you’d probably follow it. But would you trust a financial adviser?

How do we protect people from themselves?

Tuesday, June 4, 2019

Kim Gubler looks at the way pension scams are evolving and discusses how the pensions industry can do more to protect their members.

Every minute matters

Thursday, May 16, 2019

Small tasks can often be the most important. There can be legal consequences for pension schemes if meetings are not recorded accurately, Sackers reveal how trustees and scheme secretaries can be effective when minute taking.

Putting the Cart before the Horse

Monday, May 13, 2019

John Simmonds tackles the issues of benchmarking when it comes to alternative investing.

2020 pathways – Drawdown moves to 3G

Thursday, May 2, 2019

We look at the emergence of new drawdown pathways since the introduction of pension freedoms and the next steps for trustees and schemes.

The 2019 annual funding statement: Five expectations, two to expect and three to be expected...

Thursday, April 25, 2019

This article takes a look at what The Pensions Regulator expects of trustees and how the funding statement is relevant to all DB pension scheme employers.

If the cap fits

Thursday, April 11, 2019

Ian Neale tackles the complexities of the charge cap.

What's new at the Pensions Ombudsman

Friday, April 5, 2019

In this update we cover a range of different issues in relation to the Pension Ombudsman (TPO), including:

• A new government consultation on TPO’s powers to resolve both pension complaints and disputes;

• The introduction of fixed amounts for non-financial injustice awards; and

• A reminder of key issues for trustees faced with overpayments, in light of recent case law.

Transfer Pains

Thursday, April 4, 2019

Trustees have, for a number of years, been at the forefront of a pension transfer renaissance. While in general terms, the introduction of pension flexibilities (through the government’s “freedom and choice” reforms in April 2015) has generally been seen as a positive step for pension scheme members, it has, and continues, to put the role of pension trustees under the microscope.

In this article we consider the evolution of the transfer process and the trustees’ role in it, as well as issues arising from past transfers, and potential future developments.

How can contingent assets reduce the PPF levy?

Thursday, February 21, 2019

The levy imposed by the Pension Protection Fund (the PPF) can be costly for employers of defined benefit (DB) schemes, especially in respect of schemes that are already underfunded. Contingent assets can be an attractive option to reduce the levy.

For Whom the Bell Tolls

Friday, February 15, 2019

The time for debate about climate change is over: it’s happening, it’s accelerating, and we are responsible for it. But negative human impacts on the environment go ‘beyond’ climate change. Socio-economic stability is under threat. It could be even worse than the global financial crisis in 2008: a lot worse, in fact.

GDPR – where are we now?

Monday, January 14, 2019

We’ve welcomed 2019 with open arms and, with New Year resolutions made, it is a good time to take a look at what pension schemes should be doing in respect of the General Data Protection Regulation (GDPR).

Don’t burn out on data, the real mileage is in comparison

Tuesday, December 18, 2018

Richard Butcher explains why the the Cost Transparency Initiative is important but could be lost in translation without a comparative.

Come Together

Friday, December 14, 2018

DB schemes, Master Trusts and Collective Defined Contribution (CDC) schemes can take advantage of coming together, Ian Neale discusses the benefits.

Back to the future

Friday, December 7, 2018

Gillian Hickey looks at the the recent ruling on GMP equalisation and discusses how the industry can make this work in practice.

Responsible Investing: Implications for Pensions

Wednesday, November 21, 2018

'Assets managed under some form of sustainable, responsible investing mandate across the globe grew from $18 trillion in 2014 to $23 trillion in 2016' Matt Tucker looks at the measures investment managers take to satisfy scheme trustees of their credentials in relation to responsible investing.

Getting ScamSmart

Friday, November 16, 2018

In a previous blog I drew attention to the recent update to "Combating Pension Scams: A Code of Good Practice’ from the Pensions Administration Standards Association (PASA).

How to solve a problem like GMP equalisation

Friday, November 9, 2018

The High Court handed down its decision in Lloyds Banking Group Pensions Trustees Ltd v Lloyds Bank plc and others at the end of October. The decision provides long-awaited clarification that there is a requirement to equalise for the effect of guaranteed minimum pensions (GMPs), and approves methods to achieve this.

What are Regulators for?

Monday, November 5, 2018

Ian Neale looks at the recent joining of regulatory forces and asks; what has this achieved?

Retirement choices: a DC trustee responsibility?

Monday, October 29, 2018

Pensions freedoms have created a world of retirement choices for members since they were introduced in 2015. But where does this leave trustees of occupational DC schemes – Sackers ask, is it a DC trustee responsibility?

The rise of the Robo Advisor: interrupted

Thursday, October 18, 2018

Fintech continues to threaten traditional business models, from banking and credit through to digital escrow’. Word on the street is Fintech is on the verge of disrupting the pensions industry. Call it Pentech (Pensions Technology) or TechFin (technology firms entering the financial arena), the threats are endless. On this basis, the Pensions Dashboard, Blockchain and Robo-advice should be just around the corner.

Cruising to good data

Friday, August 31, 2018

High quality data is a very, if not the most, important input to provision of a successful administration service. Geraldine Brassett identifies the key factors when is comes to providing quality service.

Freedom, choice and equality

Friday, August 17, 2018

Taylor Smith discusses the momentum that is gathering behind the Daily Mail campaign to allow people to commute annuities purchased before April 2015.

Reconciling our differences - GMP

Wednesday, July 25, 2018

“Tens of thousands” of pension scheme members are being asked to return overpayments of pensions, PTL's Alison Bostock looks at the truths behind the headlines.

Combating Pension Scams

Tuesday, July 3, 2018

Ian Neale addresses the changing nature of pension scams and how the industry plans to tackle them.

Old and new worlds meet

Wednesday, June 13, 2018

Active membership of defined benefit (DB) pension schemes has fallen by just over one million in the past seven years, with most predictions forecasting that the remaining 12% of still-active private sector DB schemes will close before the end of the next seven. While the pace of closures appears to be slowing, the outcome remains inevitable.

Emerging trade war?

Thursday, June 7, 2018

The President’s announcement to impose tariffs on $60 billion of Chinese imports has reignited these fears

The deadline has passed

Tuesday, May 22, 2018

Are trustees compliant?

Clearer, quicker, tougher

Monday, May 21, 2018

Clearer, quicker, tougher - why TPR's new mantra matters to you

GDPR: are you ready for new data regulations?

Friday, May 11, 2018

What are the biggest issues you need to be aware of – and how should you tackle them?

Changing administrators? Here are 5 top tips for a smooth transition

Thursday, April 26, 2018

Changing your pension administrator is a big deal. Let’s face it, most trustees are at least a little resistant to change given the complexity and perceived risk involved. Even with meticulous planning and research, plenty of headaches await should you fail to get it right.

PPF Levy – Do you know the score?

Thursday, April 12, 2018

Ahead of the PPF levy deadline Robert Palmer explains how checking your data is correct could save more than just money.

The DWP’s White Paper: eight take-outs for trustees

Thursday, March 29, 2018

The government’s long-awaited Protecting Defined Benefit Pension Schemes White Paper was published this week. In it, the DWP outlines plans to boost the protection of DB members’ benefits –mainly by giving more powers to The Pensions Regulator.

Cyber challenges and the 21st century trustee

Wednesday, March 21, 2018

For all the benefits that technology has given rise to, it poses just as many risks. In the 21st century, personal data is an increasingly valuable commodity, with pension schemes, by their very nature, holding an enormous amount of it. While technology has enabled scheme administration to be automated and to be shared quickly, it has also brought with it many risks that cannot be ignored.

Pension freedoms: transfers from DB to DC schemes

Thursday, March 15, 2018

In this article, Suzanne Padmore, Legal Director at Burges Salmon considers current issues relating to pension transfers and the use of the pension freedom reforms. She also looks at what 2018 holds for possible improvements to consumer protection in this regulated environment.

How to get ready for the annual Pension Benefit Statement (IORP II)

Friday, March 2, 2018

Jenny Monger highlights the key points from January's legislation and comments on 3 significant challenges administrators and trustees will face.

Transparency: four things all fund managers should know in 2018

Friday, March 2, 2018

Pension funds are under more pressure than ever to be transparent about their costs.