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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.

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Legal And Regulatory

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.

The Pensions Dashboard: where are we?

Friday, November 17, 2017

We need to get a grip on retirement saving says Aries Insight's' Ian Neale.

Dashboard Ready

Friday, November 17, 2017

The pensions dashboard project is well underway; but what do consumers think and how can schemes prepare ahead of the launch?

Cost Transparency

Friday, October 20, 2017

Communication and explanation is vital.

PASA to mediate on administration service transfers

Thursday, October 5, 2017

The Pensions Administration Standards Association (PASA), the independent body dedicated to pensions standards, is launching a voluntary mediation service.

Inquiry into pensions freedoms 'critical'

Thursday, September 28, 2017

A new inquiry into the 2015 pensions freedom and choice reforms has been announced by The Work and Pensions Committee.

PLSA launches final DB Taskforce report

Thursday, September 28, 2017

The Pensions and Lifetime Savings Association (PLSA) has launched the final report of its Defined Benefit (DB) Taskforce – 'Opportunities for Change'.

Government announces new measures to stop pension scammers

Thursday, August 24, 2017

Private pensions cold calling, including emails and text messages, is to be banned as part of the government's new measures against pension scammers.

Tata Steel UK reaches agreement on £15bn pension scheme

Monday, August 21, 2017

Tata Steel UK has reached the long-awaited agreement over its £15bn pension scheme.

Now: Pensions withdraws from auto-enrolment providers list

Thursday, July 27, 2017

Now: Pensions has withdrawn from the master trust assurance list of providers for auto-enrolment.

PQM announced consultation on future standards for DC pensions

Thursday, July 13, 2017

The Pension Quality Mark Ltd (PQM) has announced a wide-ranging consultation on the future standards for defined contribution(DC) pension provision in the UK.

Equal pension rights for same sex couples in landmark legal case

Thursday, July 13, 2017

"A great cheer" should be heard across the pensions industry today, after a Supreme Court ruling that same-sex married couples can receive the same pension rights as opposite sex married couples.

FCA publishes final report into asset management sector

Friday, June 30, 2017

The Financial Conduct Authority (FCA) has published the final findings of its asset management market study.

Separation of pension wealth important as divorce age hits all-time high

Friday, June 23, 2017

Agreeing a fair separation of pension wealth is more important than ever as the average age for divorce reaches its highest ever number for men and women.

Schemes urged to prepare for new data legislation

Thursday, June 1, 2017

Pensions schemes need to get ready for the introduction of the General Data Protection Regulation (GDPR) in less than a year.

PLSA unveils pension priorities

Thursday, May 11, 2017

The Pensions and Lifetime Savings Association (PLSA) has announced six priorities for pensions ahead of the snap general election in June.

Setting Standards

Wednesday, May 10, 2017

Tim Middleton discusses the need to properly regulate professional trustees.

Pension Protection Fund launches levy consultation

Friday, March 31, 2017

The Pension Protection Fund (PPF) has launched a consultation outlining how it will develop the Pension Protection Levy over the next three-year period.

Qrops tax hits wrong target, says Pension Life

Thursday, March 23, 2017

The government is letting pension scammers off the hook by targeting legitimate firms, according to Pension Life.

Kingfisher head joins Legal & General

Tuesday, March 14, 2017

Dermot Courtier has been appointed as chairman of the Legal and General Master Trust, and of the L&G Independent Governance Committee (IGC).

Pension freedoms raises £2.6bn in tax receipts

Friday, March 10, 2017

The government has raised £2.6bn in tax receipts because of pension freedoms - and it could be at the expense of funding retirement.

Trustees must act after landmark legal case

Thursday, February 23, 2017

A landmark legal case in Northern Ireland could lead to wide-ranging implications for the UK's public sector pension schemes.

DWP launches DB Green Paper

Thursday, February 23, 2017

The Department for Work and Pensions launched a consultation into Defined Benefit (DB) pensions this week.

Government consultation on pension scams has closed

Thursday, February 16, 2017

The Government consultation setting out a package of measures to tackle pension scams, has now closed.

One in five firms missing auto enrolment deadline

Thursday, January 26, 2017

A high proportion of companies are signing up to auto-enrolment late, according to workplace pensions provider Now: Pensions.

PLSA outlines pension scheme Brexit needs

Friday, January 20, 2017

The Pensions and Lifetime Savings Association has outlined three things needed to ensure Brexit works well for pension schemes in the UK.

Barnett Waddingham awarded PASA accreditation

Friday, January 20, 2017

The Pensions Administration Standards Association (PASA) has announced Barnett Waddingham LLP as the latest organisation to have successfully earned PASA accreditation.

One in five vulnerable to online pension scams

Friday, January 6, 2017

Over 45s are more likely to be targeted by pension scammers by email than by phone, a new report has found.

Auto-enrolment reviewed in Government report

Thursday, December 15, 2016

The Department of Work and Pensions (DWP) has released its latest review of automatic enrolment.

Government launches pension scam consultation

Thursday, December 8, 2016

The Government has launched a consultation on three types of measures to tackle pension scams.

deVere boss commends overseas pensions tax plans

Friday, December 2, 2016

Nigel Green, chief executive of deVere Group, has praised government plans to bring the tax treatment of overseas pensions more closely in line with the UK's domestic pension tax regime.

Pension cold calling to be criminalised

Friday, November 25, 2016

The government is clamping down on scammers taking advantage of pension freedoms by cold calling with new measures, announced in the Autumn Statement.

FCA announces Lifetime ISA guidance

Friday, November 18, 2016

The Financial Conduct Authority (FCA) has outlined its approach to regulating the promotion and distribution of the Lifetime ISA (LISA).

PLSA call for improved reporting on workforce

Thursday, November 10, 2016

The Pensions and Lifetime Savings Association (PLSA) has written to the chair of every FTSE350 company, asking them to share information with investors about their workforce.

Master trusts must meet new criteria

Tuesday, October 25, 2016

What impact will the new regulations have on the success of the master trusts?

Small businesses have 'pensions stage fright', says FSB

Friday, September 30, 2016

The Federation of Small Businesses (FSB) says smaller and micro businesses in the UK are suffering from 'stage fright' - a phenomenon preventing them from complying with workplace pensions legislation.

Five key areas for auto-enrolment review, says Now: Pensions

Thursday, September 22, 2016

Workplace pension provider Now: Pensions, is calling for the Department for Work and Pensions to consider a number of key areas in its 2017 review of auto-enrolment.

Support for retirement quality mark

Thursday, August 18, 2016

A consultation on developing a Retirement Quality Mark (RQM) has revealed support from respondents.

FTSE 100 companies pay more in dividends than pension contributions

Thursday, August 18, 2016

The combined pension funds deficit for companies in the FTSE 100 has seen huge increases in the past year, according to pensions consultancy LCP.

Government inquiry to investigate pensions

Thursday, August 11, 2016

The collapse of BHS has caused MPs to widen their inquiry to include DB schemes in general.

New DC code of practice in force

Thursday, August 4, 2016

The Pensions Regulator's new code of practice for defined contribution (DC) schemes is now in force.

Fidelity sets out pension priorities

Thursday, July 21, 2016

Fidelity International set out six key priority areas for government policy on pensions, ahead of new Prime Minister Theresa May's first cabinet meeting.

Schemes may still need to prepare for the revised IORP II

Friday, July 15, 2016

Finalised legislative changes to the IORP II may still apply to the UK before the country makes its departure from the EU.

PMI sets out vision for the future

Thursday, July 7, 2016

The Pensions Management Institute (PMI) is marking its 40th year by setting out its vision for the industry.

Qualification to set new benchmark for Trustees

Thursday, June 30, 2016

The Association of Professional Pension Trustees (APPT) Council and the Pensions Management Institute have launched a joint consultation into the introduction of a Pension Trusteeship diploma.

Chair of PensionsEurope to make recommendations at 2016 conference

Friday, June 24, 2016

The second PensionsEurope conference in Brussels is taking place this week, and chair Janwillem Bouma will address a variety of industry concerns.

Highest number of workers aged over 50 since records began

Thursday, June 16, 2016

More than nine million UK working people are aged over 50, according to the latest official employment figures.

PASA welcomes regulator DC code

Thursday, June 9, 2016

The Pensions Administration Standards Association (PASA), says the new Pensions Regulator's (TPR) DC code and 'how to guides' are a positive move for pensions administration.

Savers should learn from BHS and Tata Steel pension crises

Thursday, June 9, 2016

The recent crises for BHS and Tata Steel pensions schemes should be a "wake up call" for people with final salary pensions.

The Queen announces a new Pensions Bill

Friday, May 20, 2016

A new Pensions Bill that includes measures to give The Pensions Regulator more powers to regulate master trusts, cap early exit charges, and increase protection for savers, was announced on Wednesday in The Queen's speech.

Trustees must hold professional qualification; research finds

Friday, May 13, 2016

New research from the Pensions Management Institute (PMI) has revealed that professional qualifications for trustees are crucial.

PASA announces revised standards

Friday, May 13, 2016

The Pensions Administration Standards Association (PASA), has revised its standards to simplify the initial stages of accreditation.

Auto-enrolment is working, says Pensions Regulator

Friday, May 6, 2016

The Pensions Regulator has published its latest figures showing employer compliance with automatic enrolment since it was introduced in October 2012.

Capita insights reveals pension manager pressures

Thursday, April 28, 2016

The second annual Pension Scheme Insight Report, from Capital Employee Benefits, has highlighted some of the challenges faced by pension managers and trustees.

EU pensions regulator ends work on solvency-based funding regime

Thursday, April 21, 2016

Pension schemes and trustees have welcomed the news that EIOPA, the EU pensions regulator, is ending its work on a solvency-based funding regime for pensions.

Double win for Hymans Robertson

Friday, April 15, 2016

Hymans Robertson is the first pensions and benefits consultancy to achieve accreditations from two major industry bodies.

Cost of public service pension set to rise again

Thursday, April 7, 2016

Public service pension schemes will cost an extra £3bn a year, according to financial services giant KPMG.

Pension minister warns of pension 'master trusts'

Friday, March 11, 2016

Pensions minister Ros Altmann has called for stronger regulation to protect people who are in multi-employer pensions.

Top five myths of auto-enrolment

Wednesday, February 24, 2016

With 500,000 small firms due to introduce workplace pensions, Now: Pensions has released that top five myths surrounding auto-enrolment.

L&G announces technology partnership

Friday, February 19, 2016

Legal & General has a new technology partner for the SME auto enrolment market.

New PMI partnership to take on workplace education

Thursday, February 4, 2016

The Pensions Management Institute (PMI) has announced a new partnership with WEALTH at work to tackle the lack of financial education in the workplace.

Toughest test is still to come for auto-enrolment

Thursday, January 28, 2016

A new government report into auto-enrolment has concluded that while the roll out has been successful for larger companies, the real test is still to come.

Regulator responds to first EU-wide stress test

Thursday, January 28, 2016

The Pensions Regulator (TPR) has endorsed the conclusion of the pension stress test carried out by the European Insurance and Occupational Pensions Authority (EIOPA).

Top scammer phrases revealed as pension victim numbers soar

Thursday, January 14, 2016

A list of top fraud watchwords for scheme members has been released by ACA Pension Life.

Meeting liabilities is key challenge for pension schemes

Friday, January 8, 2016

The increased cost of meeting liabilities will be a challenge for both Defined Benefit (DB) and Defined Contribution (DC) pension schemes in 2016, according to BlackRock.

Green light for second-hand market in annuities

Thursday, December 17, 2015

The news of the government's plan for a new second-hand market in annuities has been greeted with caution.

Tax confusion over pension reforms

Thursday, November 19, 2015

More than half of the general public are still unsure about what the tax rules are when it comes to taking cash out of pension, new research has found.

Gold standard for Hymans Robertson

Thursday, October 29, 2015

The Pensions Administration Standards Association (PASA) has awarded its gold standard in administration to independent consultancy Hymans Robertson.

New report calls for swift action on insufficient pension freedoms

Thursday, October 22, 2015

A new report from the Work and Pensions Committee has called on the government to act swiftly to give people more information about pensions.

Pension specialist warns of charity trap

Thursday, October 1, 2015

Charities are being given a "Hobson's choice" by legislation that forces them to keep either funding further unaffordable benefits or to settle an unaffordable cessation cost.

Better corporate reporting to close gender pay gap, says NAPF

Thursday, September 10, 2015

The NAPF has published its submission to the government's consultation Closing the Gender Pay Gap.

Pensions Regulator will protect Docklands Light Railway pension scheme members

Thursday, September 10, 2015

The Pensions Regulator has published details of its funding investigation into the Docklands Light Railway (DLR) Pension Scheme.

Pensions regulator issues new guidance for DB trustees

Thursday, August 20, 2015

The Pensions Regulator (TPR) has published the first in a series of guides for trustees of DB occupational pension schemes to help them apply the DB funding code of practice.

Former pension fund director says merging local funds will undermine investment

Thursday, August 13, 2015

The government's proposal for LGPS funds to pool assets will undermine the freedom of individual funds, according the former director of West Midlands Pension Fund.

Pensions Regulator warns SMEs to act now on auto enrolment

Friday, August 7, 2015

The Pensions Regulator issued warning to 1.8 million small and micro employers to check when they must meet new workplace pension duties.

Pension fraud has tripled since reform

Thursday, July 30, 2015

Pension fraud worth GBP 4.7million has been reported by members of the public in May, according to Action Fraud, part of the City of London Police.

ShareAction launches policy vision for pensions success

Thursday, July 16, 2015

A new report from ShareAction, the charity that promotes responsible investment, says the UK pensions market is too complex for savers.

Reform must be given time to work, says pensions minister

Thursday, June 11, 2015

The government will not force pension providers to deliver on promised freedoms, in order to give reform a chance to work.

The Judiciary contest new pension scheme reform in an unparalleled legal case

Friday, June 5, 2015

The Judicial reform Stage 2 which was introduced in April 2015 and initially proposed by the coalition government presents an unwelcomed new pension scheme for the judiciary.

Auto enrolment – there's nowhere left to hide

Friday, June 5, 2015

Workplace pensions provider NOW: Pensions says auto enrolment needs to be taken more seriously with fines for small companies at £500 per day

Pensions Regulator publishes annual funding statement

Thursday, May 28, 2015

The Pensions Regulator has set out its analysis of the market in its 2015 annual funding statement.

NAPF launches new guide to security fraud

Thursday, May 21, 2015

The NAPF has published a new Made Simple Guide, offering pension funds an introduction to procedures available to pursue legal claims when affected by securities fraud.

NAPF responds to FCA's DB to DC transfers consultation

Thursday, April 16, 2015

The NAPF has responded to the FCA consultation which sets out their revised regulatory approach to advice on DB to DC transfers.

New qualification for pensions transfers

Thursday, April 16, 2015

A new pensions qualification has been launched for pensions professionals wishing to offer advice on pension transfers.

Pension schemes fear new accounting rules could raise costs

Wednesday, April 1, 2015

One fifth of pensions professionals fear that the new Statement of Recommended Practice (SORP) for pension scheme accounting could raise the cost of preparing statutory accounts, according to a recent survey.

Chancellor confirms pension changes in Budget 2015

Thursday, March 19, 2015

Chancellor George Osbourne announced a cut in the Lifetime Allowance (LTA) and an extension to pension freedoms to 5m annuity holders, in his final budget before the general election.

PASA highlights top demands on administrators

Thursday, January 29, 2015

Reform and policies announced in last year's budget will present the greatest challenges to pension fund administrators, according to The Pensions Administration Standards Association (PASA).

NAPF disappointed with EIOPA's work on solvency

Thursday, January 15, 2015

The European Insurance and Occupational Pensions Authority (EIOPA) should be addressing more pressing issues than a solvency system for pensions, according to the National Association of Pension Funds (NAPF).

Change afoot for New Year

Thursday, January 8, 2015

The influence of the general election, changes to regulation, and ongoing challenges with auto-enrolment are some of the issues facing the industry for 2015, according to experts across the sector.

Half of industry expects DB schemes to miss April deadline

Thursday, December 11, 2014

Most defined benefit schemes will miss the April 2016 deadline for accurate assessments of members' guaranteed minimum pension (GMP) rights, according to new research.

Savers could be missing out on £90,000

Friday, November 28, 2014

Savers could be missing out on as much as £90,000, as a result of the way pensions contributions are calculated, according to NOW: Pensions - a subsidiary of ATP, one of Europe's largest pension schemes.

Altmann urges UK to re-think older workforce

Thursday, October 30, 2014

Embracing older workers is the way forward for businesses, according to the Government's business champion for older workers Dr Ros Altmann.

Plans to increase retirement age

Thursday, October 9, 2014

Government plans to increase the retirement age by six months per year have been announced this week by pensions minister Steve Webb.

"No support for pension reform without levy" says IAPF

Thursday, October 2, 2014

Proposed reforms to the second-pillar pension system in Ireland are unlikely to gain support – unless the Irish government abolishes the 0.15% pensions levy, according to the Irish Association of Pension Funds (IAPF).

Osbourne announces pension "death tax" to be scrapped

Thursday, October 2, 2014

Chancellor George Osbourne has announced plans to abolish the so-called death tax on pensions.

Scottish 'no' vote means 'yes' to tax changes

Thursday, September 25, 2014

Scotland's 'no' vote for independence does not mean 'no change' for pension schemes, industry experts have said.

EU names UK's Jonathan Hill as financial services commissioner

Friday, September 12, 2014

The European Union (EU) has appointed Lord Jonathan Hill as the new financial services commissioner.

NEST restrictions to be lifted

Friday, September 12, 2014

The annual contribution limit and transfer restrictions on the National Employment Savings Trust (NEST) will be removed in April 2017, the UK Government has confirmed.

FRC fines Mazars £2m for pension advice failings

Friday, September 5, 2014

The Financial Reporting Council (FRC) has ordered UK accountancy firm Mazars and one of its partners to pay almost £2m for failing to give good advice to the trustees of the First Quench pension fund.

Lehman Brothers FSD case reaches settlement

Thursday, August 21, 2014

The Lehman Brothers pension scheme is set to pay full retirement benefits to its members to avoid entry into the Pension Protection Fund (PPF), following a settlement agreement worth £184m.

TPR's DB funding code comes into force

Tuesday, July 29, 2014

The Pensions Regulator's (TPR) latest defined benefit (DB) code of practice comes into force today.

Independent organisations to give "guaranteed guidance"

Friday, July 25, 2014

The UK Government has announced that the guaranteed guidance on pensions choices will be provided by independent organisations rather than pension schemes or providers.

ShareAction calls for more accountability and transparency in pensions

Thursday, July 17, 2014

The UK's private pension providers' duties should be enshrined into law to ensure accountability and transparency, campaign group ShareAction has said.

"Intelligent" approach needed to improve LGPS

Wednesday, July 16, 2014

The Local Government Pension Scheme (LGPS) should not be treated as a "homogenous whole" by the Government, the National Association of Pension Funds (NAPF) has warned.

TPR publishes guides to improve public service pension standards

Thursday, July 10, 2014

Two new "quick guides" have been published by The Pensions Regulator (TPR) to help public service pension schemes to govern and administer themselves effectively.

Law Commission clarifies fiduciary investment duties

Tuesday, July 1, 2014

Pension fund trustees should only take ethical or environmental, social or governance (ESG) issues into account if they are "financially material" to the performance of an investment, the Law Commission has said.

EIOPA calls for smarter regulation

Friday, June 20, 2014

The European Insurance and Occupational Pensions Authority (EIOPA) has called for "smarter" financial regulation, rather having than more or having less regulation, to improve consumer confidence.

Queen's Speech on pensions receives mixed reactions

Wednesday, June 4, 2014

The Queen's Speech heralded a number of reforms to the pensions market in the UK and the industry's reaction on the legislation has been mixed.

Queen's Speech confirms pension reforms

Wednesday, June 4, 2014

Two pensions bills will be introduced as part of sweeping reforms to the pensions landscape in the UK, the Queen confirmed in her speech today.

PTL urges pensions industry to respond to PPF consultation

Tuesday, June 3, 2014

The pensions industry should respond quickly to a Department for Work and Pensions (DWP) consultation that could safeguard the pensions of hundreds of individuals in the UK, Pitmans Trustees Limited (PTL) has urged.

TPR sets out priorities in three-year plan

Wednesday, May 21, 2014

The Pensions Regulator (TPR) has said that one of its priorities for the next three years will be to maximise compliance with auto-enrolment duties among medium, small and micro employers (SMEs).

PwC urges Government to scrap state pension age

Tuesday, April 29, 2014

The UK Government should scrap the state pension age and should replace it with a state pension window, PricewaterhouseCooper (PwC) has urged.

DWP warns independent Scotland will face "more acute" pension costs

Friday, April 25, 2014

An independent Scotland would face additional financial pressures paying for an aging population than if it remained in the UK, the Department for Work and Pensions (DWP) has warned.

TPR issues auto-enrolment non-compliance warning to employers

Thursday, April 24, 2014

The Pensions Regulator (TPR) has warned that employers that are struggling to meet their auto-enrolment duties should alert the organisation sooner rather than later.

LGPS funds receive legal advice about tobacco divestment

Thursday, April 10, 2014

Local Government Pension Funds may take into consideration the public health implications of tobacco investment, as long as the replacement assets are able to deliver the same financial returns.

TPR opens investigations into scheme record-keeping

Tuesday, April 1, 2014

Seven case investigations into scheme record-keeping have been opened by The Pensions Regulator (TPR) following its thematic review.

DWP announces pensions charge cap

Friday, March 28, 2014

The Department for Work and Pensions (DWP) has announced that it will introduce a 0.75% cap on charges for default funds of all qualifying pension schemes.

EU publishes revised pensions directive proposals

Thursday, March 27, 2014

The European Union has published proposals to update the rules for occupational pension funds in Europe.

Budget 2014: industry reactions

Wednesday, March 19, 2014

Here are a variety of views regarding the surprising pension changes during announcement by Chancellor George Osborne.

Budget 2014: Osborne announces "radical" changes to pensions

Wednesday, March 19, 2014

Chancellor George Osborne announced a set of changes to pensions in this year's Budget to make saving more of an attractive option.

DWP appoints TPR chairman

Wednesday, March 19, 2014

The Department for Work and Pensions (DWP) has announced that Mark Boyle has been appointed as the chair of The Pensions Regulator (TPR).

Budget 2014 can help revive occupational pensions, says NAPF

Friday, March 14, 2014

Next week's Budget is a "golden opportunity" for the Government to support pension schemes and savers through a package of measures to help meet its objective to 'reinvigorate occupational pensions', the National Association of Pension Funds (NAPF) has said.

UK Government should focus on flexible DB schemes

Friday, March 14, 2014

The UK Government should focus on revising current regulations to allow existing defined benefit (DB) and defined contribution (DC) schemes to be more flexible rather than attempt to create a new regime, Mercer has said.

TPR urges employers to check when auto-enrolment affects them

Tuesday, March 11, 2014

Small and medium employers should find our when their new workplace pensions duties begin, The Pensions Regulator (TPR) has said.

Draft EU directive to change 'fully funded' requirement for cross-border schemes

Wednesday, March 5, 2014

The European Union could soon remove the requirement that defined benefit (DB) plans must be 'fully funded at all times' if they operate in more than one EU member state, Towers Watson has said.

DWP maintains protected status of former public schemes

Friday, February 14, 2014

The Department of Work and Pensions (DWP) has decided to maintain the protected status of defined benefit (DB) schemes in formerly nationalised industries.

OFT selects board to oversee DC scheme audit

Friday, February 14, 2014

The Office of Fair Trading (OFT) has appointed a panel of experts to oversee the audit of high cost and legacy defined contribution (DC) schemes.

Irish actuaries urge Government to introduce mandatory pensions

Wednesday, February 12, 2014

The Irish Government should develop a mandatory pension system over the next five years, rather than introduce a "soft mandatory" approach such as auto-enrolment, a group of actuaries have urged.

Scottish Government still needs to answer key questions on pensions

Wednesday, February 5, 2014

The Scottish Government needs to do more to clarify its position on the details of how pensions will be provided in an independent Scotland, the Institute of Chartered Accountants of Scotland (ICAS) has said.

Regulatory change in pensions is too much, too soon, says NAPF

Wednesday, February 5, 2014

The pensions sector in the UK is facing a "capacity crunch" due to the pace and volume of regulatory change, the National Association of Pension Funds (NAPF) has found.

DWP confirms pensions charge cap delay

Friday, January 24, 2014

The pensions industry has largely welcomed the Government's announcement that any cap on charges will not be introduced before April 2015.

Pensions industry welcomes delay in pensions cap charge

Friday, January 17, 2014

The Government's decision to delay the introduction of the pensions charge cap has been welcomed by the industry.

FRC warns companies over classifying pension liabilities as equities

Friday, January 17, 2014

Companies should not enter into arrangements that turn pension obligations into equity instruments in their accounts, the Financial Reporting Council (FRC) has warned.

State pension reforms must go further and faster, argues think-tank

Thursday, January 9, 2014

The Government must accelerate the introduction of a later retirement age and urgently reform labour market regulations to enable people to work longer, the Institute of Economic Affairs (IEA) has said.

Auto-enrolment passes two million landmark

Wednesday, December 18, 2013

More than two million workers have begun saving into a workplace pensions scheme as a result of auto-enrolment, The Pensions Regulator (TPR) has said.

Consumer panel calls for "urgent" reform of annuities market

Thursday, December 12, 2013

Urgent regulatory and government-led structural reform is needed in the "complex" annuity market, the Financial Services Consumer Panel (FSCP) has found.

PPF confirms 2014/15 levy estimate

Thursday, December 12, 2013

The Pension Protection Fund (PPF) has confirmed that the 2014/15 pension protection levy estimate will be £695m as originally proposed.

TPR launches public service pension schemes consultation

Wednesday, December 11, 2013

The Pensions Regulator (TPR) has launched a consultation on its draft code of practice to help public service pension schemes to meet governance requirements set out in legislation.

Autumn statement 2013: state pension age to increase

Thursday, December 5, 2013

The Government has announced in the Autumn Statement 2013 that the rise in the state pension age will be brought forward earlier than expected.

Autumn Statement 2013: industry reactions

Thursday, December 5, 2013

Here are a variety of views regarding the Autumn Statement 2013, which was announced by Chancellor George Osborne.

TPR launches consultation on DB regulation

Tuesday, December 3, 2013

The Pensions Regulator (TPR) has launched a consultation on defined benefit (DB) regulation to set out how it can balance its new objective to minimise the impact on employers' sustainable growth with its existing DB funding objectives.

TPR DC code of practice comes into force

Thursday, November 21, 2013

The Pensions Regulator's (TRP) new code of practice for trustees of defined contribution (DC) trust-based pension schemes has come into effect today.

Uncertainty remains around pensions charge cap

Thursday, November 21, 2013

A number of uncertainties still remain regarding the proposed pensions charge cap, Towers Watson has said.

TPR launches AE compliance visits

Wednesday, November 20, 2013

The Pensions Regulator (TPR) has launched a series of business sector compliance visits by focusing on the recruitment industry.

DWP launches consultation on pension charges

Wednesday, October 30, 2013

The Department for Work and Pension (DWP) has launched a consultation outlining plans on a charge cap of 0.75% in workplace pensions.

UK Government considers savings through pension fund collaboration

Thursday, October 24, 2013

The Department for Communities and Local Government (DCLG) has announced that it is considering a number of options to create savings through pension fund collaboration.

DWP's small pots project prompts debate

Wednesday, October 23, 2013

The Department of Work and Pensions' (DWP) small pots initiative has recently prompted debate on some "quite whacky ideas" for solutions, a solutions provider has said.

NAPF chairman calls for single pensions regulator

Wednesday, October 16, 2013

The National Association of Pension Funds' (NAPF) departing chairman, Mark Hyde Harrison, has called for a single pensions regulator in his final speech.

EIOPA selects members for stakeholder groups

Wednesday, October 9, 2013

The European Insurance and Occupational Pensions Authority's (EIOPA) board of supervisors have appointed new members to its stakeholder groups.

Recommendations for DC market should be "implemented rapidly", says OFT

Thursday, September 19, 2013

Weaknesses within the defined contribution (DC) market have already created a risk of savers losing out, and the problem is likely to increase as auto-enrolment is rolled out if measures are not "implemented rapidly", the Office of Fair Trading (OFT) has found.

NAPF warns DWP of "growing governance gap" in DC market

Monday, September 9, 2013

The current defined contribution (DC) landscape is fragmented and more needs to be done to raise standards, the National Association of Pension Funds (NAPF) has said to the Government.

UK Kodak scheme completes acquisition

Thursday, September 5, 2013

The UK Kodak Pension Plan (KPP) has completed its acquisition of Eastman Kodak Company's (EKC) Kodak Personalized Imaging and Document Imaging businesses and created a new company.

EU pension proposals could have cost the UK nearly half of GDP

Tuesday, August 27, 2013

The European Union's controversial pension proposals could have cost the UK 46% of its GDP, research by Lane Clark & Peacock (LCP) has found.

Millions will lose out under the single tier pension, says TUC

Wednesday, August 21, 2013

Millions of people on a range of income levels will lose out under the government's pension reforms when the new single tier pension replaces the second state pension, Trade Union Congress (TUC) has said.

DB closures considered to deal with the end of contracting-out

Thursday, August 15, 2013

The ending of contracting-out will have consequences on the pensions industry, and these should not be under-estimated, Aon Hewitt has warned.

"Unhelpful scaremongering" hides real pensions issues in independence debate

Friday, August 9, 2013

The real issues surrounding the Scottish independence debate should be explored rather than the "scaremongering" on pensions that is taking place, a consultant has warned.

BoE ties interest rates to unemployment rate

Thursday, August 8, 2013

The Bank of England (BoE) announced that it will not raise the base rate of interest from its current level of 0.5% at least until the unemployment rate falls to 7%.

FCA hires pensions director

Thursday, August 8, 2013

The Financial Conduct Authority (FCA) has completed its senior structure in supervision by appointing Nick Poyntz-Wright as director of long-term savings and pensions.

EC should avoid unnecessary changes to cross-border pensions rules

Tuesday, July 30, 2013

The European Commission should address the issue of past service benefits and avoid making unnecessary changes to the existing rules on cross-border pensions, Aon Hewitt has said.

TPR welcomes Supreme Court ruling on FSDs

Thursday, July 25, 2013

The Supreme Court found that liabilities under a financial support direction (FSD) issued against an insolvent company would rank as provable debt, and the judgement has been welcomed by The Pension Regulator (TPR).

NEST restrictions to be removed from 2017

Tuesday, July 9, 2013

The annual contribution limit and transfer restrictions on the National Employment Savings Trust (NEST) will be removed from 2017, the Government has announced.

DWP launches call for evidence on DC quality standards

Friday, July 5, 2013

The Government has published a call for evidence on how work-based schemes are managed to help develop a set of minimum legislative standards to protect members.

EIOPA publishes final report

Thursday, July 4, 2013

The European Insurance and Occupational Pensions Authority (EIOPA) has published its final report on the quantitative impact study (QIS) on Institutions for Occupational Retirement Provision (IORPs).

PPF cap to increase for long-serving employees

Wednesday, June 26, 2013

The cap on compensation paid by the Pension Protection Fund (PPF) will be increased for long-serving employees, the Government announced.

Pensions Ombudsman reappointed for third term

Friday, June 14, 2013

The current Pensions Ombudsman and the Pension Protection Fund Ombudsman has bee reappointed for a third term, the Department for Work and Pensions announced.

TPR revises code of practice on pension contribution

Friday, June 7, 2013

The Pensions Regulator (TPR) has revised its codes of practice on pension contributions to help ensure that members of workplace pensions receive the contributions they are due.

Trustees unaware of full impact of latest TPR objectives

Friday, June 7, 2013

Trustees have been urged by an investment adviser to look closely at their investment portfolio following the additional statutory objective placed on The Pensions Regulator (TPR).

Proportionate legislation is the next big issue for EC

Thursday, June 6, 2013

The worst aspects of Solvency II have been avoided, but proportionate legislation for pensions is the next big issue for the European Commission (EC), Aon Hewitt has said.

EC postpones solvency-rules for IORP directive

Thursday, May 23, 2013

The European Commission has postponed its plans to include solvency requirements in an updated pensions directive, which will be presented this autumn.

TPR sets out priorities in three-year corporate plan

Tuesday, May 21, 2013

The Pensions Regulator (TPR) has published its plan for the next three years, stating that it will focus on five themes relating to defined benefit (DB) and defined contribution (DC) schemes and auto-enrolment.

DWP announces plans to tackle pension charges

Monday, May 13, 2013

The Government has announced plans to tackle high and inappropriate pension charges.

Trustees can face difficulties when recovering pension overpayments

Wednesday, May 8, 2013

Pension scheme trustees can face difficulties when trying to recover past pensions overpayments from members, a lawyer has said.

Queen's Speech confirms simpler state pension

Wednesday, May 8, 2013

The introduction of a single-tier state pension in the Pensions Bill will be one of the Government's main objectives, the Queen confirmed in her speech today.

TPR releases 2013 annual funding statement

Wednesday, May 8, 2013

The Pension Regulator (TPR) has published its 2013 annual funding statement to help pension scheme trustees and sponsoring employers to agree valuations and deficit recovery plans.

Kodak settles $2.8bn claim

Tuesday, April 30, 2013

Eastman Kodak has agreed to transfer part of its business to the UK Kodak Pension Plan (KPP) to settle $2.8bn (£1.8bn) of claims made by the scheme.

Possible Scottish independence raises pensions questions

Friday, April 26, 2013

The Scottish and UK Governments have been called to engage with the pensions industry to minimise the financial impact that Scottish Independence could have on private sector schemes.

DWP proposals would introduce new pension scheme costs, says NAPF

Tuesday, April 23, 2013

The National Association of Pension Funds (NAPF) has warned that the Government's plans to automatically transfer pension pots when a worker moves jobs would introduce new costs for pension schemes and employers.

NAPF backs greater transparency in non-financial reporting

Wednesday, April 17, 2013

The European Commission's proposal to enhance business transparency on social and environmental matters has been welcomed by the National Association of Pension Funds (NAPF).

EIOPA's preliminary results on IORP impact study prompts concerns

Wednesday, April 10, 2013

The European Insurance and Occupational Pensions Authority (EIOPA) has published a preliminary report on the impact of the proposed European Pensions Directive based on Solvency II-type rules, but emphasised that "analysis and further consideration" are needed for the final report.

RBS sued by pension funds over 2008 rights issue

Tuesday, April 2, 2013

Pension funds have launched a claim against The Royal Bank of Scotland over a rights issue in 2008 when the bank sold shares at £2 per share.

TPR's proposed code risks being counterproductive, says NAPF

Thursday, March 28, 2013

The National Association of Pension Funds (NAPF) warned that The Pensions Regulator's (TPR) proposed code of practice for defined contribution (DC) schemes risks being counterproductive.

TPR chief executive steps down

Wednesday, March 27, 2013

The chief executive of The Pensions Regulator (TPR) will be leaving his current position at the end of June to start a new role as group chief executive of the Universities Superannuation Scheme (USS).

EU launches Green Paper on long-term financing

Tuesday, March 26, 2013

The European Commission has launched a three-month public consultation on the long-term financing of the European economy.

Industry reactions to Budget 2013

Wednesday, March 20, 2013

Here are a variety of views regarding the Budget 2013, which was announced by Chancellor George Osborne.

Single-tier pension brought forward

Tuesday, March 19, 2013

The UK's new single-tier state pension will be introduced in 2016 instead of 2017, the Government has announced.

The Pensions Regulator selects new DC executive director

Wednesday, March 13, 2013

The Pensions Regulator (TPR) has appointed a new executive director for defined contribution (DC), governance and administration.

Smoothing funding levels is a "backwards step" says investment adviser

Monday, March 11, 2013

Smoothing pension fund asset and liability values is not the answer to solving the pensions problem in the UK, says Cardano, an investment adviser and fiduciary manager.

ABP settles with Merck in securities class action

Thursday, February 14, 2013

Dutch pension fund Stichting Pensioenfonds ABP (ABP) has reached a $215m class settlement with Merck regarding a five-year-old securities class action.

Holistic balance sheet has "major shortcomings", says PensionsEurope

Monday, February 11, 2013

PensionsEurope has warned that the holistic balance sheet approach is not a workable tool for Institutions for Occupational Retirement Provision (IORP) supervision, and said that alternatives should be considered.

Dutch pension fund ABP settles with Deutsche Bank

Thursday, February 7, 2013

The biggest Dutch pension fund, Stichting Pensioenfonds ABP, has settled claims against Deutsche Bank AG regarding residential mortgage-backed securities (RMBS).

UK pension funds expected to increase claims through class actions

Monday, February 4, 2013

A leading class action specialist predicts that, with an increase in the amount of pension funds claiming back lost investments, settlements in securities class actions outside the US could rise to $8.3bn per year by 2020.

PPF boss defends its cause

Monday, January 21, 2013

Pension Protection Fund (PPF) chief executive Alan Rubenstein has defended the fund's decision to take a stake in Jessops as part of a bid to save the company in 2009.

Dutch pension scheme ABP settles with JPMorgan

Tuesday, December 11, 2012

Dutch pension fund Stichting Pensioenfonds ABP has reached agreement with JPMorgan Chase & Co. (JPMC) to settle claims regarding residential mortgage-backed securities.

Do we take the Stewardship Code the serious?

Friday, December 7, 2012

Pension funds are increasingly taking up their stewardship responsibilities, a new study from the National Association of Pension Funds (NAPF) indicates, but how about investment consultants?

New code of conduct to clarify pension charges

Wednesday, November 28, 2012

A new joint industry code of conduct has been published by a group of pensions experts to provide a consistent disclosure of charges and investment costs for the first time in light of auto-enrolment.

Master trust conflicts of interest not unmanageable for independent trustees

Tuesday, November 20, 2012

Independent trustees work for members' best interest despite master trust conflicts of interest, says independent trustee company Pitman Trustees Limited (PTL).

DWP looks into removing NEST restrictions

Tuesday, November 6, 2012

The Department for Work and Pensions (DWP) has issued a call for evidence on the impact of two statutory constraints on the National Employment Savings Trust (NEST).

QE and Solvency II "significant burden" on DB schemes

Wednesday, October 17, 2012

Legal practice Squire Sanders published its white paper on UK pension reform at the National Association of Pension Funds' (NAPF) annual meeting in Liverpool, examining the key issues affecting the affordability of pension plans.

EIOPA launches quantitative impact study for occupational pensions

Wednesday, October 17, 2012

The European Insurance and Occupational Pensions Authority (EIOPA) launched the first Quantitative Impact Study (QIS) on Institutions for Occupational Retirement Provision (IORPs).

Pension funds in urgent need of discount rate relief

Wednesday, October 17, 2012

Pension funds need more leeway if they are to survive the damaging effects of quantitative easing (QE) and free up billions of pounds for businesses to invest, the National Association of Pension Funds (NAPF) said today.

TPR publishes DB flexibility and impact analysis

Wednesday, October 10, 2012

The Pensions Regulator (TPR) has published evidence of how some of the flexibilities in the defined benefit (DB) funding regime have been used by pension schemes and sponsoring employers and provided an impact analysis of the contributions required to keep schemes on track of their recovery plans.

ONS consultation of RPI could have "far reaching consequences"

Tuesday, October 9, 2012

The Office for National Statistics (ONS) has launched a public consultation on changes to the calculation of the retail prices index (RPI) that would make it more in line with the consumer prices index (CPI).

Auto-enrolment is 'game changer' for pensions industry

Friday, October 5, 2012

The biggest change in pensions for over a hundred years – automatic enrolment – started this week with the largest employers in the UK, who now have a new legal duty to automatically enrol workers into a qualifying workplace pension scheme and make contributions towards it.

Steve Webb: "Clegg's proposals are possible by Easter"

Wednesday, September 26, 2012

Plans for the much discussed 'pensions for mortgages' scheme could be in place by Easter, according to pensions minister Steve Webb.

KPMG warns of 'panic-buying' as AE date approaches

Tuesday, September 18, 2012

Two weeks to go until it becomes mandatory to enrol staff into company pension schemes, reminds KPMG, and not all businesses are prepared.

Pension schemes sue BP over fraud and negligence

Friday, September 7, 2012

Pension schemes and asset managers from within the UK and Europe are suing BP in the U.S. court of Texas over alleged fraud and negligence before, during and after the Deepwater Horizon oil spill.

Regulator urges trustees to meet data deadline

Thursday, September 6, 2012

In order to help trustees and administrators get their scheme records in order by the end of the year, The Pensions Regulator (TPR) has published a progress checklist for trustees and a list of frequently asked questions about measuring data.

AP7 and five U.S. pension schemes head 'London Whale' lawsuit

Wednesday, August 22, 2012

Swedish fund AP7, along with five US public schemes, has been named lead plaintiff in a U.S. class action lawsuit against JP Morgan Chase over losses allegedly caused by the bank's chief investment office and trader Bruno Iksil, also known as the 'London Whale'.

Pension funds want QE impact reduced

Tuesday, August 21, 2012

The results of a poll published byfiduciary manager SEI reveal that UK pension schemes do not think the Pensions Regulator (TPR) has gone far enough in its efforts to reduce the impact of quantitative easing (QE) for pension schemes.

TUC asks Webb to ban consultancy charging

Tuesday, July 31, 2012

The Trades Union Congress (TUC) called on the government yesterday to ban employers from passing on the costs of taking advice from consultants onto staff pension pots.

Steve Webb declares war on pension charges

Monday, July 23, 2012

Writing in the Daily Telegraph, the Pensions Minister Steve Webb announced this week that he will not hesitate to take action against the "sky-high charges" which are "tearing the heart out of people's pensions".

New DWP plans bring down costs for pension providers

Wednesday, July 18, 2012

The Department for Work and Pensions (DWP) has announced it will implement a new system where workers can take their small pension pots with them if they change jobs.

Regulator releases details on GP Noble pensions fraud case

Friday, July 13, 2012

The Pensions Regulator (TPR) has released details of its investigation into the trustees of GP Noble and said it would take "swift action to disrupt fraud" in the future.

UK needs better DC regulation, NAO report finds

Thursday, July 12, 2012

The National Audit Office (NAO) published its report this week on the regulation of defined contribution (DC) pensions and concluded that there is "insufficient accountability" to ensure that the regulatory system delivers value for money.

Dutch transport scheme sues Goldman Sachs Asset Management

Monday, July 9, 2012

Pensioenfonds Vervoer, the Dutch transport industry's pension fund is preparing to sue Goldman Sachs' Asset Management for €250m claiming it failed to properly manage its portfolio during the height of the crisis.

More QE "short-changes final salary pensions"

Friday, July 6, 2012

The Bank of England's (BoE) monetary policy committee today voted to increase the size of its asset purchase programme, also known as quantitative easing (QE), by £50bn to a total of £375bn, a move which the NAPF says "short-changes businesses running final salary pensions".

Dutch pension schemes can breathe again

Friday, July 6, 2012

Pension schemes in the Netherlands were relieved after the country's Minister for Work and Pensions, Henk Kamp, announced he is to deal with the historically low discount rates currently used by schemes to calculate their future liabilities, in a move designed to increase the fund's coverage ratios.

Regulator sets out rules to tackle non-compliance

Friday, June 22, 2012

The Pensions Regulator (TPR) has set out its strategy for tackling non-compliance with the changes to pensions law, revealing they will use fines and other measures to make sure all UK companies comply with the new rules on auto-enrolment.

Webb: EU plan is "catastrophic"

Friday, June 22, 2012

Pensions minister Steve Webb has vowed that he will not give in to "catastrophic" EU plans which would impose funding rules on British occupational pension schemes.

TPR urges pensions sector to participate in IORP consultation

Friday, June 22, 2012

The Pensions Regulator (TPR) encourages the pensions sector in the UK to respond to the consultation on the impact assessment of changes to the IORP directive which was launched last Friday by the European Insurance and Occupational Pensions Authority (EIOPA).

Pensions workgroup launches public consultation on new Code of Conduct on DC charges

Wednesday, May 16, 2012

A pensions workgroup set up by the National Association of Pension Funds (NAPF) today launched a public consultation seeking views on the parameters of a new defined contribution (DC) Code of Conduct on charges.

Queen announces pension reforms from 2013

Wednesday, May 9, 2012

A new flat-rate state pension and a system to automatically increase the retirement age have been announced in the Queen's speech.

CalSTRS sues Wal-Mart executives over bribery allegations

Friday, May 4, 2012

The U.S.'s second largest public pension fund has sued current and former executives and board members at Wal-Mart Stores for alleged bribery in the company's Mexico branch.

Swiss employers demand later retirement and lower conversion rates to fix pensions

Thursday, April 26, 2012

The Swiss Employers' Federation has re-opened the debate about the country's common occupational pension conversion rate, saying it must be lowered further.

Former pension scheme execs sued by US regulator

Wednesday, April 25, 2012

US regulators have sued a former chief executive and a former director of the California Public Employees' Retirement System (CalPERS), accusing them of defrauding an investment firm for the sum of $20m.

Dutch regulator told off by court over forced gold sale

Friday, March 16, 2012

The Dutch Central Bank (DNB) was wrong to force the SPVG pension scheme (Pensioenfonds van de Vereenigde Glasfabrieken) to sell off its gold and has to compensate the scheme for its loss, the court decided today.

Industry responds to Work and Pensions Select Committee report

Friday, March 16, 2012

Covering a wide range of topics the 'Automatic enrolment in workplace pensions and the National Employment Savings Trust' report that was issued by the Work and Pensions Select Committee has stirred up the pensions industry with some people opposing the recommendations and others rooting for direct implementation. Pension Funds Insider gives you a brief overview of some key opinions.

Lift NEST restrictions, says Work and Pensions Select Committee

Friday, March 16, 2012

In a report published on Thursday the Work and Pensions Select Committee called upon government to scrap two key restrictions that are in place for the National Employment Savings Trust (NEST), stressing it was 'a matter of urgency'.

Pension funds can expect more QE if government doesn't step up its game

Monday, March 12, 2012

At last week's Investment conference of the National Association of Pension Funds (NAPF) in Edinburgh, the Shadow Chief Secretary to the Treasury, Rachel Reeves said the current Government relies too heavily on the Bank of England's quantitative easing (QE) programme, using it as a smokescreen for its poor fiscal support.

NAPF survey - one in three want opt out of auto-enrolment pension funds

Thursday, March 8, 2012

An opinion poll commissioned by the National Association of Pension Funds (NAPF) has indicated that 33% of the public in the UK plan to opt-out of a pension plan if they are automatically enrolled into it over the next few years.

Parliament defined contribution inquiry gets industry talking

Friday, March 2, 2012

On the week that the Commons Select Committee for Work and Pensions announced an inquiry into the governance of defined contribution (DC) schemes, Pension Funds Insider brings you a selection of opinion across the industry on the key issues that have been raised.

MPs ignore pleas to return UK pension increases to RPI rate

Friday, March 2, 2012

Only 33 MPs have voted to call on the UK Government to re-introduce the Retail Price Index (RPI) as the inflation measure used to calculate pension payment increases for occupational pension schemes.

Major pension funds urge SEC to protect investors

Thursday, February 16, 2012

The California Public Employees' Retirement System (CalPERS), together with ten other large pension funds from the US, Europe and Australia, have sent a letter of support to the chairman of the Securities and Exchange Commision (SEC), Mary Schapiro. The funds urge SEC to continue to push for market reform in the US in order to protect investors and maintain investor confidence.

Solvency II nightmare still looms but worst-case scenario averted

Thursday, February 16, 2012

Key advice from Europe's supervisory agency for pensions has relieved pension funds of the need to provide an expensive capital buffer under new 'Solvency II' regulations but left open the possibility of funds still needing to inject capital on a massive scale.

EU might recommend working until 72 – reports

Tuesday, February 14, 2012

A report in Germany's mass circulating Bild newspaper suggests that the EU will this week tell European governments to further increase state retirement ages

Trustee ban for trio who 'profited' from Hugh Mackay Retirement Benefits scheme

Friday, February 10, 2012

The Pensions Regulator has confirmed that it has barred three people from acting as pension fund trustees after an investigation determined they had 'inappropriately profited from their position as trustees' and were not 'fit and proper persons' for the role.

Dutch pension fund ABP sues third asset manager over mortgage-backed securities

Wednesday, February 1, 2012

ABP, the third biggest pension scheme in the world, filed a lawsuit at the New York state Supreme Court last Friday against asset managers Goldman Sachs over 'misleading' investments.

'Printing mistake' blamed by Siemens pension fund for not paying benefit increases

Friday, January 27, 2012

Siemens is facing a €100 million legal claim in Austria from 120 angry former managers over cuts to their pension payments

Ending inflation guarantees – saving DB schemes from extinction?

Friday, January 20, 2012

In speaking out in favour of ending mandatory inflation proofing, pensions minister Steve Webb recently aired an idea that has been touted for years as a way to revive the ever dwindling fortunes of defined benefit schemes

Pensions Regulator reaches out to DB schemes as financial crisis deepens

Thursday, January 19, 2012

The Pensions Regulator (TPR) announced new plans to help UK trustees deal with the valuation and recovery plan process on 17 January

Can UK Pension funds escape the Solvency II trap?

Friday, January 6, 2012

Pension experts have identified a number of ways in which UK pension funds can escape the potentially calamitous consequences of the European Union's Solvency II directive applying to pension funds

ABP looks to sue Credit Suisse

Friday, January 6, 2012

Dutch pension scheme ABP has taken up more legal proceedings against an investment manager, this time filing a suit in the New York State Supreme Court against Credit Suisse over alleged misleading practices concerning residential mortgage backed securities (RMBS), claiming it led to substantial losses

Ombudsman steps in to investigate Heineken 'promise' to Scottish & Newcastle pensioners

Thursday, December 22, 2011

A pressure group for disgruntled Scottish & Newcastle (S&N) pension scheme members has confirmed that the Pensions Ombudsman is looking into its complaint against Heineken.

PPF chief executive reflects on changing times

Monday, December 19, 2011

Pension Funds Insider caught up with Pension Protection Fund (PPF) chief executive Alan Rubenstein to reflect on two years in the top job at the fund of last resort which have seen significant changes, especially inlevy charging arrangements

The Pensions Regulator's principles - enough to unlock DC's potential?

Friday, December 16, 2011

How can the UK's Pensions Regulator surmount the structural obstacles found in Defined Contribution (DC) schemes and put its words on good governance into action?

Henderson claims 'no legal liability' as it is sued by UK pension schemes

Thursday, December 15, 2011

Henderson Group is being sued by a group of 23 UK pension schemes and other institutional investors after the collapse of negotiations over compensation for losses incurred through the purchase of the construction company John Laing

ABP sues JPMorgan over residential mortgage-backed securities

Friday, December 9, 2011

ABP, one of the largest pension schemes in the world, yesterday filed a suit at the New York state Supreme Court against JPMorgan Chase over residential mortgage-backed securities it is said to have purchased

Auto-enrolment timetable changes for small businesses

Friday, December 9, 2011

The UK Government has announced that small businesses will be given additional time to prepare for the implementation of auto-enrolment.

Belgian pension fund sues asset manager

Monday, November 28, 2011

The Bekaert Group has filed a suit against asset management firm Petercam for alleged incompetent management of the firm's pension fund fixed income investments

Dutch pension funds freed up to improve governance

Wednesday, November 16, 2011

Pension funds in the Netherlands will soon benefit from less red tape and be able to concentrate on their core business of providing retirement benefits, according to the Dutch Government.

UK pensions: a European perspective

Wednesday, November 9, 2011

The UK pension landscape is set for a major overhaul next year with the arrival of auto-enrolment and the introduction of NEST, its new national pension scheme. But what does mainland Europe make of it all? Pension Funds Insider recently asked some non-UK pension professionals their views on reform in the UK and where they feel it could improve provision.

Unions mull government pension offer amid split rumours

Tuesday, November 8, 2011

Unions insist they will press on with plans to strike in protest against public sector pension reform, despite having welcomed newly-announced government concessions on the matter.

Darling warns against postponement of auto-enrolment

Wednesday, November 2, 2011

Speaking to Pension Funds Insider at the annual NAPF conference in Manchester, former Chancellor of the Exchequer Alistair Darling has warned that delaying auto-enrolment could mean that it "would not happen at all".

Regulator closes Polestar pension scheme

Wednesday, November 2, 2011

The Pensions Regulator issued a statement yesterday (01.11.2011) saying that the Polestar pension scheme is to be wound up.

Dutch employers 'too paternal' towards scheme members

Wednesday, November 2, 2011

A new study by accountancy firm PricewaterhouseCoopers (PwC), released yesterday, shows that the majority of Dutch employers welcome pensionreform but feel they will not necessarily apply the needed changes in their own company due to feelings of 'paternalism' towards their employees.

NAPF chair slams QE "torture"

Wednesday, October 26, 2011

In his final speech as chairman of the National Association of Pension Funds (NAPF), Ian Tomlinson yesterday told the organisation's annual conference in Manchester that around 1000 UK pension funds were at severe risk of a double hit from "the torture of quantitative easing".

NEST spreads despite secretive government auto-enrolment threat

Wednesday, October 26, 2011

The government-sponsored National Employment Savings Trust (NEST) has confirmed that close to 100 employers have committed to use its pension scheme one year ahead of the introduction of auto-enrolment into workplace pensions.

Dutch finally agree on pension reform deal

Wednesday, October 19, 2011

After months of negotiation, the Dutch Government has managed to reach a final agreement on how future pension provision will be shaped in the Netherlands

'Shock tactics' needed on auto-enrolment says ACA chairman

Wednesday, October 19, 2011

The government should try frightening employees and employers into embracing auto-enrolment reforms, the chairman of the Association of Consulting Actuaries (ACA) has told Pension Funds Insider

Private pension 'nationalisation threat' in Peru

Wednesday, October 19, 2011

An alleged promise to nationalise close to $27bn worth of pension fund assets has made the occupational pension system a major campaign point in Peru's presidential election

University SAT funds face loss of DB

Wednesday, October 19, 2011

Members of University Self Administered Trusts (SATs) in the UK will soon no longer be offered defined benefit (DB) arrangements, according to a Higher Education (HE) pension scheme manager

Irish pensions drained away to prop up banks

Wednesday, October 19, 2011

Ireland remains mired in a banking crisis, with its Government forced to raid the coffers at the National Pensions Reserve Fund (NPRF) to prop up its money lenders. What does that mean for the future of the Irish state pension?

Union dismisses shadow minister's rural auto-enrolment plea

Wednesday, October 19, 2011

The shadow environment minister's concerns that changes to auto-enrolment legislation will fail to improve a 'shocking' low level of pensions saving in agriculture have been challenged by the National Farmers' Union in a pair of exclusive Pension Funds Insider interviews

Dutch union votes against Pensions Agreement

Wednesday, October 19, 2011

Members of one of the Netherlands' largest unions, FNV Bondgenoten, have voted against the new Dutch Pensions agreement in a referendum set up to decide the union's position

WRIC Commission: "Urgent need to improve UK pension system"

Wednesday, October 19, 2011

Private sector workers must get a better deal from their pensions if they are to save enough for retirement, an independent investigation by the Workplace Retirement Income Commission (WRIC) warned today

Half of Royal Mail's pension bailout could be blocked by European Commission

Wednesday, October 19, 2011

The UK Government's plan to wipe Royal Mail's pension deficit clean by taking on its £8bn pension deficit could be in jeopardy, following a challenge from the European Commission. Pension Funds Insider understands that the commission is threatening to block half the bailout if it deems the move to be anti-competitive

PGGM and CalPERS on PRI Advisory Council

Wednesday, October 19, 2011

The UN PRI initiative, the framework which seeks to draw institutional investors into investing in a sustainable way, has presented the results of its advisory council elections which took place in July

Signs of pension renaissance amongst small German firms

Tuesday, October 18, 2011

Occupational pension provision is on the brink of taking off amongst small German companies, if a recent report in the influential business daily newspaper Handelsblatt is to be believed.

Rebellious Swiss funds continue reform battle

Tuesday, October 18, 2011

The Swiss Association of Pension Funds (ASIP) has made a renewed call for its government to abandon its proposed second pillar reforms by claiming that the Swiss public have a large level of trust in their pension funds and do not want the extra costs the reforms would bring.

Growing resentment against Dutch pension reforms

Tuesday, October 18, 2011

An increasing amount of union members in the Netherlands are voting against the pension reforms that were agreedin principle by the Dutch government and its social partners in Amsterdam last month.

New Dutch Pensions Act finally in place

Tuesday, October 18, 2011

The Dutch Government has managed to reach an agreement on the new Pensions Act with its social partners.

Pensions loophole - time to wake up?

Tuesday, October 18, 2011

The recent takeover of Silentnight by private equity firm H.I.G in the UK, has led to concerns from the Pensions Regulator and Pension Protection Fund that firms may have found a way to buy and restructure profitable companies without having to take on their pension liabilities. Pension Funds Insider looks at the implications of 'the Silentnight case'

NEST spreads despite secretive government auto-enrolment threat

Friday, October 14, 2011

Is new IAS19 another 'DB death knell'?

Thursday, October 13, 2011

The International Accounting Standard Board's (IASB) newly-updated IAS19 accounting standards look likely to bring the UK's defined benefit pension schemes closer to extinction, drag some healthy pension schemes into deficit and hit company profits by a couple of percentage points, Pension Funds Insider has been told by various sources.

IBM Germany ordered to pay €90 million pension insurance bill

Thursday, October 13, 2011

Computer multinational IBM's German subsidiary has been ordered by a Stuttgart tribunal to pay a disputed €90m fee to the company's Pension Insurance Association (Pensions-Sicherungs-Verein) safety net.

Pension industry supports public sector reforms but questions debate

Thursday, October 13, 2011

The pensions industry has come out in overwhelming support of the government's plans to change public sector pension provision and reduce the funding burden on taxpayers in line with Lord Hutton's recent report. As the debate between government and unions turns increasingly acrimonious ahead of a planned public sector strike on 30 June, Pension Funds Insider asks industry figures how they see the big pensions debate.

Young Austrians want more company pensions

Thursday, October 13, 2011

At the same time as the UK government is planning to 'nudge' young workers into pensions saving via auto-enrolment reforms, Austrian twenty-somethings are hoping that their government can encourage more companies to offer an occupational pension, according to a new survey released last week. The head of the association that commissioned it has also told Pension Funds Insider that the country can learn from neighbouring Switzerland in improving occupational pension provision

Is new IAS19 another 'DB death knell'?

Thursday, October 13, 2011

Pensions funds step up action against News Corp

Thursday, October 13, 2011

Two weeks ago a group of pension schemes, with a stake in News Corporation, filed an amended complaint against the company tied to the media giant's role in the phone hacking scandal. Pension Funds Insider explores the case and its consequences

Pension debate fierce in the Netherlands

Thursday, October 13, 2011

The new Pension Act in the Netherlands, which was agreed upon by the majority of the social partners two weeks ago, has come under fierce criticism from the opposition parties and one of the countries biggest unions, FNV Bondgenoten. Pension Funds Insider gives you the latest update on the negotiations.

DWP publishes responses to CPI consultation

Wednesday, October 12, 2011

The Department for Work and Pensions (DWP) has published responses from the UKpensionsindustry to the consultation on the impact of using the CPI-index as the measure of inflationfor private sector occupational pension schemes payments

Solvency II 'threat' to buy-ins contested

Wednesday, October 12, 2011

KPMG has warned defined benefit (DB) pension schemes to complete insurance backed buy-ins before the European Union introduces its Solvency II insurance industry legislation in 2014, but another market expert has told Pension Funds Insider there is little need to panic

Dutch politicians demand payback information

Tuesday, October 11, 2011

A parliamentary motion to obtain information on which pension schemes have paid back money to employers in the Nineties was handed in last week to Dutch social affairs minister Henk Kamp

Delivering change

Tuesday, October 11, 2011

Large companies that are not already preparing for auto-enrolment in the UK are "probably too late and will be bounced into rush decisions" claims the technical consultant to the Pensions Management Institute (PMI) who added that poor media coverage and insufficient understanding is contributing to inadequate preparedness

Dutch pension reform negotiations still tense

Tuesday, October 11, 2011

The Dutch trade union federation (FNV) announced on Tuesday, 19 April, that it would start afresh with negotiations on pension reforms following a two week breather in order to deal with internal disagreements.

Former BA trustee says CPI switch may still not happen

Tuesday, October 11, 2011

The most recent of three trustees to resign from a British Airways pension scheme board has told Pension Funds Insider that the reduced board might be incapable of carrying through the sponsors' hope of switching pension increases to the Consumer Price Index of inflation (CPI)

Austrian minister dashes pension funds' reform hopes

Monday, October 10, 2011

The Austrian minister in charge of the country's pension fund reforms has told Pension Funds Insider that the suggestionfrom the head of the Austrian Association of Pension Funds (FVPK) for occupational and personal pensions to be considered in an overarching programme of pension reform are likely to be ignored

Schemes plead with SEC to restore class action

Monday, October 10, 2011

Earlier this year, seventy of the world's largest pension schemes and institutional investors sent a letter to the US Securities and Exchange Commission (SEC). In it, they asked SEC to put forward a case to Congress calling for a return to the days of investors being able to pursue non-US corporations for fraudulent activity in American courts

Locking away CPI: Inflated expectations?

Monday, October 10, 2011

Are UK schemes rushing too quickly into inflation hedging solutions?

DNB tells funds to 'reposition' themselves

Friday, October 7, 2011

The Dutch Central Bank (DNB) has made a fresh call for pension funds to 'reposition' themselves in order to alleviate financial pressures

Beating Solvency II

Friday, October 7, 2011

The chairman of the pan-European federation of pension funds has called on UK schemes to get in front of continental insurance groups and grab the European Commission's attention if they don't want Solvency II accounting regulations applying to pensions

Union 'threatened' with High Court action by USS

Friday, October 7, 2011

The University and College Union (UCU) has sent a letter to their members asking them to stand up in protest after the union was notified by the Universities Superannuation Scheme's (USS) Board telling them to attend meetings or face High Court action.

ECJ could hand DB funds £100 million tax gift

Wednesday, October 5, 2011

They have been an annoyance to politicians and insurers of late, but a European court could now potentially hand some defined benefit (DB) pension schemes a £100m per year windfall

World Gold Council concerned over DNB decision

Wednesday, October 5, 2011

The World Gold Council (WGC) is said to be concerned about the decision by the Dutch Central Bank (DNB) to force the SPVG pension scheme to sell off its gold

LGPS contribution debate casts shadow over Hutton

Wednesday, October 5, 2011

Amidst a warm welcome from the pensions community to Lord Hutton's report on the future of public sector pensions, concern is being raised that previously planned contribution rises to the Local Government Pension Scheme (LGPS) threaten to cancel out any gains intended for the retirement plan

Swiss reform consultation draws heavy response

Wednesday, October 5, 2011

As many as 500 responses have been sent to the Swiss government's consultation on controversial second pillar reform so far (as of 7 March 2011), Pension Funds Insider can reveal

ECJ changes the rules on annuities

Wednesday, October 5, 2011

Last week (1 March 2011) the ECJ ruled that, from the end of next year on, insurance companies are not allowed to charge men and women different rates for products. The decision could have far-reaching implications for the cost of defined contribution pension schemes in the UK. Pension Funds Insider talks with some experts to see what lies ahead

Unclear road for UK local government pension scheme changes

Wednesday, October 5, 2011

Rarely has the financing and structure of a pension scheme been debated so widely in public as with the Local Government Pension Scheme (LGPS) in recent weeks. Treasury proposals announced in October 2010 to increase contributions by £900 million have provoked a bitter response, even before Lord Hutton announced another set of changes

German investment funds push for second pillar reform

Wednesday, October 5, 2011

The German Federal Association for Investment and Asset Management (BVI) recently issued a plea for investment funds to play a greater role in occupational pension provision after an influential committee of MPs indicated a desire to encourage more competition. But the country is split on the plans

Pension funds restricted in efforts to recoup money by US legal changes

Wednesday, October 5, 2011

The US saw a long list of class actions filed by angry foreign investors appearing in its courts in 2008, as the financial crisis took hold. Now, three years later, Pension Funds Insider asks how European pension schemes can still pursue such claims, after restrictionshave beenplaced on pursuing non-US firms on American soil

Registering interest

Tuesday, October 4, 2011

The Netherlands might be best known for its clogs, windmills and perennial World Cup final losing football team, but now there could be a new claim to fame due to the country's introduction of a pension register. What can it bring to the Netherlands and what could it mean for the rest of Europe?

Lord McFall's mission to get the UK saving

Monday, October 3, 2011

Lord John McFall, former MP and chair of the Work Retirement Income Commission, spoke to Pension Funds Insider(on 23 February 2011)about hiswide-ranging investigation into the UK's retirement savings crisis

Dutch scheme forced to sell gold by Regulator

Monday, October 3, 2011

Rob Daamen, chairman of SPVG, the Dutch pension scheme that has been forced to sell most of its 13 per cent stake in gold by the Dutch central bank (DNB), has described the order as "weird", and questioned why it took the bank so long to notice the scheme's holding in bullion.

Pension accounting 'transparent and objective', says Aon Hewitt

Monday, October 3, 2011

An associate at pension advisor Aon Hewitt has said he does not agree with the findings of the Accounting for Pensions report which was commissioned by the UK's National Association of Pension Funds (NAPF) and released on 7 September.

Accounting for pensions must change, says report

Monday, October 3, 2011

The accounting standards currently used to calculate companies' pension scheme assets and liabilities are undermining pension provision in the UK, according to a report published today by Leeds University Business School

CalSTRS broke within 30 years, finds audit

Wednesday, September 28, 2011

The California State Teachers' Retirement System (CalSTRS) could see its assets disappearby 2041if laws governing the contribution rates for members and their employers do not change, says the California state auditor

ABP's case against Countrywide gets thrown out

Monday, September 26, 2011

A judge at the Los Angeles federal court recently ruled that the Dutch fund ABP has waited too long with filing fraud claims against mortgage lender Countrywide

Pension funds say News Corp board did not fulfil fiduciary duty

Thursday, September 22, 2011

Pension schemes and other News Corp. shareholders have filed a second amended complaint in the US, arguing that the phone hacking scandal is merely one of many acts of illegal conduct that the board was fully aware of

PPF announces lowest ever pensions levy

Thursday, September 22, 2011

Alan Rubenstein, chief executive of the Pension Protection Fund (PPF), has announced that the pension protection levy estimate for 2012/13 will be £550 million, its lowest level to date

Dutch pensions reform: Where will it all end up?

Wednesday, September 21, 2011

After the biggest union within the Federation of Dutch Unions (FNV) last week voted against proposed pension reforms, the nation is unsure on the future of their pensions. Pension Funds Insider sets out the dilemmas and the current state of affairs in one of Europe's most sophisticated countries, when it comes to retirement provision