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.

Legal And Regulatory

Image for Data Cleansing

Data Cleansing

Tuesday, July 5, 2022

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

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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.

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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.”

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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.

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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?

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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.

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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.

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Image for Solvency II reform – Seismic Shift or Gentle Transformation?

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.

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

'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.

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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.

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

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. 

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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...

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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. 

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Reducing carbon emissions in emerging markets

Thursday, December 9, 2021

A case of necessity trumping over the environment? 

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Image for Scams: the beginning of the end?

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!...

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‘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.

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

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. 

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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.

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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.

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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.

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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. 

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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.

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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.

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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.

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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.

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Image for RPI reform – issues and actions for trustees

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.

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A Misguidance Manual

Friday, March 12, 2021

The single biggest problem with communication is the illusion that it has taken place.
- George Bernard Shaw

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Image for There is no such thing as a free SARs

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).

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Image for Working to Combat Scams

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.

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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.

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I have a dream...

Wednesday, December 16, 2020

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

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Image for Reasons to be cheerful

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. '

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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.

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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.

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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.

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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.

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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.

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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……

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#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.

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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

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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....

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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.

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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..

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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.

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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.

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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”. 

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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.

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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.

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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.

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Panic buying pensions

Monday, March 16, 2020

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

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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.

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

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? 

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

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?  

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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.

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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.

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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. 

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Image for Dashboards - the lighthouse in a fog of fake news?

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.

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Time is of the Essence

Tuesday, October 29, 2019

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

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Image for Five tips for trustees when re-tendering for fiduciary services

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.

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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.

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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.

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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.  

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Image for Pension MAPS - prevention is better than cure

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.  

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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.

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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.

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Image for On Trust

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?

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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.

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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.

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Putting the Cart before the Horse

Monday, May 13, 2019

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

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Image for 2020 pathways – Drawdown moves to 3G

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.

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

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.

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If the cap fits

Thursday, April 11, 2019

Ian Neale tackles the complexities of the charge cap.

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Image for What's new at the Pensions Ombudsman

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.

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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.

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Image for How can contingent assets reduce the PPF levy?

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.

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Image for For Whom the Bell Tolls

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.

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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).

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

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.

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Image for Come Together

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.

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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.

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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.

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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). 

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Image for How to solve a problem like GMP equalisation

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.


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What are Regulators for?

Monday, November 5, 2018

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

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Image for Retirement choices: a DC trustee responsibility?

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? 

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Image for The rise of the Robo Advisor: interrupted

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. 

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Image for  Cruising to good data

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.

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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. 

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Image for Reconciling our differences - GMP

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.

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Combating Pension Scams

Tuesday, July 3, 2018

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

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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.

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Emerging trade war?

Thursday, June 7, 2018

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

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The deadline has passed

Tuesday, May 22, 2018

Are trustees compliant?

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Clearer, quicker, tougher

Monday, May 21, 2018

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

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Image for GDPR: are you ready for new data regulations?

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? 

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

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. 

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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.

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

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.


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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.  

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Image for Pension freedoms: transfers from DB to DC schemes

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.

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

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.

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Image for Transparency: four things all fund managers should know in 2018

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.

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Image for The Pensions Dashboard: where are we?

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.

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Image for Dashboard Ready

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?

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Image for Cost Transparency

Cost Transparency

Friday, October 20, 2017

Communication and explanation is vital.

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Image for PASA to mediate on administration service transfers

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.

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Image for Inquiry into pensions freedoms 'critical'

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.

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Image for PLSA launches final DB Taskforce report

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'.

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Image for Government announces new measures to stop pension scammers

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.

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Image for Tata Steel UK reaches agreement on £15bn pension scheme

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.

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Image for Now: Pensions withdraws from auto-enrolment providers list

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.

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Image for PQM announced consultation on future standards for DC pensions

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.

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Image for Equal pension rights for same sex couples in landmark legal case

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.

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Image for FCA publishes final report into asset management sector

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.

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

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.

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Image for Schemes urged to prepare for new data legislation

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.

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Image for PLSA unveils pension priorities

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.

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Image for Setting Standards

Setting Standards

Wednesday, May 10, 2017

Tim Middleton discusses the need to properly regulate professional trustees.

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Image for Pension Protection Fund launches levy consultation

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.

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Image for Qrops tax hits wrong target, says Pension Life

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.

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Image for Kingfisher head joins Legal & General

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).

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Image for Pension freedoms raises £2.6bn in tax receipts

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.

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Image for Trustees must act after landmark legal case

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.

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Image for DWP launches DB Green Paper

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.

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Image for Government consultation on pension scams has closed

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.

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Image for One in five firms missing auto enrolment deadline

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.

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Image for PLSA outlines pension scheme Brexit needs

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.

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Image for Barnett Waddingham awarded PASA accreditation

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.

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Image for One in five vulnerable to online pension scams

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.

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Image for Auto-enrolment reviewed in Government report

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.

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Image for Government launches pension scam consultation

Government launches pension scam consultation

Thursday, December 8, 2016

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

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Image for deVere boss commends overseas pensions tax plans

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.

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Image for Pension cold calling to be criminalised

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.

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Image for FCA announces Lifetime ISA guidance

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).

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Image for PLSA call for improved reporting on workforce

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.

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Image for Master trusts must meet new criteria

Master trusts must meet new criteria

Tuesday, October 25, 2016

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

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Image for Small businesses have 'pensions stage fright', says FSB

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.

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

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.

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Image for Support for retirement quality mark

Support for retirement quality mark

Thursday, August 18, 2016

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

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Image for FTSE 100 companies pay more in dividends than pension contributions

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.

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Image for Government inquiry to investigate pensions

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.

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Image for New DC code of practice in force

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.

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Image for Fidelity sets out pension priorities

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.

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Image for Schemes may still need to prepare for the revised IORP II

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.

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Image for PMI sets out vision for the future

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.

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Image for Qualification to set new benchmark for Trustees

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.

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Image for Chair of PensionsEurope to make recommendations at 2016 conference

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.

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Image for Highest number of workers aged over 50 since records began

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.

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Image for PASA welcomes regulator DC code

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.

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Image for Savers should learn from BHS and Tata Steel pension crises

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.

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Image for The Queen announces a new Pensions Bill

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.

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Image for Trustees must hold professional qualification; research finds

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.

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Image for PASA announces revised standards

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.

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Image for Auto-enrolment is working, says Pensions Regulator

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.

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Image for Capita insights reveals pension manager pressures

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.

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Image for EU pensions regulator ends work on solvency-based funding regime

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.

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Image for Double win for Hymans Robertson

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.

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Image for Cost of public service pension set to rise again

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.

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Image for Pension minister warns of pension 'master trusts'

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.

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Image for Top five myths of auto-enrolment

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.

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Image for L&G announces technology partnership

L&G announces technology partnership

Friday, February 19, 2016

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

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Image for New PMI partnership to take on workplace education

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.

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Image for Toughest test is still to come for auto-enrolment

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.

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Image for Regulator responds to first EU-wide stress test

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).

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Image for Top scammer phrases revealed as pension victim numbers soar

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.

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Image for Meeting liabilities is key challenge for pension schemes

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.

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Image for Green light for second-hand market in annuities

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.

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Image for Tax confusion over pension reforms

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.

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Image for Gold standard for Hymans Robertson

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.

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Image for New report calls for swift action on insufficient pension freedoms

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.

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Image for Pension specialist warns of charity trap

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.

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Image for Better corporate reporting to close gender pay gap, says NAPF

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.

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Image for Pensions Regulator will protect Docklands Light Railway pension scheme members

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.

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Image for Pensions regulator issues new guidance for DB trustees

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.

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Image for Former pension fund director says merging local funds will undermine investment

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.

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Image for Pensions Regulator warns SMEs to act now on auto enrolment

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.

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Image for Pension fraud has tripled since reform

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.

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Image for ShareAction launches policy vision for pensions success

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.

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Image for Reform must be given time to work, says pensions minister

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.

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

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.

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Image for Auto enrolment – there's nowhere left to hide

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

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Image for Pensions Regulator publishes annual funding statement

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.

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Image for NAPF launches new guide to security fraud

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.

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Image for NAPF responds to FCA's DB to DC transfers consultation

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.

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Image for New qualification for pensions 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.

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Image for Pension schemes fear new accounting rules could raise costs

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.

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Image for Chancellor confirms pension changes in Budget 2015

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.

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Image for PASA highlights top demands on administrators

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).

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Image for NAPF disappointed with EIOPA's work on solvency

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).

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Image for Change afoot for New Year

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.

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Image for Half of industry expects DB schemes to miss April deadline

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.

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Image for Savers could be missing out on £90,000

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.

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Image for Altmann urges UK to re-think older workforce

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.

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Image for Plans to increase retirement age

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.

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Image for "No support for pension reform without levy" says IAPF

"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).

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Image for Osbourne announces pension "death tax" to be scrapped

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.

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

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.

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Image for EU names UK's Jonathan Hill as financial services commissioner

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.

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Image for NEST restrictions to be lifted

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.

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Image for FRC fines Mazars £2m for pension advice failings

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.

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Image for Lehman Brothers FSD case reaches settlement

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.

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Image for TPR's DB funding code comes into force

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.

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Image for Independent organisations to give "guaranteed guidance"

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.

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Image for ShareAction calls for more accountability and transparency in pensions

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.

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Image for "Intelligent" approach needed to improve LGPS

"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.

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Image for TPR publishes guides to improve public service pension standards

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.

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Image for Law Commission clarifies fiduciary investment duties

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.

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Image for EIOPA calls for smarter regulation

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.

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Image for Queen's Speech on pensions receives mixed reactions

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.

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Image for Queen's Speech confirms pension reforms

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.

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Image for PTL urges pensions industry to respond to PPF consultation

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.

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Image for TPR sets out priorities in three-year plan

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).

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Image for PwC urges Government to scrap state pension age

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.

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

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.

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Image for TPR issues auto-enrolment non-compliance warning to employers

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.

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Image for LGPS funds receive legal advice about tobacco divestment

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.

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Image for TPR opens investigations into scheme record-keeping

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.

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Image for DWP announces pensions charge cap

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.

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Image for EU publishes revised pensions directive proposals

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.

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Image for Budget 2014: industry reactions

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.

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Image for Budget 2014: Osborne announces "radical" changes to pensions

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.

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Image for DWP appoints TPR chairman

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).

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Image for Budget 2014 can help revive occupational pensions, says NAPF

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.

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Image for UK Government should focus on flexible DB schemes

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.

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Image for TPR urges employers to check when auto-enrolment affects them

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.

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

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.

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Image for DWP maintains protected status of former public schemes

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.

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Image for OFT selects board to oversee DC scheme audit

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.

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Image for Irish actuaries urge Government to introduce mandatory pensions

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.

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Image for Scottish Government still needs to answer key questions on pensions

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.

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

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.

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Image for DWP confirms pensions charge cap delay

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.

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Image for Pensions industry welcomes delay in pensions cap charge

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.

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Image for FRC warns companies over classifying pension liabilities as equities

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.

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

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.

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Image for Auto-enrolment passes two million landmark

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.

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Image for Consumer panel calls for "urgent" reform of annuities market

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.

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Image for PPF confirms 2014/15 levy estimate

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.

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Image for TPR launches public service pension schemes consultation

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.

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Image for Autumn statement 2013: state pension age to increase

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.

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Image for Autumn Statement 2013: industry reactions

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.

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Image for TPR launches consultation on DB regulation

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.

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Image for TPR DC code of practice comes into force

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.

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Image for Uncertainty remains around pensions charge cap

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.

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Image for TPR launches AE compliance visits

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.

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Image for DWP launches consultation on pension charges

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.

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Image for UK Government considers savings through pension fund collaboration

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.

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Image for DWP's small pots project prompts debate

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.

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Image for NAPF chairman calls for single pensions regulator

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.

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Image for EIOPA selects members for stakeholder groups

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.

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

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.

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

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.

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Image for UK Kodak scheme completes acquisition

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.

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

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.

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

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.

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

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.

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Image for "Unhelpful scaremongering" hides real pensions issues in independence debate

"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.

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Image for BoE ties interest rates to unemployment rate

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%.

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Image for FCA hires pensions director

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.

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Image for EC should avoid unnecessary changes to cross-border pensions rules

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.

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Image for TPR welcomes Supreme Court ruling on FSDs

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).

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Image for NEST restrictions to be removed from 2017

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.

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Image for DWP launches call for evidence on DC quality standards

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.

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Image for EIOPA publishes final report

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).

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Image for PPF cap to increase for long-serving employees

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.

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Image for Pensions Ombudsman reappointed for third term

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.

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Image for TPR revises code of practice on pension contribution

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.

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Image for Trustees unaware of full impact of latest TPR objectives

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).

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Image for Proportionate legislation is the next big issue for EC

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.

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Image for EC postpones solvency-rules for IORP directive

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.

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Image for TPR sets out priorities in three-year corporate plan

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.

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Image for DWP announces plans to tackle pension charges

DWP announces plans to tackle pension charges

Monday, May 13, 2013

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

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Image for Trustees can face difficulties when recovering pension overpayments

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.

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Image for Queen's Speech confirms simpler state pension

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.

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Image for TPR releases 2013 annual funding statement

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.

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Image for Kodak settles $2.8bn claim

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.

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Image for Possible Scottish independence raises pensions questions

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.

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Image for DWP proposals would introduce new pension scheme costs, says NAPF

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.

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Image for NAPF backs greater transparency in non-financial reporting

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).

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Image for EIOPA's preliminary results on IORP impact study prompts concerns

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.

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Image for RBS sued by pension funds over 2008 rights issue

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.

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Image for TPR's proposed code risks being counterproductive, says NAPF

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.

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Image for TPR chief executive steps down

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).

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Image for EU launches Green Paper on long-term financing

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.

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Image for Industry reactions to Budget 2013

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.

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Image for Single-tier pension brought forward

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.

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Image for The Pensions Regulator selects new DC executive director

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.

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

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.

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Image for ABP settles with Merck in securities class action

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.

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Image for Holistic balance sheet has "major shortcomings", says PensionsEurope

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.

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Image for Dutch pension fund ABP settles with Deutsche Bank

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).

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Image for UK pension funds expected to increase claims through class actions

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.

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Image for PPF boss defends its cause

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.

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Image for Dutch pension scheme ABP settles with JPMorgan

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.

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Image for Do we take the Stewardship Code the serious?

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?

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Image for New code of conduct to clarify pension charges

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.

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Image for Master trust conflicts of interest not unmanageable for independent trustees

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).

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Image for DWP looks into removing NEST restrictions

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).

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Image for QE and Solvency II "significant burden" on DB schemes

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.

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Image for EIOPA launches quantitative impact study for occupational pensions

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).

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Image for Pension funds in urgent need of discount rate relief

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.

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Image for TPR publishes DB flexibility and impact analysis

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.

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Image for ONS consultation of RPI could have "far reaching consequences"

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).

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Image for Auto-enrolment is 'game changer' for pensions industry

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.

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

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.

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

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.

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Image for Pension schemes sue BP over fraud and negligence

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.

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Image for Regulator urges trustees to meet data deadline

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.

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

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'.

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Image for Pension funds want QE impact reduced

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.

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Image for TUC asks Webb to ban consultancy charging

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.

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Image for Steve Webb declares war on pension charges

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".

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