Pensions - Articles

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PASA launches eAdmin Working Group

The Pensions Administration Standards Association (PASA), the independent body dedicated to driving up standards in pensions administration, today announced the launch of its eAdmin Group. Set to publish their initial findings in early 2019, the group will explore how schemes, trustees, regulators and administration providers can optimise the use of technology to improve overall service.
Posted on Wednesday Sep 19

20 major providers discuss taking pensions dashboard forward

Senior decision makers from over 20 major pension providers and administrators came together today to discuss how the Pensions Dashboard could be made a reality, focusing on giving every UK saver access to the information required to make informed retirement planning decisions.
Posted on Wednesday Sep 19

New paper helps pension trustees steer the right course

Few issues divide the pensions world like the subject of pension transfers from Defined Benefit (DB) to Defined Contribution (DC) schemes. To help DB pension scheme trustees understand both what the law requires of them and what good evolving practice might look like, leading pensions lawyers Eversheds Sutherland and mutual insurer Royal London have joined forces to create a new policy paper.
Posted on Wednesday Sep 19

FCA emphasises pension freedoms should not be a free for all

Jon Greer, Head of Retirement Policy at Quilter comments on the speech from Andrew Bailey on pension freedoms in which he outlines the FCA’s views on the current landscape and action that still need to be taken
Posted on Tuesday Sep 18

TPR launches new approach to protect workplace pensions

An increasing number of workplace pension schemes will come under greater scrutiny from The Pensions Regulator (TPR) from next month as part of a significant shift in its approach to protect savers.
Posted on Tuesday Sep 18

A speech by Andrew Bailey from the FCA on Pensions

A speech given by Andrew Bailey entitled Pensions: A view from the FCA delivered at Gleneagles on 15 September 2018. This is the speech as drafted and may differ from the delivered version.
Posted on Tuesday Sep 18

Lawrence Churchill CBE appointed Chairman of Clara Pensions

Clara-Pensions announces it has appointed Lawrence Churchill CBE as Chairman of its corporate board.
Posted on Monday Sep 17

Comments on the British Airways bulk annuity buy in

Moody's and JLT comment on the completion of Legal & General’s £4.4bn buy-in with the British Airways PLC's pension scheme, Airways Pension Scheme
Posted on Friday Sep 14

TPR acts to address issues in small DB pension schemes

New research from The Pensions Regulator (TPR) shows the majority of defined benefit (DB) savers are in well-run larger schemes which are showing year on year improvements, but small DB schemes are lagging behind.
Posted on Thursday Sep 13

Continued transfer value stability over August

Pension transfer values as measured by the XPS Pensions Group Transfer Value Index fluctuated mildly during August 2018, with a small fall during the month. The index was £233,000 at the end of July and £232,000 at the end of August.
Posted on Thursday Sep 13

L and G complete largest ever bulk annuity buy in with BA

Legal & General announces that it has completed a £4.4 billion buy-in for British Airways PLC’s pension scheme, Airways Pension Scheme (“APS”), covering nearly 22,000 pensioners. This is the largest ever bulk annuity policy arranged with a UK pension scheme and also included the conversion of existing longevity insurance into a bulk annuity.
Posted on Thursday Sep 13

Government unveils rules for a 21st century pension system

In a major and highly anticipated breakthrough, which will be watched around the world, the UK government has today published changes to the regulations that govern how pension trustees consider environmental, social and governance (ESG) factors in their investment decisions. The new regulations also cover how trustees should address pension savers’ ethical concerns and wider interests.
Posted on Wednesday Sep 12

Comment on ONS figures and rights for the gig economy

Kate Smith, Head of Pensions at Aegon comments on John McDonnell’s announcement today that Labour would extend the rights for people working in the gig-economy and ONS employment figures published today:
Posted on Tuesday Sep 11

Comment on older workers in the labour market

Stephen Lowe, group communications director at Just Group, commented on the latest official employment figures released that highlight the strong rise in the number of older workers since 2006 but that success hasn’t been so pronounced recently.
Posted on Tuesday Sep 11

BlackRock comments on the latest PPF 7800 Index figures

Andy Tunningley, Head of UK Strategic Clients at BlackRock, comments on the latest PPF 7800 Index figures:
Posted on Tuesday Sep 11

GBP500bn DB pensions deficit could be halved

According to analysis from Hymans Robertson the current UK DB £500 billion deficit could potentially be halved if schemes look beyond traditional ways of creating value,
Posted on Tuesday Sep 11

Pension Protection Fund issue September 2018 PPF7800 Index

This update provides the latest estimated funding position, on a section 179 (s179)basis, for the defined benefit pension schemes potentially eligible for entry to the Pension Protection Fund (PPF).
Posted on Tuesday Sep 11

Over 65s say pension patience is a virtue

According to new research from Just Group younger pension savers risk making decisions their older selves could regret,
Posted on Monday Sep 10

1 in 5 FTSE350 companies do not disclose deficit

1 in 5 FTSE 350 companies with defined benefit (DB) pension obligations still do not disclose their funding deficit or surplus position, despite calls for greater disclosure to allow investors and other stakeholders to fully appreciate the funding position of DB schemes within their portfolios.
Posted on Monday Sep 10

Worlds largest public pensions in breach on climate change

A handful of public pension funds, mostly based in Europe, are showing true leadership on climate change, demonstrating robust approaches to aligning their investments with the low-carbon transition. However, over 60 per cent of pension funds have little or no strategy on climate change, according to a new global assessment of the sector
Posted on Monday Sep 10

PPF compensation cap unlawful

The case was brought by Mr Hampshire who had been a member of the Turner & Newall pension scheme from 1971 to 1998 when he took early retirement. His scheme went into a PPF assessment period in 2006 when he was still below the scheme’s Normal Retirement Age (NRA).
Posted on Friday Sep 7

Comment on workplace pension figures from the ONS

Commenting on ONS workplace pension contribution figures released today, Paul Waters, Head of Guided Outcomes, Hymans Robertson, says:
Posted on Friday Sep 7

FTSE 350 pension deficit rises for second consecutive month

Mercer’s Pensions Risk Survey data shows a small deterioration in the accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies, with the deficit rising from £32bn to £34bn in August 2018.
Posted on Friday Sep 7

GMP Equalisation and what you need to know

To date GMP equalisation has primarily been carried out for schemes buying out or transferring to the PPF, with ongoing schemes deferring the exercise. 2019 could be the year that all this changes and it will be important for schemes to get ready.
Posted on Friday Sep 7

Social care and what later life might look like

Age UK is holding its For Later Life conference, which will discuss the future of social care. Steve Cameron, Pensions Director at Aegon comments on figures taken from research carried out by Aegon looking at what later life might look like, how it could be funded, as well as views on who should pay for social care.
Posted on Thursday Sep 6