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The PPF publish The Purple Book 2020 The Pension Protection Fund (PPF) has published The Purple Book 2020, which shows increased risk in the universe of defined benefit pension schemes as underfunding grows. Posted in: Pensions - Articles Posted on: Wednesday Dec 2

AMNT welcomes taskforce of Pension Scheme Voting AMNT welcomes establishment of the Taskforce on Pension Scheme Voting Implementation and Simon Howard as its Chair. Posted in: Pensions - Articles Posted on: Wednesday Dec 2

Trouble ahead for pensions after insolvency protections end Aon has said that a ‘perfect storm’ could be awaiting many UK pension schemes once the temporary protections from corporate insolvency are lifted at the end of the year. Posted in: Pensions - Articles Posted on: Wednesday Dec 2

Ahead of FCA deadline insurers must decide on COVID refunds Insurers have just a few days left to decide how they need to consider the guidance and where appropriate apply COVID-19 related refunds or discounts on insurance policies before the FCA’s December 3 deadline expires, says BDO LLP, the accountancy and business advisory firm. Posted in: General Insurance Article Posted on: Wednesday Dec 2

FTSE350 pension deficit rises as second lockdown ends Mercer’s Pensions Risk Survey data shows that the accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies rose from £75bn at the end of October 2020 to £77bn on 30 November. Liability values rose from £871bn at 30 October to £897bn at the end of November. Asset values were £820bn (an increase of £24bn compared to £796bn at the end of October). Posted in: Pensions - Articles Posted on: Tuesday Dec 1

IFoA President on reinventing the actuarial profession President Tan Suee Chieh leads a call to re-invent the profession for a transformed present and dynamic future. Posted in: Articles Posted on: Tuesday Dec 1

PLSA comment on Arcadia entering administration The Pensions and Lifetime Savings Association (PLSA) comments on Arcadia entering administration. Posted in: Pensions - Articles Posted on: Tuesday Dec 1

What homeowners plan to use equity release cash for What people plan to use equity release cash for and what they actually do with the money are not quite in sync, according to SunLife’s new Equity release Report 2020. Posted in: General Insurance Article Posted on: Tuesday Dec 1

Where does abridged advice fit There’s a new kid on the advice block – abridged advice for transfers from policies with safeguarded rights. The intention is to allow the ‘screening out’ of obviously unsuitable transfers at an early stage which is highly laudable but does mean that members may now have to go through a 3-stage process before they can transfer their money. So, where does abridged advice fit and is it a welcome protection or an unnecessary hassle? Posted in: Articles Posted on: Tuesday Dec 1

Report shows employers oppose multiple pension dashboards In the second of a series of reports outlining the findings of the ACA’s 2020 Pension trends survey, the Association of Consulting Actuaries (ACA) has asked employers about the Pension Schemes Bill, which is nearing its final stages ahead of receiving Royal Ascent. Posted in: Pensions - Articles Posted on: Monday Nov 30

Poll reveals scheme administrators views on sustainability XPS’ Audience poll reveals half of scheme representatives believe the fiduciary duty hinders trustees in their ability to address climate change Posted in: Investment - Articles Posted on: Monday Nov 30

Webinar on Solvency II and COVID19 implication for ORSA Patrick Meghen provides an update on changes in Solvency II related requirements to look out for this year end and into next year. Eoin King discusses the latest on ORSA: COVID-19 & other considerations. Eamonn Phelan presents recent Milliman thought leadership on the design, calibration and reporting of effective key risk indicators (KRIs). Posted in: Articles Posted on: Monday Nov 30

New paper on Diversity and Inclusion in pension schemes Aon has released a new paper ‘Practical Diversity and Inclusion for Trustees’ which aims to help improve understanding of Diversity & Inclusion (D&I) considerations among UK pension scheme trustees and members. Posted in: Pensions - Articles Posted on: Monday Nov 30

Dalriada appoint Tiziana Perrella as a professional trustee Dalriada Trustees Limited (Dalriada), one of the largest providers of professional trustee services to pensions schemes in the UK, has today announced the appointment of Tiziana Perrella as a professional trustee. Posted in: Lifestyle Article Posted on: Monday Nov 30

Clearing up pension contribution confusion Research released today by Invesco, Nest Insight and maslansky + partners identifies crucial barriers that are still preventing UK workers from engaging with pension saving. It shows how simple changes to language used to talk to people about the money they save, and the actions they can take, can help overcome these barriers and encourage people to be more active at key points in their retirement saving journey. Posted in: Pensions - Articles Posted on: Monday Nov 30

Call for extension to Trade Credit Insurance Reinsurance As retail empire Arcadia Group faces collapse and heads to the hands of administrators, the invoice insurance business Nimbla estimates1 that around £250m of invoices owed to Arcadia's suppliers will go unpaid. This will have a ripple effect and threaten the existence of hundreds of small businesses and jobs further down the supply chain. Posted in: General Insurance Article Posted on: Monday Nov 30

PIMFA calls for urgent reform of FSCS levy PIMFA, the trade association for the wealth management and financial advice industry, is today calling on the Government and Financial Conduct Authority (FCA) to urgently reform the supervision of financial advice and consumer compensation through the Financial Services Compensation Scheme (FSCS). Posted in: Investment - Articles Posted on: Monday Nov 30

Millions set to see boost to the security of their pensions New research from consultants LCP finds that millions of pension scheme members are set to benefit from greater security in the next five years as increasing numbers of pension schemes are secured with insurance companies. Posted in: Pensions - Articles Posted on: Monday Nov 30

Hymans Robertson advises on Aviva Staff Pension Scheme The Aviva Staff Pension Scheme (the “Scheme”) has completed a £875 million buy-in with Aviva Life & Pensions UK Ltd (“Aviva”) covering the Scheme’s liabilities in respect of c.2,800 members. This is the second buy-in with Aviva following a £1.7bn buy-in in 2019 and a £5bn longevity swap in 2014. Hymans Robertson acted as lead adviser to the Scheme. Posted in: Investment - Articles Posted on: Friday Nov 27

PASA announce Deloitte as expert knowledge provider for data The Pensions Administration Standards Association (PASA), the independent body dedicated to driving up standards in pensions administration today announced the multinational professional services network Deloitte will be their new expert knowledge provider for Data. Posted in: Pensions - Articles Posted on: Friday Nov 27

DB Pension Members will be hardest hit by RPI decisision The Government and the UK Statistics Authority (UKSA) have set out their response to their joint consultation on aligning the Retail Prices Index (RPI) with the Consumer Prices Index plus Housing (CPIH). In it the Government confirmed that the Chancellor will not give his consent for the change before 2030. This passes the decision back to UKSA. Posted in: Pensions - Articles Posted on: Thursday Nov 26

Batten down the hatches as 1 in 3 unprepared for storms The storms of 2020 and lingering damage from two more at the end of 2019 has seen almost £10 million paid out this year to LV= General Insurance (LV= GI) customers who have suffered damage to their homes - almost double the amount claimed in 2019. Posted in: General Insurance Article Posted on: Thursday Nov 26

Pension scheme strategies may not be fit for purpose According to new research by Barnett Waddingham, nearly all pension schemes, 92%, claim to be confident in the next stage of their scheme’s development, however weaknesses in the fundamentals suggests this confidence is misplaced. Posted in: Pensions - Articles Posted on: Thursday Nov 26

Anti Anti Fragility The Coronavirus pandemic has reminded everyone how difficult prediction really is. Black Swans are, by now, somewhat canonical. One of Nassim Nicholas Taleb’s (who popularised the term) other big ideas, anti-fragility, has been less thoroughly embraced. This is a brief exploration of whether anti-fragility is a viable target for a portfolio. Posted in: Articles Posted on: Thursday Nov 26

PSF appoint Margaret Snowdon to Board of Trustees The Pension SuperFund Trustees (“PSF”) announce the appointment of Margaret Snowdon to the Board with effect from 1 December 2020. Posted in: Lifestyle Article Posted on: Thursday Nov 26

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