Articles

Search Results Page 1 of 114.

1 2 3 4 5 6 7 8 9 10 11 12 Next Last

HMRC takes steps to fix pension tax overpayments

For years, pension savers have faced frustrating delays and unexpected tax bills when accessing their defined contribution (DC) pensions – often due to HMRC’s use of emergency tax codes. As we enter the 2025/26 tax year, HMRC has announced changes designed to reduce the need for tax reclaims by updating codes more efficiently. While this is a step forward, questions remain about whether the reform goes far enough to truly solve the problem.
Posted on Thursday Apr 17

Why pension schemes should not overlook SDR

The FCA’s Sustainability Disclosure Regulations (SDR) might be voluntary for institutional investors, but the new rules have arrived at a crucial moment. Pension schemes are under increasing pressure to invest in a way that supports the transition to a more sustainable economy, while continuing to maximise members’ financial outcomes. Could understanding potential implications of the regime help them navigate the evolving sustainable investment landscape while meeting their fiduciary duties?
Posted on Wednesday Apr 16

Bigger and better pension schemes through incremental change

While dashboards may encourage individuals to consolidate their pension pots, consolidation of pension schemes and default funds are high on the Government’s agenda. Plans include the consolidation of the Local Government Pension Scheme as well as defined contribution pension schemes and defaults, delivering the majority of pensions for the private sector. The Minister for Pensions made it clear during the PLSA Investment Conference that measures to encourage consolidation will continue to be pursued.
Posted on Tuesday Apr 15

How board level AI governance is changing

Technology and AI governance remains a top concern for corporate directors and executives in 2025 relative to safeguarding data, managing new technologies and ensuring the necessary skills in the boardroom and across the organization. Effective board members understand the importance of technology for their businesses and their role in governing it. According to the National Association of Corporate Directors 2025 Trends and Priorities Survey, three of the 10 Director's Top Trends for 2025 involve technology governance.
Posted on Monday Apr 14

The impact of the US trade war

A dramatic shift in US trade policy has sparked renewed uncertainty for investors. This note explores the scale of the new tariffs, market reaction, and key risks to watch. On Wednesday 2 April Donald Trump announced a wave of new import tariffs covering 185 countries and territories that will take the average tariff on US imports to its highest level in more than a century. While a tariff announcement was well trailed, the scale, breadth and method of determining the tariffs left markets stunned, with large falls in equities, commodities and the US Dollar.
Posted on Friday Apr 11

Uninsurable Future Climate Change and UK Risk

As climate change progresses, insurers face increasing challenges that will alter the insurability landscape, driving innovation and a more holistic view of risk. Describe the connection between climate change and the increasing frequency of extreme weather events that are contributing to rising uninsurability in the UK. Explain the challenges faced by the insurance industry in providing coverage for high-risk areas impacted by climate change. Summarise the socio-economic consequences of uninsurability for individuals, businesses, and the broader UK economy. List potential policy measures and innovative approaches, such as parametric insurance, that can address gaps in traditional insurance coverage caused by climate change.
Posted on Thursday Apr 10

Insurance implications of Martyn’s Law

This article looks at how the Terrorism (Protection of Premises) Bill may influence insurance markets, including demand for various insurance coverages and potential gaps. We also discuss possible changes in the Bill before it is granted Royal Ascent. The Terrorism (Protection of Premises) Bill, also known as the Protect Duty or “Martyn’s Law” aims to help address terrorist threats in the UK by enhancing security and organisational preparedness
Posted on Wednesday Apr 9

Hundreds of billions of pounds may be unlocked from pensions

Hundreds of billions of pounds could be unlocked from pensions for UK growth through policy change. Hymans Robertson launches policy paper outlining cost-neutral plan to deliver Treasury and Employer savings and better pension incomes. Treasury could gain £28.5bn annually. Employers could save £14.2bn a year. Create a £1 trillion national wealth fund over the next decade. Provide workers with over 50% more retirement income.
Posted on Tuesday Apr 8

University pension disclosures plus costs and funding trends

The results of our 14th survey on UK universities' pension liability assumptions for accounting purposes is here. This blog summarises the key insights provided in the full survey. Pension deficits have slightly reduced over the year to 31 July 2024, mainly due to modest asset value growth, though lower discount rates from falling yields offset these gains. Recent yield increases might impact future results.
Posted on Monday Apr 7

Tackling the winds of change with geospatial intelligence

The twelve named storms in the 2023/2024 storm season certainly made their mark. Insurance providers paid out a record breaking £585 million for weather-related damage to people’s homes and possessions last year. Delving further into the detail, claims for damage to homes from windstorms, flooding and frozen pipes in 2024 topped the previous 2022 record for the same claim types by £77m .
Posted on Friday Apr 4

Pension Scams Action Group on fighting pension fraud

This session provides crucial information from industry experts updating you on how PSAG is combatting pension scams. We were also joined by Chris Bell from City of London Police who talked about the new service which is replacing Action Fraud. The session concluded with a 30-minute Q&A, offering clarity on common questions asked. It is vital that the industry and savers report suspicions of pension scams and fraud, for more on how to do this and how to sign up to TPR’s pledge, watch the webinar today.

Key topics covered:
• PSAGs strategic overview
• PSAG in action: updates on fraud prevention efforts
• Replacing Action Fraud: The countdown to a new service from CoLP
Posted on Thursday Apr 3

Are your investment managers using every tool to reduce risk

Recent changes in the international political backdrop and polarisation in views has made responsible investment a trickier subject for some investment managers to navigate. However, it is important that they continue to tackle the largest risks to your investments, and ultimately your beneficiaries, and in my view they should be using all the leverage they are able to. An often-overlooked avenue is systemic stewardship.
Posted on Thursday Apr 3

Comparing risk corrections for illiquid liabilities

The International Capital Standard (ICS) introduces a new approach to discounting illiquid liabilities — one that includes an explicit credit risk premium. But how does it compare to Solvency II’s Fundamental Spread? And what might it mean for UK insurers already familiar with the Matching Adjustment? We break down the key differences and their potential impact. The International Capital Standard (ICS), finalised by the International Association of Insurance Supervisors (IAIS) in December 2024, marks a new chapter for Internationally Active Insurance Groups (IAIGs).
Posted on Wednesday Apr 2

Has Trumps stance on ESG impacted its growth

The principles of Environmental, Social, and Governance (ESG) remain a prominent force in shaping corporate strategies worldwide, though their application can vary depending on industry, company, and region. While certain sectors are re-evaluating their ESG focus, others continue to expand their commitment, with notable implications for the pensions sector. Understanding these dynamics is critical for actuaries as they assess long-term investment risks, sustainability goals, and corporate governance.
Posted on Tuesday Apr 1

March 2025 Edition of the Actuarial Post Magazine

The Spring Statement from Rachel Reeves was a little disappointing in its lack of clarity around pensions – not least the lack of clarity around the second stage of the DWP Pensions Investment Review. However, despite reports that the triple lock is close to being axed, it remains intact for now, even as the Chancellor grapples with spending cuts and tough fiscal choices. In this month’s magazine our cover article, Reimagining the Actuary, comes from Jamie Wilson from hyperexponential, looking at how technology is changing the profession.
Posted on Monday Mar 31

Devolution and LGR governance implications for the LGPS

2025 has got off to a hectic start for the LGPS with the ‘Fit for the Future’ consultation and planning for the year(s) ahead. That’s going to continue with a consultation due on New Fair Deal and miscellaneous changes to address discrimination; the 2025 valuations; not to mention and dashboards, McCloud, and good governance. In areas where devolution and local government reorganisation (LGR) are being fast-tracked, there could be more seismic changes which mustn’t get lost amongst the pressure of other fund priorities.
Posted on Thursday Mar 27

Driving the Sustainability Challenge in Claims

Join us for this MGAA Market Briefing delivered by Sedgwick. The session is delivered by Ian Gibb, National Technical Manager who explores how climate change has a direct impact on the insurance sector and reviews how taking a systems approach has real benefits to driving a more sustainable claim solutions. At the end of the session, participants will be able to: Explain how climate change has a direct impact on the insurance sector. Outline the importance of taking a systems approach to carbon reduction. List some options to reduce the carbon impact of claims
Posted on Wednesday Mar 26

Four key issues HMRC must fix on IHT in pension proposals

I believe there are four key issues that HMRC need to address in their proposals on how to apply inheritance tax (IHT) to pension benefits. The changes required are so fundamental a further consultation will be needed on the updated proposals to ensure they are practical to implement. On 30 October 2024 the Chancellor announced that IHT would be applied to unused pension assets for deaths on or after 6 April 2027.
Posted on Wednesday Mar 26

IFRS 17 Reporting Update

Fresh analysis from Fitch considers the current state of IFRS 17 reporting, revealing how close – or not – the standard has come to its original objectives of comparability and transparency. The adoption of IFRS 17 has driven significant change across the insurance industry. Despite the new global accounting standard’s goal of enhancing comparability and transparency, compliance has proven complex, with varying interpretations and approaches adopted by carriers across the life and non-life segments.
Posted on Tuesday Mar 25

Tracking risk, people and AI predictions 5 years after COVID

As working from home appears here to stay, effective leaders take a balanced and thoughtful approach to support employee wellbeing and organizational resilience. As business leaders mark the fifth anniversary of COVID-19 lockdowns, they take stock of the post-pandemic impact on people, risk and capital. Boards and senior management teams continue to pursue growth while managing risks and opportunities as they navigate a still increasingly complex world.
Posted on Monday Mar 24

Two thirds of employers embrace responsible pensions

Scottish Widows has revealed that more than two-thirds (69%) of employers in the UK now offer a responsibly invested company pension* - but less than half have it as their default option (44%), which puts the onus on employees to take action if they want to switch. However, Scottish Widows’ Responsibly Invested Pensions Report reveals that nearly two thirds (61%) of employees have no idea how to do that, highlighting a growing need for employers and advisers to educate workers on this issue.
Posted on Thursday Mar 20

Independent Trustee Survey 2025

Barnett Waddingham conducted a survey which reveals exclusive insights into the professional independent trustee (IT) market, offering a firsthand look at what to expect when working with an IT. They received over 220 responses to our survey from a range of individuals including member nominated trustees, company appointed trustees (non-ITs), company representatives and pension managers. What key insights are explored within the report
Posted on Wednesday Mar 19

PLSA Investment Conference 2025

The PLSA investment conference offered new pensions Minister Torsten Bell the perfect opportunity to showcase his determination to promote productive investment with a vision for fewer bigger schemes putting the trillions in UK pension pots to work. Torsten Bell: "We need to pay more attention to returns for Savers rather than just to costs or to savings rates important as both of those are"
Posted on Wednesday Mar 19

The fiscal value of treatment and prevention

LCP Health Analytics was delighted to recently convene a roundtable discussion exploring tractable solutions for aligning incentives around the full value of health. We know that medical interventions – both those that prevent onset of disease and those that effectively control disease preventing complications – have wider value beyond health and direct social care. This includes societal benefit (e.g. net productivity) and government value (e.g. fiscal value).
Posted on Tuesday Mar 18

AI and pensions affecting life expectancy

Since the mid-1800s, U.K. life expectancy has consistently increased despite the occasional shocks from major global pandemics or wars. Since the early 2000s, there has been excellent progress in reducing rates of death attributable to cardiovascular diseases and certain cancers. However, these improvements slowed in the decade leading up to the COVID-19 pandemic and only last year did mortality rates return to the relatively low levels achieved in 2019, just before that pandemic.
Posted on Monday Mar 17