Pension reforms to cost UK companies £40bn
New rules designed to protect company pension schemes could cost UK employers an extra £40bn over the next decade, according to new figures from LCP. The consultancy firm has conducted an impact...
DB
Josephine Cumbo: Open and closed case on investments
Millions of individuals around the country already face a daunting task saving enough for retirement. But the challenges of saving adequately for old age are set to get much tougher due to...
Northern LGPS becomes latest MMMM signatory
The £46bn Northern Local Government Pension Scheme (NLGPS) has become the latest major pension scheme to sign up to the Make My Money Matter (MMMM) pledge as part of its commitment to...
TPR gives green light to superfund transfers
The Pensions Regulator has published new guidance for DB schemes considering consolidation into a new superfund. The guidance — aimed at trustees and sponsoring companies — stresses that they need to be...
Global Pension Index reveals Covid impact on UK pensions
Covid-19 is exacerbating retirement insecurity across the globe and and is causing sustainability problems for the UK’s pension scheme. This was the conclusion from the Mercer CFA Institute Global Pension Index which compares...
Less gloomy outlook for DB scheme funding: WTW
Just one in six pension schemes report that the Covid crisis has weakened the sponsoring employers ability to standing behind the scheme long term. This was the result of the latest Willis...
Corporate lifeline’s threat to pensions
The Corporate Insolvency and Governance Act 2020 is designed to provide businesses in financial difficulties with flexibility and breathing space to continue trading and/or to explore a potential rescue or restructuring. Both...
Millions will need advice or better guidance post-McCloud case – ACA
Advice, modelling tools and effective communications as well as simplification of pension tax rules will be needed to help millions of public sector workers understand what the McCloud age discrimination case means...
DB to DC focus shift in TPR’s new 15-year strategy
The Pensions Regulator has published a new corporate strategy, setting out its priorities for the next 15 years. Reflecting the changing nature of workplace pensions, this strategy outlines a shift in focus...
Covid increases DB deficits by £50bn
The Bank of England's decision to cut interest rates in response to the coronavirus crisis have driven defined benefit deficits higher, with UK pension schemes facing a funding hole of £166.1bn by...
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