Delayed PPF decision could see levy fall to zero
The Pension Protection Fund is looking to reduce its annual levy to zero, reflecting the improved funding position of many defined benefit schemes. In total the PPF now has reserves of more...
Regulation
Pension firms welcome FCA’s new ‘targeted support’ proposals
The DC workplace industry has welcomed FCA proposals to introduced targeted support for pensions as a ‘third way’ option between full-fat advice and more generalised guidance. Standard Life retirement savings director Mike...
FCA proposes ‘targeted support’ to bridge advice gap on pensions
Pension firms will be able to offer targeted support, offering products or bespoke suggestions to specific cohorts of consumers, under new proposals outlined by the Financial Conduct Authority. These proposals are the...
New trustee sustainability group queries the validity of key climate disclosures
Leading professional trustee firms have formed a new Trustee Sustainability Working Group (TSWG). The group seeks to improve stewardship practices across the industry, through engagement with fund managers and investee companies, while...
Hymans Robertson joins Better Business Act coalition
Hymans Robertson has joined the Better Business Act coalition — an organisation aiming to promote higher corporate standards across the UK. The business-led group, driven by B Lab UK, consists of almost...
Standard Life adopts new SDR labels in default fund
Standard Life is the first pension provider to ensure its default investment aligns with the regulator’s new sustainable fund labelling scheme. The FCA Sustainability Disclosure Requirements (SDR) offer four distinct labels —...
Green light for pension transfers?
Corporate advisers have always advised on switching pension schemes — with cost, poor service, fund choice or better support with engagement typically driving these decisions. But switching activity remains relatively low. As...
DB transfer values continue to shrink: XPS
DB transfer values have fallen to their lowest level for a year, according to data from XPS Group. The group transfer value index fell by almost 2 per cent during October this year,...
FCA branded “incompetent” by MPs in scathing report
In a damning report the Financial Conduct Authority (FCA) has been labelled “incompetent at best, dishonest at worst” by MPs from across both Houses of Parliament. The 350-page report accused the UK’s...
41pc of employers ‘very likely’ to introduce CDC
Almost half of all DC schemes (41 per cent) said they are ‘very likely’ to introduce a Collective Defined Contribution (CDC) pension scheme – or a risk sharing alternative – according to...
