Corporate pensions drag heels on climate change
New research, by law firm Pinsent Masons found 74 per cent of UK corporate pension schemes recognise the potential impact climate change could have on future investments. However, just 5 per cent...
Regulation
Insurance payouts excluded from Universal Credit means-test: DWP
The Department of Work and Pension has clarified that payouts from protection policies - including income protection, critical illness or terminal illness policies - will not impact on means-testing for Universal Credit....
Lifesight adopts ESG strategy for default DC fund
Lifesight, Willis Towers Watson’s DC master trust will allocate around half of its equities into environmental, social and governance investment strategies. It is understood that this is the first master trust to...
TPR bans trustees who invested in eucalyptus farms
An estimated £6m of pension savers’ money was invested in exotic, high-risk investments which included eucalyptus farms, hotel rooms on an African island and car park bays. The TPR says such investments...
Court ruling sees pension savers hit with 40pc IHT bill
The court overturned an earlier judgement, and ruled that HMRC could impose 40 per cent IHT on pension transfers made by those who know their life expectancy is impaired. Effectively this means...
PRA exempts small insurers from auditing rules
The Prudential Regulatory Authority will no longer require small UK insurers to have their annual Solvency and Financial Condition Report (SFCR) externally audited. This exemption will benefit all members of the Association...
FCA and TPR launch “joined up” pensions strategy
The Financial Conduct Authority and the Pensions Regulator have announced a joint regulatory strategy aimed at improving retirement outcomes for consumers. This will include a wide-ranging strategy review next year, which will...
Ian McKenna: Fast track to Open Pensions
Suggest a potentially disastrous outcome and follow it up with an alternative that would previously have been highly unpopular, but is then greeted with massive relief. It’s a strategy that has become a standard part of...
Jonathon Webb: Overseas and overlooked
Global mobility and emigration are on the rise as an increasing number of individuals choose to retire or spend part, or most, of their working life overseas. These individuals may already be living outside the UK...
Big increase in pension funds showing surplus
Nearly two out of five (37 per cent) pension schemes are now in surplus against their funding target, according to Mercer’s 2018 valuation survey. This is an increase on the 2015 survey,...
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