UK Archives - Page 104 of 196 - Pension Policy International

13MayMay 13, 2022

UK. 12 pension funds launch EM climate collaboration

A group of 12 UK pension funds convened by the Church of England (CofE) Pensions Board have teamed up in a bid to find ways in which to support the climate transition in emerging markets. The schemes include the £83bn Universities' Superannuation Scheme; the £57bn BT Pension Fund; Railpen, which manages the £37bn of assets; the £35bn Brunel Pension Partnership; the £55bn Border to Coast Pension Partnership; Nest, which has £24bn; and the £30bn Legal & General Workplace Pension Plan...

May 13, 2022

News2022, Corporate Governance, ESG, Investment, UK

12MayMay 12, 2022

The DC Future Book 2021: In Association With Columbia Threadneedle Investments

By Pension Police Institute & Investments Columbia Threadneedle Columbia Threadneedle Investments has supported The DC Future Book since its inaugural publication six years ago. We are pleased to see that it has become the foremost longitudinal study of the UK Defined Contribution (DC) market we envisaged it to be. This is a special edition indeed – it is the first time that the Pensions Policy Institute has been able to track DC market activity against the backdrop of a major crisis....

May 12, 2022

Books, Investment, Pension design, Pension Management2022, Adequacy, Corporate Governance, Defined Contribution, ESG, UK

12MayMay 12, 2022

Pensions: people on lower incomes can be confused and disadvantaged by defined contribution pensions

New research released finds defined contribution (DC) pension schemes, which do not automatically offer a secure, guaranteed income for life, can lead to poor outcomes for those on lower incomes. Since the introduction of ‘pension freedoms’ in 2015, the vast majority of consumers are opting against a guaranteed income, resulting in them facing significant threats to their retirement security. Researchers from the University of Birmingham, supported by abrdn Financial Fairness Trust, conducted in-depth interviews with DC pension consumers and gained...

May 12, 2022

News2022, Financial Education, Income, System sustainability, UK

12MayMay 12, 2022

UK. 60% of pension funds don’t expect to meet net zero goals

Sixty per cent of a group of large pension funds across North America, Europe and Australasia believe they will fail to achieve their net zero goals under current conditions, new research has revealed. This pessimistic outlook — disclosed by Create-Research, which surveyed 50 large funds that collectively manage €3.3tn (£2.9tn) in assets — comes despite more than half of those surveyed having either already embedded or are in the process of incorporating net zero strategies into their portfolios. The findings will...

May 12, 2022

News2022, Climate crisis, Corporate Governance, UK

11MayMay 11, 2022

UK. Queen’s Speech measures spark protests

There was no mention of automatic enrolment reform in the Queen’s Speech, but bills around local boycotts, online safety and a revamped audit and reporting framework will all impact the industry, experts have said. Campaigners have promised to take to the streets to protest a bill aimed at tackling local boycott, divestment and sanctions campaigns by public bodies including the Local Government Pension Scheme. Meanwhile, pensions minister Guy Opperman has promised that a consultation into a new value for money framework...

May 11, 2022

News2022, Operations, Regulation, UK

10MayMay 10, 2022

US. The Impact Of Government Retirement Requirements On Small-Business Owners

Retirement funds in America accumulate mainly through employer-sponsored plans including 401(k) accounts. As of 2021, 68% of private industry workers had access to this type of plan. However, while an exact number is not known, in 2017, the U.S. Census Bureau estimated that only 41% of those with access to a 401(k) contributed to it. As a response to this issue, a number of states have passed retirement mandates requiring businesses to offer their employees a retirement savings plan. While...

May 10, 2022

News2022, Gender Gap, UK

10MayMay 10, 2022

UK. FCA needs more crypto experience, expert warns

The FCA needs more experience with crypto in order to understand the asset class fully, an expert has warned. Mark Aruliah, senior policy adviser at blockchain analysis firm Elliptic, who spent a number of years as a technical specialist at the FCA, said he doesn’t see any strong advantages in being in the UK as a crypto firm. “I’m not saying the UK regulator is in a positive or negative position, I think the jury is out for me,” he said. Speaking...

May 10, 2022

News2022, Cryptocurrencies, Regulation, UK

09MayMay 9, 2022

Half of older women fear having to work beyond UK state pension age – study

Half of older women fear they will have to keep working beyond the state pension age in order to make ends meet, according to research. As many as 53% of women aged 45 and over surveyed by the older worker advice website Workingwise.co.uk said they were concerned that their pension would not be enough for them to be financially independent in later life. The study, carried out to investigate women’s economic situation as they approach retirement, exposes the lasting impact that...

May 9, 2022

News2022, Gender Gap, UK

09MayMay 9, 2022

Windfall tax on oil giants won’t hurt British pensioners, thinktank finds

Britain’s main pension funds own less than 0.2% of Shell and BP shares, undermining claims that a windfall tax on big oil companies would harm the retirement incomes of UK savers. A review of the oil giants’ shares by the Common Wealth thinktank shows the largest holdings are by US investment companies, including BlackRock and Vanguard, and the wealthy Norwegian pension funds. The UK’s multibillion-pound defined contribution occupational pension funds, which hold the savings of tens of millions of workers,...

May 9, 2022

News2022, Pension Management, Risk, UK

05MayMay 5, 2022

UK. Pasa sets out good practice for DB transfers

The Pensions Administration Standards Association has published good practice guidance for those dealing with defined benefit transfers. At its annual conference in London yesterday (May 3), Pasa explained that the time taken to process DB transfers varies hugely, and sometimes, unexplained delays damage the relationship members have with their scheme, and pensions in general, which can lead to a breakdown of trust. Some transfers can often take months to execute, while others are processed within a month but administration delays can...

May 5, 2022

NewsDB Schemes, Operations, Regulation, UK

May 2022