November 2018

02Nov

ESG factors could improve pots

A question often asked by individuals new to sustainable and responsible investing is: "My priority is a secure pension pot for retirement, so why should I care about sustainability and climate change?" And while the answer is nuanced, fundamentally it is: because you will have a bigger retirement pot by doing so. Mounting evidence shows this to be the case and it is a key reason why the Department for Work and Pensions recently laid new regulations that will require pension...

November 2, 2018
News, Slider,
Read more...
01Nov

UK. Public sector pension had double fracking investments

Local authority pension funds continue to invest in dirty oil and gas. The largest public sector pension fund in the UK has more than double the investment in the fracking industry than previously known with more than £1billion at risk, The Ecologist can reveal. Tameside/Greater Manchester (GMPF) had by 31 March 2018 put in an extra £609m worth of holdings in companies that back fracking - which include financial, chemical, security and waste concerns. This is over and above the £700m...

November 1, 2018
News, Slider,
Read more...

October 2018

30Oct

UK. TPR bans pension trustees over high-risk investments

The Pensions Regulator (TPR) has banned two trustees of the London Quantum pension scheme for transferring funds into high-risk and suspected scam investments. Stephen Ward and Anthony Salih, directors of Dorrixo Alliance Limited, which acted as trustee for the London Quantum pension scheme were found to have put pension savers’ money into eucalyptus farms, hotel rooms on an African island and car park bays. TPR’s determinations panel has banned both men from acting as pension trustees due to their ‘lack of...

October 30, 2018
News, Slider,
Read more...
29Oct

UK. Budget 2018: Dutch-style pensions revolution could see thousands of workers pool retirement pots

Tens of thousands of workers will be able to pool their retirement pots under a pensions revolution expected to be outlined in the Budget. Philip Hammond is expected to announce a consultation on Dutch-style pension schemes - known as "peoples' pensions" - which will thousands of members pay into a single pot. The approach is seen as a "middle way" between gold-plated final salary schemes, which guarantee income in retirement but can leave companies with huge deficits, and defined contribution schemes...

October 29, 2018
News, Slider,
Read more...
26Oct

UK Regulators Issue Joint Pensions Strategy

The UK’s Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have launched a joint regulatory strategy to address the fundamental changes that have altered the UK’s pension landscape in recent years. The strategy, which outlines how the two regulators will collaborate,, drew on a call for input the regulators published in March that sought views from industry and consumer group representatives. “Our goal is to ensure the people who run workplace pensions meet our expectations so that members can have...

October 26, 2018
News, Slider,
Read more...
25Oct

UK. Prudential Closes $3.2 Billion in New UK Longevity Reinsurance Deals

Firm says market for pension de-risking is expanding at its fastest pace in years. US-based Prudential Retirement, a unit of insurance giant Prudential Financial, has concluded $3.2 billion in previously undisclosed longevity reinsurance contracts, which the company says is another sign that pension de-risking activity in the UK is continuing at a brisk pace. As part of the transactions, Prudential assumes the longevity risk for approximately 13,200 British retirees. “The market for pension de-risking solutions is expanding at its fastest pace in...

October 25, 2018
News, Slider,
Read more...
24Oct

UK. Savers top-up pensions as Budget cut looms

Pension provider Zurich has seen pension top-ups soar ahead of next week’s Budget as fear of pension tax relief cuts loom. Cash flowing into pensions on Zurich’s investment platform increased 98 per cent in September, compared to the annual average. The value of one-off pension contributions also jumped 161 per cent from the 12-month average as savers invested larger amounts, the provider said. Alistair Wilson, Zurich’s head of retail platform strategy, said people were "making the most of the higher pension savings...

October 24, 2018
News, Slider,
Read more...
23Oct

Study: Nearly 90 per cent of pension savings not accounting for climate risks

Assessment of world's 100 largest pension funds finds only 13 per cent have been assessed for their exposure to climate-related risks Up to £7.5tr of savings managed by the world's largest pension funds are potentially exposed to climate-related risks and have yet to undergo any formal climate risk assessment, a new analysis released today reveals. Non-profit initiative the Asset Owners Disclosure Project (AODP) assessed the world's 100 largest pension funds for the study and found just 13 per cent of savings...

October 23, 2018
News, Slider,
Read more...
18Oct

UK sitting on £20bn of unclaimed pension pots

Some 1.6 million lost pension pots worth nearly £20bn remain unclaimed, with people often losing track of their savings due to job changes or moving house, the Association of British Insurers (ABI) says, reffering to the figures as “jaw-dropping”. Research by the Pensions Policy Institute (PPI) on behalf of the ABI revealed 800,000 lost pensions worth an estimated £9.7bn. If scaled up to the whole market, it estimates there are collectively around 1.6 million pots worth £19.4bn unclaimed – the equivalent...

October 18, 2018
News, Slider,
Read more...
17Oct

UK. FCA to require climate change disclosure for pension schemes

The FCA is consulting on rule changes requiring workplace personal pension scheme providers to disclose their ESG considerations, including climate change. The Financial Conduct Authority (FCA) is consulting on rule changes requiring workplace personal pension scheme providers to disclose their environmental, social and governance () considerations, including climate change. In a discussion paper published this morning, the regulator said pension providers must increasingly recognise that 'climate change may reduce investment values and pension outcomes'. The FCA suggested this was particularly important for...

October 17, 2018
News, Slider,
Read more...