November 2024
01Nov

UK. Former miners celebrate ‘hard-fought’ win in pension scandal

Former miners have said they are delighted their “hard-fought campaign has finally paid off” after the government said it would end the pension scandal that left many of them “dying in abject poverty”. In her first budget on Wednesday, Rachel Reeves announced the £1.5bn mineworkers’ pension fund would be handed over in its entirety to ex-miners and their families, after years of campaigning on an unjust agreement that allowed the government to take half of their pension surplus. The pensions...

November 1, 2024
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October 2024
31Oct

Pensions Minister set out Government’s objectives to boost UK investment and improve saver returns

In a keynote speech at a recent pensions conference, Emma Reynolds set out two key objectives: to improve the level of pension fund investment in the UK economy and to improve savers’ returns. Notable points in the speech to the Pensions and Lifetime Savings Association’s annual conference included: Building on the Mansion House Compact and confirming an interim report on the first phase of the government’s Pensions Review would be published before Christmas, with a final report next year. Commenting...

October 31, 2024
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30Oct

The U.K.’s fertility rate is at its lowest level in 90 years, far below the ‘replacement rate.’

A brewing demographic crisis in the U.K. might add another layer of complication to the country’s ebbing productivity rates, which the Labour government hopes it can tackle. Parts of the U.K. are seeing their lowest birth rates in about 90 years, or since World War II. With a productivity crisis looming large, a stubbornly low number of births could mean more problems for the U.K. than just an aging population. England and Wales are seeing fertility rates plummet to 1.44 children...

October 30, 2024
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30Oct

‘Companies are not listening to us’: DC schemes’ net zero challenges

Progress towards achieving net zero carbon emissions by 2050 is being hampered by some companies failing to engage with pension schemes or backtracking on previous commitments, according to research. A new report from the Defined Contribution Investment Forum (DCIF) has highlighted stewardship and engagement issues being faced by some of the country’s largest defined contribution (DC) master trusts. Katharina Lindmeier, senior responsible investment manager at Nest, told the DCIF that much of the “low hanging fruit has been plucked” as schemes...

October 30, 2024
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30Oct

UK Budget and US election hot topics at pension seminar

The impact of the upcoming UK Budget and US election on pensions and investment markets was a key focal point at Quantum Advisory’s latest event. Finance, HR and pension professionals came together on 22 October to hear exclusive industry insights and market updates at the firm’s pension and investment breakfast seminar at the Celtic Manor Twenty Ten Clubhouse. Dan Redwood, a senior investment consultant and actuary at Quantum Advisory, opened the event with an overview of macroeconomics, gilts and equity markets...

October 30, 2024
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29Oct

UK. Research reveals ‘clear need’ for greater DB support at retirement

More than a third (38 per cent) of pre-retiree defined benefit (DB) pension scheme members do not feel confident about planning their retirement, according to research from Just Group, which highlighted a "clear need" for greater support at retirement. In addition to this, the survey found that one in five pre-retired DB members over the age of 50 are yet to start planning for life after work. Given this, Just Group argued that there is a "clear need" to help private...

October 29, 2024
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28Oct

Will the Pensions Review herald long overdue integrated policy making?

The new government has laudable ambitions, but will it do more than simply “firefighting”? Pensions are a priority, judging by its speed in launching ‘a landmark’ review to boost investment, increase pension pots and tackle waste. Led by the first ever joint Treasury and DWP pensions minister Emma Reynolds, it is initially investigating scale, consolidation, the role of the single employer trust, master trusts and GPPs with their different governance structures of trustees and IGCs. The call for evidence for this, the first...

October 28, 2024
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25Oct

2024 Defined Contribution Pension and Savings Report

By Stuart Arnold & Claire Murray This year’s survey reveals the immediate focus and priorities that employers, plan sponsors and pension trustees have for their defined contribution (DC) retirement plans. In this edition, in response to the growing concern surrounding retirement adequacy, we look at the views and actions of employers concerning the outcomes that employees can expect from their retirement provision. What are the main priorities for employers in retirement provision, what steps are sponsors taking, and what opportunities should...

October 25, 2024
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24Oct

Pensionbee’s strategic US expansion backed by £20m funding as fintech eyes global pension market

Pensionbee, the online retirement savings provider, reported positive adjusted earnings in the last quarter and raised £20m for its US expansion. The London-based fintech firm saw a revenue increase in the third quarter, jumping to £9m from £6m the previous year. The company anticipates breaking even on an adjusted EBITDA basis by 2024. For the third quarter, it recorded its second consecutive quarter of positive adjusted EBITDA at £1m, as reported by City AM The firm also reported £5.5bn in assets under...

October 24, 2024
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23Oct

UK pensions minister pushes back launch of commercial pension dashboards

UK government pensions minister Emma Reynolds has announced that the its MoneyHelper Pension Dashboard service will be made available before commercial dashboards. Reynolds said it was too early to confirm a launch date to the public, with the DWP previously saying that the launch date will only be announced once they are assured most pension schemes have connected and the dashboards are working well. The Pension Dashboards Programme (PDP) has been given the task of developing the Pension Dashboards ecosystem and...

October 23, 2024
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