UK Archives - Page 66 of 188 - Pension Policy International

19SepSeptember 19, 2023

UK. Systemic risks’ in pension schemes’ inflation hedging – SPP

There are systemic risks with defined benefit (DB) pension schemes’ inflation hedging, the Society of Pension Professionals (SPP) has warned in its latest research.According to its Vision 2023 report, the inflation hedge of a DB scheme is imperfect because a Retail Prices Index (RPI) asset is used to hedge an inflation-linked liability, where the inflation linkage of the latter is limited by caps and floors. “This means the amount of index-linked gilt exposure needed will change as inflation levels...

September 19, 2023

NewsInflation, Risk, UK

18SepSeptember 18, 2023

UK: Pensions Regulator Updates DC Schemes Guidance On Illiquid Assets Disclosure

The guidance has been updated to help DC pension schemes comply with new regulations designed to ensure they consider all the investment opportunities available to achieve best value for savers. On the first occasion when the SIP is updated after October 1, 2023, trustees will have to state their policy on investing in illiquid assets in the default SIP. They will also be required to disclose the asset class breakdown for each of their scheme's default arrangements in the Chair's...

September 18, 2023

NewsRegulation, UK

14SepSeptember 14, 2023

UK. TPR to ‘work more closely’ with pension administrators

The Pensions Regulator (TPR) has said it is planning to "work more closely" with third-party administrators (TPAs) and has updated on recent progress in a blog published today (13 September). The blog, written by TPR interim head of relationship supervision Cliodhna Judge, outlined how a recent pilot project on an ‘administrator relationships' function has led to better engagement with TPAs. The project, which has been running since early 2022, involved working with a voluntary administrator to "explore potential risk areas", and...

September 14, 2023

News, UncategorizedPension Management, Regulation, supervision, UK

13SepSeptember 13, 2023

UK. Sunak tells PMQs he is ‘committed’ to pensions triple lock

Criticised over the state's pension policy, the PM says the government is committed to the triple lock He did not specify that this would extend beyond the next general election It follows Commons questions about maintaining the state pension triple lock beyond the next general election Labour leader Sir Keir Starmer asks the PM why Wandsworth escapee Daniel Khalife was not held in a category A prison The PM says such escapes are "extremely rare" and confirms an...

September 13, 2023

NewsAdequacy, Inflation, UK

12SepSeptember 12, 2023

UK. Pensions: Women get 35% less than men due to care responsibilities

Women's private pension funds are 35% lower than men's, according to the UK government's official estimates. Private pensions consist of workplace schemes or personal pensions set up by individuals using independent companies. Taking time off or going part-time means paying less into pensions during your working life. A charity said employers should do more to support women with caring responsibilities. Rowan Davies, 34, from Cardiff, is currently on maternity leave while caring for her five-month-old son Mabon. She said she was "very aware" of...

September 12, 2023

NewsEquality, Gender Gap, UK

08SepSeptember 8, 2023

Review of climate-related disclosures by occupational pension schemes

By The Pensions Regulator From 1 October 2021, new regulations came into effect for trustees of certain schemes aimed at improving governance and reporting of climate-related risks and opportunities. Reports under these regulations started to be published from mid-2022. Here, we set out our preliminary observations and feedback to industry, based on our review of a selection of the tranche one climate-related disclosures published by occupational pension schemes Libro completo “aquí”

September 8, 2023

Books, Books, Reports, System Characterization2023, Climate crisis, ESG, Regulation, UK

08SepSeptember 8, 2023

UK. Triple lock could add £45bn a year to state pensions bill by 2050, IFS says

Maintaining the triple lock on state pensions could add as much as £45bn a year to the welfare bill by 2050, putting “insurmountable pressure” on the government to increase the minimum retirement age, according to the Institute for Fiscal Studies. In a report published ahead of the release next week of official data for earnings growth, which will be used to set the annual increase in pensions, the IFS estimates spending on retirees could rise by a further £2bn from...

September 8, 2023

NewsFunding, State Pensions, UK

07SepSeptember 7, 2023

Pension Protection Fund pushes for new remit to boost UK investment

The UK’s pension lifeboat fund is pushing to become a consolidator of corporate retirement plans in a move that it believes could unleash “substantial” new investment for the economy. In a submission to the government published on Tuesday, the Pension Protection Fund said that if ministers wanted to unleash money held by pension funds into the economy there would need to be a “step change” in the market. The PPF is a statutory fund set up in 2005 and is...

September 7, 2023

NewsOccupational Pensions, UK

06SepSeptember 6, 2023

UK. Government announces new welfare reforms to help thousands into work

A consultation, launched today (Tuesday 5 September), will consider changes to the Work Capability Assessment, with proposals to ensure it is delivering the right outcomes for supporting those most in need. The consultation will look at updating the Work Capability Assessment’s categories so they better reflect the modern world of work and the opportunities more readily available to disabled people. Earlier this year, Government confirmed investment worth £2 billion to support disabled people and those with long-term health conditions into work,...

September 6, 2023

NewsLabor Market, Pension Reform, Regulation, UK

05SepSeptember 5, 2023

Raise pension contributions to combat UK capital market decline, says think-tank

Higher minimum contributions to pension schemes and turning the regulatory screw would help plug shortfalls in retirement income and reverse shrinkage in Britain's capital market, think-tank New Financial said in a report on Tuesday. A welter of regulatory reforms to bolster London's capital market and boost the flow of money from pensions into investments is a good start, but more is needed to avoid pensioners having too little to live on, said New Financial CEO William Wright. "This isn't something that...

September 5, 2023

NewsContributions, System sustainability, UK

September 2023