UK Archives - Page 70 of 188 - Pension Policy International

26JunJune 26, 2023

UK Pension Reform May Drive Billions to Riskier Assets, FT Says

Highly-anticipated reforms of UK pensions could channel billions of pounds into fast-growing companies and boost investments in riskier assets, the Financial Times reported. Chancellor of the Exchequer Jeremy Hunt will use his annual Mansion House speech next month to unveil regulatory changes to encourage pension funds to invest in high-growth British assets, including early-stage companies and equities and infrastructure focused on green initiatives, the FT said, citing unidentified sources. That would mirror the approach taken by large Canadian and Australian...

June 26, 2023

NewsPension Reform, UK

26JunJune 26, 2023

Alternative funds expect surge in pension inflows

A new study conducted by Ocorian, a global leader in entity administration and alternative fund services, reveals that alternative fund managers are anticipating a significant increase in inflows from pension funds over the next 18 months. The research, which surveyed 100 alternative fund managers across the United Kingdom, United States and Europe, indicates that 36% of respondents expect a dramatic rise in investments from pension funds, while an overwhelming 87% predict an overall increase in inflows into alternative investments from...

June 26, 2023

NewsEU, Investment, UK, US

23JunJune 23, 2023

Shell Dumped by Church of England Pensions Due to Oil Risk

The Church of England Pensions Board said it had decided to divest its holding in Shell (SHEL.L) over what it said were insufficient plans to align its strategy to the goal of limiting global warming to 1.5 degrees Celsius. The Board, which up to 2022 led engagement with Shell on behalf of the CA100+ climate-focussed investor group, has around 1.35 million pounds ($1.72 million) invested in Shell of its total 3.2 billion pounds in investments. The Church of England's separate 10.3...

June 23, 2023

News, UncategorizedClimate crisis, Pension Investment, UK

22JunJune 22, 2023

UK. Pension policy risks being ‘stuck in a previous era’

Pension policy risks being 'stuck in a previous era' rather than reflecting the realities of scheme funding levels today, according to LCP partner Steve Webb. Giving evidence to the Work and Pensions Select Committee, Webb pointed out that back in 2014. the combined deficit of DB pension schemes stood at nearly £400bn. This is in stark contrast to the latest figures which show a surplus of over £400bn. "For many of our clients, the issues we are now discussing are about managing...

June 22, 2023

NewsPublic Policy, Regulation, UK

19JunJune 19, 2023

UK. Fifth of savers want oil excluded from their pensions

A growing number of pension savers would like to see the oil sector completely excluded from their pension fund's investments. Some 21 per cent of pension savers say they want oil to be axed from their pension, according to a survey from online pension provider PensionBee. This has jumped from 15 per cent of pension savers last year. Alongside oil, the main investments people want excluded from their pensions are companies contributing to deforestation, habitat destruction and predatory lending. Pension savers also believe...

June 19, 2023

NewsClimate crisis, Investment, UK

16JunJune 16, 2023

UK. BOE Issues Fresh Warning Over Risks in Pension Transfers

The Bank of England has warned firms offloading pensions in a multibillion-pound market that they need to improve the way they manage reinsurance risks. The Prudential Regulation Authority, part of the BOE, wrote to life insurers on Thursday to highlight its concerns about the use of “funded reinsurance,” where insurers pay upfront to transfer the risk of pensioners living longer to another firm. If one of the major reinsurers were to fail, the original insurer could be exposed to “sub-optimal portfolios”...

June 16, 2023

NewsRegulation, Risk, UK

15JunJune 15, 2023

U.K. effort looks to bring parity to retirement savings

U.K. retirement funds, consultants and money managers are gearing up to jointly tackle retirement inequality. Starting with the gender pension gap — in which males hold vastly more savings than women — a newly formed coalition is looking to develop new planning tools and guidance for plan participants. The Pensions Equity Group, a collaboration of retirement industry professionals, is working to help achieve better equality of retirement savings by developing ways to consistently measure retirement inequalities and potentially press for needed...

June 15, 2023

NewsGender Gap, UK

14JunJune 14, 2023

UK. Govt extends National Insurance contribution deadline

The government has extended the deadline for paying voluntary National Insurance contributions by nearly two years, with taxpayers to be given until 5 April 2025 to boost their state pension entitlement. According to the government announcement, the extension aims to ensure that people have more time to properly consider whether paying voluntary contributions is right for them and ensure that no-one misses out on the possibility of boosting their state pension entitlements. The original deadline was extended to 31 July 2023...

June 14, 2023

NewsRegulation, State Pensions, UK

13JunJune 13, 2023

UK pension fund fights appeal in landmark fossil fuels lawsuit

Britain's biggest private pension scheme on Tuesday asked a London court to block a landmark lawsuit over its alleged failure to devise a credible plan to divest from fossil fuels. The 82 billion-pound ($103 billion) Universities Superannuation Scheme (USS) is facing legal action from two of its members over its continuing investments in coal, natural gas and petroleum. The lawsuit was blocked last year by London's High Court, but the two academics behind the claim asked the Court of Appeal to...

June 13, 2023

NewsPension Management, UK

12JunJune 12, 2023

UK. What can be done about the ‘great gender pension chasm’?

Thank you for the depiction of the “great gender pension chasm”, (Women’s private pensions worth 35% less than men’s in Great Britain, 5 June). It is something we’ve long been concerned about and tracked for a number of years, examining how it has persistently shaped women’s retirement prospects for the worse. The vast inequality between private pension pots for men and women is alarming. The findings of the latest Department for Work and Pensions gender pension report show the need...

June 12, 2023

NewsGender Gap, UK

June 2023