UK Archives - Page 83 of 188 - Pension Policy International

11NovNovember 11, 2022

UK. Ten years of Automatic Enrolment achieves over £114bn pension savings

In 2021, employees across the UK saved £114.6 billion into their pensions. This is a real terms increase of £32.9 billion compared to 2012, when Automatic Enrolment was introduced. The figures reveal how the policy has transformed pensions saving over the last ten years for people from Sterling to Southend, by normalising workplace pension saving, establishing a culture of retirement saving for a new generation, and helping foster a greater sense of security in later life. More than 10.7 million employees...

November 11, 2022

NewsBehavioral Economics, Pension design, UK

10NovNovember 10, 2022

UK. Insurers face claims threat from pension fund LDI crisis

The events of the past few weeks are likely to result in claims and/or pressure on commercial relationships, particularly when pension schemes conduct their triennial valuations and agree new deficit reduction plans with employers. UK pension scheme managers and their insurers could face claims over their use of liability-driven investment strategies following the turbulence caused by Liz Truss's mini-budget There may be a surge in professional negligence claims against liability-driven investing (LDI) pension funds in the wake of the UK’s mini-budget. Claims...

November 10, 2022

NewsInvestment, Pension Management, UK

09NovNovember 9, 2022

UK. How Pensions Threatened Financial Stability

Speech By Sarah Breeden, Bank Of England Executive Director, Financial Stability Strategy And Risk, Given At ISDA & AIMA On the afternoon of 28 September, I found myself in a rather unusual position: having to explain to journalists why a part of the pensions industry, unheard of to most of their readers, had posed such a large threat to financial stability that it warranted intervention in the gilt market from the Bank of England. Financial markets globally had been volatile for...

November 9, 2022

NewsInvestment, Pension Management, UK

08NovNovember 8, 2022

UK expected to raise state pensions, benefits in line with inflation

Britain is expected to increase state pension and welfare payments in line with inflation in next week's budget, the Times newspaper reported. British Prime Minister Rishi Sunak is expected to announce the increases to ensure that the Nov. 17 budget is seen as fair and compassionate, the report said. The government will set out its fiscal plans in an effort to rebuild investor confidence after a "mini-budget" earlier this year caused borrowing costs to surge. New finance minister Jeremy Hunt will seek...

November 8, 2022

NewsPublic Pensions, Regulation, UK

08NovNovember 8, 2022

Climate change poses a threat to health equality in the UK: The Longevity Science Panel report

The Longevity Science Panel, in collaboration with L&G, today publish a report analysing the current and future impacts of climate change on the UK's health. The research reveals that climate change will be experienced unevenly across different sections of the UK population, and may deepen health inequalities in physical and mental health in the UK. The report titled, The Effects of Climate Change on Health in the UK, shows that the most economically deprived and those who are already frail...

November 8, 2022

NewsClimate crisis, Equality, Health, UK

07NovNovember 7, 2022

UK bond turmoil leaves smaller pension schemes with longer-term costs

The recent crisis in Britain's government bond market means smaller UK pension schemes may fork out more money for a bespoke liability-driven investment (LDI) strategy in future to ensure better protection, industry sources say. LDI products, sold by asset managers such as BlackRock, Legal & General and Schroders to pension funds, use derivatives to help them "match" assets and liabilities so there is no risk of shortfall in money to pay pensioners. Pension funds, who must post cash as collateral against...

November 7, 2022

NewsInvestment, Regulation, UK

07NovNovember 7, 2022

UK. Renewed focus needed to address barriers to pension engagement

Brian Byrnes, head of personal finance at Moneybox, explores how financial advisers will be key in tackling the issue of pensions engagement. Ten years on from the launch of auto enrolment in the UK, it’s important we reflect on its success, with more people than ever before contributing to their retirement, who otherwise wouldn’t have done so. But as we look ahead, the question we’re now faced with is how can the industry improve upon the initial successes of auto...

November 7, 2022

NewsFinancial Literacy, UK

03NovNovember 3, 2022

The Story of UK Pensions: An engaging guide to the pensions system

By Matthew Rhodes This book explains the wonderful world of UK pensions. It starts with a brief history of how the system has developed over time, covering the different arrangements provided by the private and public sectors, as well as the State. It then investigates the system in more detail, explaining some of the complexitiies and why pensions so often make news headlines. This book is suitable for anyone - whether you know nothing about pensions, or are someone in...

November 3, 2022

Books, Books, System Characterization2021, Pension Management, Regulation, UK

03NovNovember 3, 2022

UK pensions dashboards may lead to industry consolidation

Final regulations to enable people in the UK to access information on their pensions through online pension dashboards have been laid before parliament. The pensions dashboard regulations set out how pension schemes will connect to the online dashboard ecosystem and what providers must do to become a qualified pensions dashboard service. It comes in the year that marks 10 years since the introduction of automatic enrolment. According to UK Department for Work and Pensions (DWP), with more people managing their finances...

November 3, 2022

NewsPension Management, UK

02NovNovember 2, 2022

FCA extends pensions dashboard deadline by two months

FCA regulated pension providers have been given an extra two months to comply with the regulator's pensions dashboard rules. In the final rules for the regulations published today (November 1), the Financial Conduct Authority said providers will now have until August 31 for implementation, to align with the government’s extension to a deadline on occupational pension schemes. The FCA has also extended the connection deadline for providers with fewer than 5,000 pots in accumulation and who rely on a third-party integrated...

November 2, 2022

NewsRegulation, Technology, UK

November 2022