UK Archives - Page 83 of 193 - Pension Policy International

26JanJanuary 26, 2023

U.K. Sustainability rules could set ‘a high bar,’ but cloud definitions

Although upcoming rules on sustainable investment product labeling and disclosure could put the U.K. ahead of Europein combating greenwashing, they may not makes things clearer for institutional investors, based on reactions submitted to the Financial Conduct Authority. On Wednesday, the last day for commenting on the FCA's Sustainability Disclosure Requirements and investment labels proposed in October, financial groups and experts generally praised the regulator's approach as setting a high bar for the labeling of funds marketed as green and disclosure...

January 26, 2023

NewsInvestment, Regulation, Sustainability, UK

24JanJanuary 24, 2023

UK. The role of the Regulator in monitoring and enforcing pensions dashboards compliance

The Pensions Regulator ("TPR") is responsible for ensuring that all in scope occupational pension schemes comply with their duties under the Pensions Dashboards Regulations 2022 (the "Regulations"). The Regulations introduce new legal duties for trustees and scheme managers – discussed in more detail in our previous blog – and give TPR the power to monitor their compliance and take enforcement action if necessary. With the connection deadlines for some of the UK's largest pension schemes edging ever closer, TPR...

January 24, 2023

NewsRegulation, Technology, UK

24JanJanuary 24, 2023

U.K. pension plan sponsors might need to contribute $42 billion more – analysis

New funding rules for U.K. defined benefit plans being developed by The Pensions Regulator could potentially mean plan sponsors will need to make up to £34 billion ($42 billion) in additional contributions, according to an analysis published Monday by investment consultant Lane Clark & Peacock. The forthcoming funding rules call for pension funds to be funded on a "low dependency" basis once they are "significantly mature," without further specifics. It also calls on trustees to expect sponsors to pay down...

January 24, 2023

NewsFunding, Regulation, UK

17JanJanuary 17, 2023

Bank of England says shake-up of insurance rules increases risks

The Bank of England on Monday warned that a much-heralded overhaul to insurance rules “increases risk” and could result in a corporate failure that ultimately hits the public purse. The BoE’s top officials also sounded alarm bells about other aspects of the government’s sweeping plan to turbocharge the City of London’s growth, warning that some of the changes could jeopardise financial stability. The comments from BoE governor Andrew Bailey, and Sam Woods, head of its Prudential Regulation Authority, came a month...

January 17, 2023

NewsRegulation, UK

13JanJanuary 13, 2023

UK Actuary Responds to Work and Pensions Committee Over LDI Issues

The Government Actuary’s Department (GAD) has assisted the Work and Pensions Select Committee with its inquiry into defined benefit pensions with Liability Driven Investments (LDI). The Government Actuary, Martin Clarke, was pleased to share his perspectives on the LDI issue in response to the Committee’s questions. Pensions and investment GAD’s knowledge and involvement with LDI is unique as we work with schemes that use leveraged LDI. We also work with government departments that support the pensions and investment industry. Discussions on the LDI...

January 13, 2023

NewsPension Management, supervision, UK

12JanJanuary 12, 2023

Building up the voluntary carbon markets

Voluntary carbon markets stand to play a big role in the shift to a net zero global economy by enabling companies to offset certain emissions during the transition. They also have the potential to channel significant and much-needed investment towards initiatives that will have a positive climate impact. These markets are distinct from the compliance carbon markets managed by governments, such as the EU’s emissions trading system, and are already growing rapidly. According to non-profit Ecosystem Marketplace, VCMs almost quadrupled in...

January 12, 2023

NewsESG, Investment, UK

11JanJanuary 11, 2023

CDC schemes would have ‘weathered’ market turmoil

Aon said market turbulence would not have had an adverse impact on members’ benefits A ‘well-designed’ collective defined contribution (CDC) scheme would have withstood recent market turmoil, according to Aon. In an update to the firm's Collective DC in adverse markets paper, originally published in October 2020, Aon said an efficient CDC scheme would have been able to resist the financial turbulence in the markets throughout 2021 and 2022, without having a negative impact on members' benefits or their retirement outcomes....

January 11, 2023

NewsCDC, Pension design, Returns, Risk, UK

10JanJanuary 10, 2023

UK. The key legal issues for pension schemes in 2023

After what proved to be an eventful year for schemes in 2022, top pension lawyers speak to Jasmine Urquhart about what they think will be some of the key legal and regulatory issues during the year ahead. Pensions dashboards At the top of the list for many lawyers consulted was the forthcoming introduction of pensions dashboards. As well as connecting to dashboards by their staging deadline, schemes must act on ‘find requests' and ‘view requests' relating to individuals, and provide members...

January 10, 2023

NewsOperations, Technology, UK

09JanJanuary 9, 2023

How world’s biggest funds are preparing for a cash crunch

In a year of disease, war and inflation, one event struck fear into the heads of Australia’s super funds more than any other. That was October’s UK pension crisis which, had it not been for the intervention of the Bank of England, would have rendered many pension funds insolvent. While most Australian super funds would say they think deeply about ensuring they are never caught without enough emergency cash, that episode brought home just how quickly a liquidity crisis can evolve. The...

January 9, 2023

NewsAustralia, Investment, Pension Management, UK

06JanJanuary 6, 2023

UK. Retirement investors rethink plans amid challenging economic climate

Just under half of retirement investors (49.6 per cent) have rethought their retirement plans or strategy in response to the challenging economic climate, research from AJ Bell has revealed. AJ Bell’s customer survey 2022 revealed that 50.4 per cent of respondents stated that the challenging economic climate had not changed their retirement plans or that they were too far away from retirement to be affected. Of those who indicated that their retirement plans had been affected, the most common response was...

January 6, 2023

NewsInvestment, UK

January 2023