UK Archives - Page 89 of 188 - Pension Policy International

22AugAugust 22, 2022

UK. Liz Truss eyes merger of regulators

Conservative party leadership candidate Liz Truss is eyeing up plans to merge three of the financial regulators, but advisers say her plans are destined to fail. Read also Renewable energy’s charm still growing for investors According to FTAdviser's sister title The Financial Times, Truss will launch an immediate review of the roles and responsibilities of the regulators if she wins her party's leadership election next month. It could see the Financial Conduct Authority, the Prudential Regulation Authority and the Payments Systems Regulator...

August 22, 2022

News2022, Regulation, UK

22AugAugust 22, 2022

Renewable energy’s charm still growing for investors

Amid a just-passed U.S. climate bill unleashing record investment in domestic clean energy, energy transition efforts in the U.K. and Europe well underway and energy security concerns raised by the Ukraine war, institutional investors seem poised for the next level of investing in renewables. "Over the last year alone, we've witnessed the highest levels of interest in renewables we've ever seen from institutional investors," said Matt Setchell, co-head of Octopus Energy Generation's fund management team in London. Part of Octopus...

August 22, 2022

News2022, ESG, Investing, UK, US

18AugAugust 18, 2022

UK. 80% of employers think it is important pensions are invested responsibly

Aviva’s Working Lives Report 2022: The Big Squeeze(1) has found four out of five (80%) employers compared to 65% of employees think it is important that a workplace pension fund is invested responsibly. The research also found a further 19% of employees said responsible investment(2) is important but only as long as it does not impact the performance of their funds. However, over half (55%) of employees do not know if their workplace pension fund is invested responsibly. Just over...

August 18, 2022

News2022, Investment, UK

17AugAugust 17, 2022

UK. Transfer volumes could hit £600bn as insurers post strong results

A host of insurers have revealed their first-half 2022 results that show a booming trade in risk transfers, which, by some projections, could hit £600bn over the next decade — though there are fears about a capacity crunch in the sector. Read more Older people face losing €1,532 in spending power by end of year Of those that have released their results so far, Aviva saw bulk annuity sales increase by 15 per cent, rising to £1.9bn, which compares with £1.6bn...

August 17, 2022

News2022, Pension Management, Risk, UK

16AugAugust 16, 2022

UK. Govt to change civil servants’ early pensions access

The government has proposed to change the rules around early access to pensions in the civil service, tracking 10 years behind state pension age, according to a new consultation over reforms to the Civil Service Compensation Scheme. The Cabinet Office had launched a consultation to this effect in 2017, but on August 15 it published a new document with updated proposals to be discussed with trade unions as it considered that a long time has elapsed since the initial consultation,...

August 16, 2022

News2022, Public Pensions, Regulation, UK

15AugAugust 15, 2022

UK. New DB funding rules risk forcing schemes into ‘straitjacket’

New funding rules for defined benefit (DB) pension schemes risk forcing all schemes into a ‘one-size-fits-all straitjacket’, leading to potential employer insolvencies in some cases, LCP has warned. In July, the Department for Work and Pensions (DWP) published its consultation on new regulations for DB scheme funding, whereby schemes would be required to have long-term plans set out in a funding and investment strategy. Schemes will be required to reach a funding level where no additional funding is expected to be...

August 15, 2022

News2022, Defined Benefit, UK

12AugAugust 12, 2022

U.K. pension regulator calling on plan sponsors to support pension scam prevention strategy

The Pension Regulator, the U.K. government body that oversees defined benefit pension plans, is calling on plan sponsors to help advance a three-pronged strategy to fight pension fraud. “Over many years, we have worked to prevent savers’ losses and put fraudsters in prison: running large-scale public awareness campaigns, leading a multi-agency response to the threat through [the pension scams action group]. . . . But the truth is, we must all do more to combat pension scams,” said Nicola Parish,...

August 12, 2022

News2022, Regulation, UK

11AugAugust 11, 2022

More than 13,000 sign petition calling for guaranteed £200-a-week UK pension

More than 13,000 people have signed a petition demanding a guaranteed pension of £200-a-week in the UK. A group of pensioners is calling for the weekly rate to go up in light of the cost of living crisis The Silver Voices group, which successfully fought for free TV licences for the over-75s, wants the Government to set a new floor for the amount OAPs receive. It comes as households are engulfed by soaring energy costs, runaway inflation and food price...

August 11, 2022

News2022, Income, UK

11AugAugust 11, 2022

UK. TPR advises employers to shield schemes from refinancing costs

Companies and pension scheme trustees should take steps to protect their schemes and their employer covenant from the fallout of any refinancing that they have undertaken, according to David Fairs, the Pensions Regulator’s executive director of regulatory policy, analysis and advice. In a blog published on August 10, Fairs acknowledged the trend of employers seeking to boost their liquidity in the aftermath of the coronavirus pandemic. This, he noted, would include the agreement of new borrowing facilities, or extension of...

August 11, 2022

News2022, Occupational Pensions, Regulation, UK

10AugAugust 10, 2022

UK. Pensions: More than 1 million workers not participating in workplace scheme

Around a fifth of workers at small medium sized (SMEs) enterprises that are eligible for a workplace pension are not participating in schemes, a new research shows. Analysis of the Department for Work and Pensions (DWP) data from Broadstone found nearly 1.2 million SME employees could be falling through the "pension accumulation gap". Read also U.K. pension regulator calling on plan sponsors to support pension scam prevention strategy It also found pension participation is "stalling" at SMEs, warning employers at these companies to...

August 10, 2022

News2022, Occupational Pensions, savings, UK

August 2022