UK Archives - Page 94 of 189 - Pension Policy International

14JunJune 14, 2022

UK. TPR’s new DB funding code expected in September 2023

The Pensions Regulator expects its much-anticipated new defined benefit funding code to be in place and operational by September 2023, according to its latest corporate plan. In the document published on June 13, the regulator explained that the delay in the new funding rules, and in its second consultation on the matter, has allowed it to take the time it needs “to develop the right shape for our DB funding code”, while wanting to take the “opportunity to learn from...

June 14, 2022

News2022, CDC, Regulation, UK

13JunJune 13, 2022

Pension investors launch campaign against dual-class share structures

Leading UK and U.S. pension investors managing more than $1 trillion have launched a campaign to stop companies using dual-class share structures that concentrate voting power in the hands of certain shareholders at the expense of others. Launched by British railways pensions scheme Railpen and the non-profit Council of Institutional Investors (CII), others backing the Investor Coalition for Equal Votes (ICEV) include the New York City Comptroller's Office and the Washington State Investment Board. Companies with dual-class structures have two or...

June 13, 2022

News2022, Corporate Governance, Investment, UK, US

13JunJune 13, 2022

UK. FCA: Technology is both a risk and an opportunity

The Financial Conduct Authority’s chief data, information and intelligence officer Jessica Rusu has said technology can be “a force for good” but comes with many risks. Speaking at the Money 2020 Amsterdam event last week (June 8), Rusu explained that the increase in firms suffering from cyber-attacks demonstrates the risks that arise through innovation. “Looking through the lens of a regulator, having spent many years in big tech, fintech and traditional banking roles – I see that innovation and the role...

June 13, 2022

News2022, Technology, UK

10JunJune 10, 2022

The Gender Pensions Gap Report 2022 … and how to close it

By Joanne Segars OBE & Samantha Gould Lower incomes throughout a woman’s working life will invariably impact their pension savings, creating an obvious pension gap. Furthermore, women who take time away from work to have children or for other caring responsibilities contribute to the widening gulf that we see between men and women’s pension wealth. Three million women are effectively “locked out” of workplace pension saving because they do not meet the £10,000 auto enrolment eligibility criteria. We are on a mission...

June 10, 2022

Books, Labor Market, Reports, System Characterization2022, Equality, Gender Gap, UK

10JunJune 10, 2022

UK. BMW disputes inclusion on Make My Money Matter net zero target list

BMW has contested its inclusion on a list of the UK’s 20 largest pension schemes to have allegedly not set net zero targets. The roster, compiled by Make My Money Matter, covers schemes with more than £200bn of assets under management, the campaign said. “Investments this size potentially enable 24mn tonnes of carbon to enter our atmosphere every year,” it claimed. The campaign said that it has been contacting the schemes for a year. They are a mix of corporate and...

June 10, 2022

News2022, Climate crisis, Corporate Governance, UK

09JunJune 9, 2022

Investment Choice in Collectivised Pensions

By John Armstrong & Cristin Buescu Investment choice is a central theme of UK pension policy. This paper shows how a collective pension fund can be managed in a manner that allows individuals to choose how their pension is invested and their schedule of pension payments. The potential benefit to investors of such a fund is quantified on the assumption that they choose to invest optimally. For our indicative choice of individual we find that they would need to invest...

June 9, 2022

Articles, Investment2022, CDC, Pension design, UK

09JunJune 9, 2022

UK. TPR to finalise CDC code by 1 August; work to tackle pension scams continues

The Pensions Regulator (TPR) has confirmed that it is on track to finalise the collective defined contribution (CDC) code of practice by 1 August 2022, while further work on the issue of pension scams will be published "in due course". Speaking at the Pensions Age Northern Conference 2022, TPR lead investment consultant, Fred Berry, confirmed that TPR has been analysing industry feedback following its consultation on the draft code of practice earlier this year. Industry experts previously urged TPR to publish...

June 9, 2022

News2022, Regulation, UK

08JunJune 8, 2022

UK. Women Need Extra 18 Years of Work to Equal Pension Savings as Male Peers, Survey Finds

Women would need to work an additional 18 years full-time to save the same amounts of money into their pensions as men, research suggests. Women aged 65 will typically have accumulated £69,000 in private pension wealth, compared with average men's savings of £205,800, according to workplace pension provider Now: Pensions and the Pensions Policy Institute (PPI). With women living on average four years longer than men, they need to save more throughout their lifetime to accommodate longer periods in retirement, the...

June 8, 2022

News2022, Gender Gap, Pension design, savings, UK

07JunJune 7, 2022

UK. Work and Pensions Committee to question Pensions Regulator, FCA, MaPS and former pensions ministers

The Work and Pensions Committee will question former pensions ministers and representatives from the Pensions Regulator, Financial Conduct Authority (FCA) and Money and Pensions Service (MaPS) as part of its inquiry into saving for later life. The inquiry is examining whether households have adequate pension savings for retirement and how the Government can improve outcomes for savers. Purpose of the session The first panel will feature former ministers Sir Steve Webb and Baroness Ros Altmann along with Baroness Jeannie Drake, a former member of the...

June 7, 2022

News2022, Regulation, savings, UK

06JunJune 6, 2022

UK. Pension policy dissatisfaction rises; majority sceptical of triple lock future

Over three quarters (81 per cent) of pension professionals are sceptical about the future of the state pension triple lock and doubt it will exist in its current form in five years’ time, according to the latest Pensions Management Institute (PMI) Pulse survey. The research also revealed a broader dissatisfaction over the handling of pensions policy, as fewer than half (49 per cent) of pension professionals were satisfied with its direction over the past six months, marking a 12 percentage...

June 6, 2022

News2022, Regulation, UK

June 2022