July 2020
03Jul

UK. Pension funds covering £3trn pressured on fossil fuel investments and net-zero alignment

Called ‘Make My Money Matter’, the campaign’s overarching ambition is to fundamentally shift the way in which the UK’s £3trn pension pot is invested, uniting consumers, employers and policy to do so. Through a string of communications campaigns and events, the campaign will urge employers to align their pension with their missions and values, equipping staff with advice on engaging their employer, and executives with tools to measure whether their pension funds have a positive impact on the environment...

July 3, 2020
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02Jul

UK DB Pension Schemes Lose up to £250m a Year Due to Use of Less Tax-efficient Funds, Research by AMX and Northern Trust Reveals

UK defined benefit (DB) pension schemes are losing out on over £250m of additional income per year in their global equity portfolios because they are investing via less tax-efficient fund structures than those available, according to new research from The Asset Management Exchange (AMX) and Northern Trust (Nasdaq: NTRS), conducted by Broadridge Financial Solutions. Read also UK. £127bn transferred out of workplace schemes since 2015 – ONS UK pension schemes, as tax-exempt investors, are entitled to apply for reclaims or...

July 2, 2020
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01Jul

Swiss government outlines framework for sustainable finance

Unveiling a report on sustainable finance on Friday, Finance Minister Ueli Maurer said legislators would stay in the background as a last resort measure. However, the report identified a number of criteria it would monitor and called for improvements in some areas. Banks, pension funds, insurers and asset managers are expected to step up efforts to make sure customers get full disclosure of relevant information on their investments and to better calculate the financial consequences of harmful activities. A...

July 1, 2020
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June 2020

30Jun

UK. £127bn transferred out of workplace schemes since 2015 – ONS

Around £127bn has been transferred out of UK funded occupational pension schemes since 2015, with £36.9bn-worth of transfers out in 2017 alone, according to figures from the Office for National Statistics (ONS). The government body’s Financial Survey of Pension Schemes found that transfers in to occupational schemes bounced back the following year, rising from £2.2bn in 2017 to £9.6bn in 2018, driven by a sharp rise on transfers into defined contribution (DC) schemes, which made up £3.8bn, or 40...

June 30, 2020
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30Jun

Dutch schemes fail to push management fees below 0.5% threshold

Large Dutch pension funds have not been able to push their investment management fees to below the 0.5% threshold, even though their assets under management increased by 28% in the past five years. Consultancy LCP looked at total management fees as a percentage of total assets for the seven largest occupational funds – ABP, PFZW, PMT, PME, BpfBouw, Vervoer and PGB – and three large company pension funds (Philips, Rabobank and Shell). Together, these funds administer two thirds of all...

June 30, 2020
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30Jun

UK. Regulator to focus on protecting savers amid Covid

The Pensions Regulator has said it will prioritise protecting savers during the coronavirus pandemic, as well as schemes continue to deliver benefits. The regulator's corporate plan for 2020-21, published this morning (June 29), sets out how it will continue to address the risks to the savers through regulatory interventions and scheme supervision. It also highlights the regulator’s determination to continue to fight against pension scams by taking action against fraudsters and working with other key industry organisations to...

June 30, 2020
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26Jun

UK. Key workers being targeted by pension transfer scammers – APJ

There has been an uptick in the number of key workers being targeted by scammers to transfer their pensions into high-risk self-invested personal pensions (Sipps), APJ Solicitors has said. The law firm revealed that is has been contacted by an increased number of NHS staff and other key workers who have been convinced to transfer their pensions and lose thousands of pounds in the process. It noted that the NHS defined benefit (DB) scheme is “one of the best...

June 26, 2020
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23Jun

European Parliament Approves CRR “Quick Fix” to Mitigate Economic Consequences of COVID-19

The measures grant relief for EU banks to enhance bank lending to companies and households. Read also Pension funds expect more focused passive approach On 18 June 2020, the European Parliament approved the so-called CRR “quick fix” to Regulation (EU) 575/2013 (Capital Requirement Regulation (CRR)) and Regulation 2019/876 (Capital Requirement Regulation 2 (CRR2)) to mitigate the economic consequences of COVID-19. The temporary measures are, inter alia, intended to enhance credit flows to companies and households, thereby supporting the EU’s economy....

June 23, 2020
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23Jun

UK. Long-awaited pensions dashboard enters next phase

The Money and Pension Service (MaPS) has announced that the Pensions Dashboard Programme (PDP) has moved into the next stage of the building process. The new platform will enable people to view all their pensions in one place, with the PDP having the responsibility to design and implement the new technology. Today marks the start of six weeks of “informal market engagement” which will enable the PDP to evaluate the efficiency and capacity of potential firms who could supply...

June 23, 2020
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22Jun

Norway’s Ageing Population Problem

Right now, the biggest problem faced by Norway is the necessary transition away from the oil and gas industry. The country's economy has been fuelled by the deposits under the Norwegian continental shelf for decades. With reservoirs running dry, the economy needs to diversify. But with investment in modern technologies such as electric battery and charging infrastructure, offshore wind, and autonomous shipping, Norway's government does at least have a plan. The same can't be said, yet, for the problem...

June 22, 2020
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