UK Archives - Page 32 of 155 - Pension Policy International

22SepSeptember 22, 2023

The Future of Global Retirement

By Andrew Evans & Will Wynne Smart is a world-leading retirement technology provider. Our mission is to transform retirement, savings and financial wellbeing, across all generations, around the world. Launched in 2015, our technology platform – Keystone – serves the needs of retirement savers globally, and we are now active on four continents. Keystone is specifically designed to help governments and financial services organisations to serve their citizens' and customers' retirement saving and spending needs. Smart’s team of engineers, researchers and user...

September 22, 2023

Books, Books, Reports, Savings2023, Australia, Investment, Pension Management, savings, South Africa, UK, US

22SepSeptember 22, 2023

A year after budget crisis, UK debt faces fresh pensions headwind

Britain's pensions industry, Europe's biggest, is posing a new challenge to the country's 2 trillion pound ($2.5 trillion) government bond market a year on from the "mini-budget" crisis that put the sector at the centre of financial stability fears. Pension funds are big buyers of UK debt, known as gilts, but they are likely to step back just as the Bank of England (BoE) reduces its own holdings faster and debt issuance remains high, adding pressure on British borrowing costs. Benefiting...

September 22, 2023

NewsPension Management, UK

21SepSeptember 21, 2023

Higher fees for inclusion of ESG and private markets a ‘real barrier’ for DC schemes

The higher charges for incorporating environmental, social and governance (ESG) and private market investments is a “real barrier” for defined contribution (DC) schemes, which are reluctant to reverse the fall in charges seen over the past decade, according to WTW.The consultancy’s latest DC Pensions and Savings report found that average charges for DC schemes in the UK had fallen by 20 per cent, from 41 basis points in 2014 to 33 basis points in 2023.It noted that this was...

September 21, 2023

NewsDefined Contribution, ESG, Pension Management, UK

20SepSeptember 20, 2023

UK: Buying A Distressed Business With A Defined Benefit Pension Scheme

Alexandra Wood, Devi Shah and Andrew Block discuss the additional complexities which a PE firm will face when acquiring a distressed business with a defined benefit occupational pension scheme, in light of the protections afforded by both the UK legislative framework and the role and support of the Pensions Regulator. Mayer Brown is a global services provider comprising associated legal practices that are separate entities, including Mayer Brown LLP (Illinois, USA), Mayer Brown International LLP (England & Wales), Mayer Brown...

September 20, 2023

NewsDefined Benefit, Occupational Pensions, Regulation, UK

19SepSeptember 19, 2023

Brits calling for state pensions to be raised to £416 a week for every person over 60

Brits are calling for state pensions to be raised to £416 a week in line with the National Minimum Wage after previous efforts failed. A new petition has been set up calling on ministers to increase the allowance to more than double the current figure, despite a previous one which racked up more than 36,000 signatures being rejected by the DWP. The latest calls are being made by Michael Thompson, who is also demanding the UK pension age is lowered...

September 19, 2023

NewsIncome, State Pensions, UK

19SepSeptember 19, 2023

UK. Systemic risks’ in pension schemes’ inflation hedging – SPP

There are systemic risks with defined benefit (DB) pension schemes’ inflation hedging, the Society of Pension Professionals (SPP) has warned in its latest research.According to its Vision 2023 report, the inflation hedge of a DB scheme is imperfect because a Retail Prices Index (RPI) asset is used to hedge an inflation-linked liability, where the inflation linkage of the latter is limited by caps and floors. “This means the amount of index-linked gilt exposure needed will change as inflation levels...

September 19, 2023

NewsInflation, Risk, UK

18SepSeptember 18, 2023

UK: Pensions Regulator Updates DC Schemes Guidance On Illiquid Assets Disclosure

The guidance has been updated to help DC pension schemes comply with new regulations designed to ensure they consider all the investment opportunities available to achieve best value for savers. On the first occasion when the SIP is updated after October 1, 2023, trustees will have to state their policy on investing in illiquid assets in the default SIP. They will also be required to disclose the asset class breakdown for each of their scheme's default arrangements in the Chair's...

September 18, 2023

NewsRegulation, UK

14SepSeptember 14, 2023

UK. TPR to ‘work more closely’ with pension administrators

The Pensions Regulator (TPR) has said it is planning to "work more closely" with third-party administrators (TPAs) and has updated on recent progress in a blog published today (13 September). The blog, written by TPR interim head of relationship supervision Cliodhna Judge, outlined how a recent pilot project on an ‘administrator relationships' function has led to better engagement with TPAs. The project, which has been running since early 2022, involved working with a voluntary administrator to "explore potential risk areas", and...

September 14, 2023

News, UncategorizedPension Management, Regulation, supervision, UK

13SepSeptember 13, 2023

UK. Sunak tells PMQs he is ‘committed’ to pensions triple lock

Criticised over the state's pension policy, the PM says the government is committed to the triple lock He did not specify that this would extend beyond the next general election It follows Commons questions about maintaining the state pension triple lock beyond the next general election Labour leader Sir Keir Starmer asks the PM why Wandsworth escapee Daniel Khalife was not held in a category A prison The PM says such escapes are "extremely rare" and confirms an...

September 13, 2023

NewsAdequacy, Inflation, UK

12SepSeptember 12, 2023

UK. Pensions: Women get 35% less than men due to care responsibilities

Women's private pension funds are 35% lower than men's, according to the UK government's official estimates. Private pensions consist of workplace schemes or personal pensions set up by individuals using independent companies. Taking time off or going part-time means paying less into pensions during your working life. A charity said employers should do more to support women with caring responsibilities. Rowan Davies, 34, from Cardiff, is currently on maternity leave while caring for her five-month-old son Mabon. She said she was "very aware" of...

September 12, 2023

NewsEquality, Gender Gap, UK

September 2023