DB & DeriskingRSS

Members on lower incomes to pay more in NHS pensions overhaul

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The government has announced its intent to overhaul the way in which NHS Pension Scheme members pay contributions from April next year, following the implementation of the McCloud remedy.

Industry calls for more data clarity on pensions dashboards

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The Pensions Dashboards Programme will launch new research into how data will be displayed, after concerns around the ability of schemes to supply estimated retirement income figures were raised by industry in a response to a call for input.

Weekly Roundup: Not so simple statements

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This week – Guy Opperman pledges ‘simple annual benefits statements’, the Government Actuary’s Department agrees with HM Treasury’s cost-control mechanism reforms, most pension schemes falling short on ESG commitments, and BT Pension Scheme deficit improves on back of recovery plan.

Third of judges breach annual allowance as numbers affected triple

News on the go

On the go: More than 1,000 judges breached their annual allowance in the 2020-21 tax year and are now facing significant tax bills.

Experts warn against major pension tax changes this autumn

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The government’s attempts to source billions of pounds in spending by altering pensions taxation are unlikely to be successful, although the Autumn Budget is unlikely to produce major announcements in this area, experts have said.

USS employers call for union co-operation ahead of strike ballot

UCU strike 2019 teaser

Universities UK, the group representing 340 Universities Superannuation Scheme employers, has called on trade unions to co-operate with it as it bids to reform the embattled pension scheme.

Warwickshire County Council hires pensions admin

News on the go

On the go: Warwickshire County Council has hired the West Yorkshire Pension Fund as pensions administration provider for the Warwickshire Firefighters’ Pension Scheme.

Opperman lauds ‘transformational’ climate requirements

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Pensions minister Guy Opperman has lauded the government’s “utterly transformational” approach to climate reporting requirements, while promising legislation on “simpler statements” and the “statements season” in the near future.

Sanofi scheme agrees £760m buy-in with L&G

News on the go

On the go: The £3.1bn Sanofi Pension Scheme has agreed a £760m buy-in with Legal & General Assurance. Separately, the scheme terminated an emerging market manager and replaced it with two new managers during 2020. 

PPF 7800 surplus jumps £25bn in September

News on the go

On the go: The latest update of the PPF 7800 Index shows the aggregate surplus of the 5,318 defined benefit schemes measured jumped by more than £25bn to £108.8bn at the end of September, up from £83.2bn at the end of August.