10/23/2020
Regulator issues guidance on £170bn pension ‘superfunds’
TPR said it continues to assess existing superfunds against the expectations set out in its interim regime
Legal,Regulation & Compliance
10/23/2020
Singapore CPF pension top-ups jump despite 16-year high jobless rate
The CPF deems it “encouraging” that members are adding to their retirement accounts even through the pandemic, according to Tan Chui Leng, group director of the fund’s retirement income group.
10/23/2020
Pension costs review for Northern Ireland Water
GAD has carried out a pensions cost review, to help the Northern Ireland Utilities Regulator decide if it needs to adjust the pensions costs requested by the water provider.
10/23/2020
White House orders review of Delphi pension fund termination
One group of salaried plan participants sued unsuccessfully to challenge the PBGC’s takeover of the plan, which at the time of termination in 2009 had $2.5 billion in assets and $4.5 billion in liabilities.
10/23/2020
Gad supports NI Utility Regulator in review of NIW pension costs
The report was published within the Utility Regulator’s consultation on a draft determination, which will close to responses on 16 December 2020.
10/23/2020
Canada ranked in world’s top 10 pension systems
There is always room for improvement, however
10/22/2020
UK pensions lifetime allowance set to increase by 0.5%
And government expected to keep triple lock promise with 2.5% rise in 2021/22
10/22/2020
Regulator’s superfunds guidance brings pensions shake-up closer
The government said in June that it would authorise superfunds after a two-year battle to get the schemes off the ground.
10/22/2020
Brexit Business Brief | What happens to EU law at the end of the transition period?
At the same moment, the case law of the Court of Justice of the European Union decided before the end of the transition period will acquire broadly the same status as that of the UK Supreme Court.
10/22/2020
Pension “buy-back restriction” for part-time employees violates Charter
Plan administrators should consult with their legal advisors.
10/21/2020
Sipp charges cost adviser
The adviser also said Mr H would have access to a wealth management portfolio service through the Sipp provider but in turn would face higher costs.
10/21/2020
Govt seeks to overturn Pension Schemes Bill amendment defeats
It also took out the amendment excluding facilities for engaging in financial transaction activities on dashboards.
10/21/2020
TPR publish new guidance on DB pension superfunds
Trustees and employers must carefully consider their options and TPR’s new guidance will help them understand and meet the regulator’s expectations in considering a transfer.
10/21/2020
State pension to rise 2.5% with triple lock in 2021/22; lifetime allowance up 0.5%
2.5% widely expected
10/21/2020
DB superfunds must reach ‘high bar’ to receive TPR endorsement
After superfunds have been found to meet TPR guidelines and expectations, the regulator intends to continue supervising them to ensure that they “demonstrate the ongoing application of our guidance and other regulatory requirements”.
10/21/2020
Pinsent Masons advises Just Group on its £340m buy-in deal with the Ibstock Pension Scheme
Since entering the defined benefits de-risking market in 2012, Just has written over £7.5bn of premiums to secure the benefits of over 30,000 members, with Pinsent Masons acting on many of the transactions.
10/20/2020
Expats to be hit with additional pension access charges post-Brexit
The organisation also noted that providers are on high alert regarding overseas pension scams and may refuse to transfer a pension abroad or take up to six months to complete the necessary due diligence to release the funds.
10/20/2020
Updated annual pension statement to exclude cost and charges info
Boohoo shares sink after the U.K. fast-fashion retailer caught up in a labor scandal says it’s seeking a new auditor — Bloomberg Markets
10/20/2020
Simple statements boost for pension planning
Convoluted pension statements are set to be a thing of the past as the Pensions Minister today unveils innovative plans for simple, annual pension statements
10/20/2020
Punter Southall launches DB scheme consolidator called Stoneport Pensions
Stoneport chief executive Richard Jones said: "Despite the best intentions of regulation to protect members' retirements, this alone cannot address the fundamental issues with the DB market."