Managers of Wealth Pensions

TPR issues update on funding proposals

The draft Code will contain firm proposals, with TPR saying "we will certainly take account of COVID-19 when...we develop Fast Track guidelines".

TPR's long-term funding approach 'will put extra financial pressure' on scheme sponsors

This arises because TPR expects all schemes (whether they adopt fast track or bespoke compliance) to reach their long-term target by a fixed date - which will depend on each scheme's maturity.

Uncertainty over impact of extended TPR powers persists

Looking ahead however, the firm found that just 14 per cent of respondents viewed the approach of TPR as the most significant factor in determining how pension schemes of distressed employers will fare in the year ahead.

Govt to scrap flat annual charges on AE pension pots worth £100 or less

The DWP's Review of the Default Fund Charge Cap and Standardised Cost Disclosure was launched in June 2020 and ran through until August, seeking responses from trustees, providers, civil society organisations, scheme members and other stakeholders.

No pension for future university employees over financial crisis

The official said currently, the university was unable to pay pension to retired employees at the beginning of every month and that payment was made in the middle of the month.

U.K. government cuts administration fees for smallest DC pots

The U.K. government found in a 2020 Pension Charges Survey and consultation evidence that DC plans in the U.K. already pay fees below the flat fee, at around 0.48%.

Legacy pensions score win

SMSFA deputy chief executive and director of policy and education Peter Burgess said the change will be appreciated by a minority of SMSFs affected.

TPR powers will not be retrospective, Opperman pledges

“Corporate decision makers should not be in a position of facing new penalties for actions taken in the past”.

Pension pots to be boosted for hundreds of thousands as Tories remove unfair fee

Research suggests that £100 saved in a workplace scheme by an employee aged 22 could be entirely wiped out by fees during their employment career.

European regulators issue Brexit relief for UK pension funds

Some EU watchdogs are not enforcing mandatory clearing for trades between region’s banks and UK pension schemes

Confirmation that new Regulator powers will not be backdated

What is disappointing is that there is no undertaking that the Regulator will provide guidance on the new Contribution Notice tests.

‘No more withdrawals’: premier sticks to pension position

Government had amended the National Pensions Law to allow local workers to make withdrawals from their pension accounts.

‘No more withdrawals’: premier sticks to pension position

Government had amended the National Pensions Law to allow local workers to make withdrawals from their pension accounts.

Public service pensions increase: 2021

Covering note and multiplier tables for public service pensions in 2021.

John McClaughry: Retirement fund blues

The actuaries, looking years into the future, have to make assumptions about numbers of current and future retirees and crucially, the expected returns on the invested funds (now just over $4 billion).

Governments response to expanding the Dormant Assets Scheme

Kate Smith, Head of Pensions at Aegon, comments on the Government’s response to the consultation on expanding the Dormant Assets Scheme*.

MetLife reinsured $2bn of longevity risk for L&G in 2020

The agreements saw Metropolitan Tower Life Insurance Company providing reinsurance to Legal & General to cover the longevity risk associated with roughly $2 billion of combined pension liabilities.

Escaping the Ever Tightening CFD Restrictions? South Africa Doesn't Look so Friendly Anymore - Op Ed

Over fourty years years have passed, and CFD trading remains as instrumental to the British electronic markets structure in the retail sector, with very little to have diminished its progress.

Exclusive: Help & Advice launches free pension scam predictor tool

“Beginning to realise how sophisticated scammers were becoming, and then having investigated the ease of external support that was available, we thought a simple tool, that anyone could use, could be a great sense check before they proceed with a tr

‘Old Mutual, PPC suspension affecting asset value’

Old Mutual and PPC remain suspended from trading on the ZSE.

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