Company directors could face fines or jail time for flouting pension rules June 26, 2018 Unscrupulous directors who play fast and loose with their company pension scheme could face time in prison and unlimited fines under new measures tabled by the government today. A consultation was launched today by minister for pensions and financial inclusion guy Opperman which will impose harsher penalties for directors who deliberately or recklessly put funds [...]
Willis Towers Watson completes £85m buy-in deal for Aliaxis Defined Benefit Pension Scheme June 21, 2018 London-based insurer Willis Towers Watson today announced that it had agreed a buy-in deal for £85m of the Aliaxis UK Defined Benefit Pension Scheme with Just Group. The payments were completed in two tranches, split between a £35m sum in November 2016, and a £50m payment last December. The deal covers 350 of the scheme's [...]
CPPIB becomes world’s first pension fund to issue green bonds June 12, 2018 Green bonds will be issued by a pension fund in a world first for the sector. The Canada Pension Plan Investment Board (CPPIB) will become the first pension fund to increase its holdings in renewables and energy efficient buildings. CPPIB, which handles a total of $356.1bn assets, says the sale will put more than C$3bn [...]
Half of all UK workers won’t have enough money to retire at state pension age October 27, 2017 Half of workers in the UK won’t have enough money to retire when they reach state pension age, according to research by Age UK. The survey of nearly 1,000 over-40s, found nearly 8m people aged 40 to 64 will not be able to retire when they hit state pension age, which currently stands at 65. [...]
GKN considers debt raise in order to manage £2bn pension shortfall March 19, 2017 Engineering group GKN is preparing to go to debt markets to raise £200m in an attempt to placate the trustees of its pension scheme, according to reports. The FTSE 100 group is in the middle of a three-yearly review of its pension scheme with 2016 accounting valuations revealing its deficit had swelled by £475m over the last 12 months to [...]
Pension deficits spike £46bn in February with experts warning of more volatility during Brexit negotiations March 14, 2017 The ability of Britain's firm's to manage spiralling pension liabilities is being hampered by the UK's exit from the EU, experts have warned. Pensions lifeboat, the Pension Protection Fund (PPF) today revealed the aggregate deficit of UK companies had grown at a rate of more than £1.6bn per day during February. Although deficits have retreated from all-time [...]
Britain’s savings have undergone a “radical change” under the Conservative government says the IFS March 14, 2017 The savings landscape in the UK has undergone a “radical change” under the Conservative government as incentives push people towards individual savings accounts (Isas) rather than pensions, according to an influential economics think tank. Paul Johnson, director of the Institute for Fiscal Studies (IFS), said: “We’ve had quite a radical change in the shape of [...]
Behavioural insights on financial advice March 14, 2017 | City Talk Saving and investing decisions are often made from opposite sides of the financial services spectrum. Advisers have the difficult job of building trust and bridging the two sides and their diverse demands. Matching the needs of retail savers with investment returns provided by users of capital is not easy as the two opposing sides — [...]
JRP Group share price jumped after posting better than expected annual results despite a soft new business market March 10, 2017 The boss of retirement specialist JRP Group today urged the market to "get its act together" to help Britain's over-55's release £2 trillion of assets that could better fund their retirement. After announcing results JRP said it was "truly proud of", shares in the FTSE 250 leapt over six per cent in early trading. The figures [...]
Budget 2017: Four things pensions experts have had to say about the Budget March 8, 2017 Former chancellor George Osborne will be remembered for monkeying around with pensions, in particular for ushering in pensions freedoms that were announced in 2014 implemented the following year. Philip Hammond didn't do too much on pensions in his Autumn Statement in November. So what was he up to today? 1 – Quiet day Beancounters EY [...]