Nick Reeve

3 days ago | pensions-expert.com | Nick Reeve

Credit: William Barton/Shutterstock Defined benefit (DB) pension schemes will be able to obtain retrospective sign-off on historic actuarial amendments under legislation planned by the government. The Department for Work and Pensions (DWP) announced today that it will introduce legislation to address issues that have emerged following the 2023 and 2024 rulings in the Virgin Media v NTL Pension Trustees case.

4 days ago | pensions-expert.com | Nick Reeve

The Pensions Regulator (TPR) has allowed the trustees of the Littlewoods Pension Scheme to modify rules and free up surplus funds for payment to the scheme’s sponsoring employer. It is only the second time the regulator has granted a trustee board a “modification order” to amend scheme rules and avoid a surplus becoming “trapped” when the trustees are winding up the pension scheme.

2 weeks ago | pensions-expert.com | Nick Reeve

The government has confirmed plans to free up billions of pounds from defined benefit (DB) surpluses, with legislation to be introduced through the Pension Schemes Bill. In an announcement today (21 May), the government cited figures from the Pensions Regulator and the Pension Protection Fund (PPF) indicating record levels of surplus funding in DB schemes. It also confirmed that the rules would form part of the Pension Schemes Bill, expected to be introduced in parliament in the coming weeks.

3 weeks ago | pensions-expert.com | Nick Reeve

The Local Government Pension Scheme’s (LGPS) Scheme Advisory Board has penned a letter to pensions minister Torsten Bell requesting more time to implement the government’s requested changes to asset pooling. The board’s chair, Roger Phillips, said in the letter that the LGPS would be “doing a disservice to our seven million members” if it did not make an “urgent request” for an extension to the March 2026 deadline.

3 weeks ago | pensions-expert.com | Nick Reeve

This week’s announcement by a consortium of pension providers of an intention to increase domestic investment has been met with caution by pensions and investment experts. The Mansion House Accord – an extension of the 2023 Mansion House Compact – will see 17 defined contribution (DC) pension schemes and providers investing an additional £25bn in UK private markets by 2030.