Pensions Expert

Pensions Expert is a dedicated publication based in the United Kingdom that focuses on the workplace pensions sector. It is produced by the Financial Times and has been in circulation since January 1997.

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Government urged to strengthen low-earner protections in Pension Schemes Bill

1 week ago | pensions-expert.com | Sara Benwell

The Pension Schemes Bill should be amended to include key protections for low- and middle-income workers, according to the Financial Fairness Trust. The foundation has called for key amendments to be made to the government’s Pension Schemes Bill, which was published earlier this month. In a new paper, Andrew Harrop – policy adviser at the Financial Fairness Trust – welcomed the bill’s intent but warned of shortcomings in its current form.
Clara takes on church scheme in ‘connected covenant’ first

1 week ago | pensions-expert.com | Nick Reeve

The £55m Church Mission Society Pension Scheme has transferred to defined benefit (DB) superfund Clara in a “connected covenant” transaction. The deal will see all 730 members of the DB pension scheme transfer to Clara along with the asset portfolio. However, unlike the consolidator’s previous transactions, the Church Mission Society has retained a “continuing contingent guarantee”, adding an extra layer of security for the pension scheme.
Mirror Group pension scheme secures £150m buy-in with Just

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

Credit: Claudio Divizia/Shutterstock The MGN Pension Scheme – which was raided by Robert Maxwell in the 1980s – has secured a £150m buy-in covering 1,300 of its pensioner members. The buy-in was provided by Just Group and completed in November. According to a press release from the insurer, the deal has been structured to make it easier for future buy-ins to be transacted.
TPR chief calls for industry to address ‘unfinished business’ on pension reform

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

The pensions industry has “unfinished business” on delivering adequate retirement incomes and must embrace the changes brought by the Pension Schemes Bill, the Pensions Regulator (TPR) has said. Nausicaa Delfas, chief executive officer at TPR, wrote in a blog published today that the pensions sector needed to “really raise its game” to meet the challenges ahead.
Spending Review: Boost for British Business Bank as schemes eye UK opportunities

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

The government has set out major spending plans that pension schemes hope could set the ball rolling for increased domestic investment opportunities. In the Spending Review, presented to parliament today (11 June), chancellor Rachel Reeves announced an expansion of the British Business Bank’s financial capacity to £25.6bn.
Nest to tap into bulk annuity market to support post-retirement proposition

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

Nest, the UK’s biggest defined contribution (DC) master trust, plans to enter the bulk annuity market as part of its new post-retirement proposition. The £49bn pension fund is developing options for its members to aid their decision-making before, at, and post-retirement, as well as catering for those unable to make a choice. This will include the addition of a flexible drawdown facility – something Nest has been lobbying for over the past few years.
TPT unveils ‘groundbreaking’ retirement income offering

2 weeks ago | pensions-expert.com | Aamina Zafar

TPT Retirement Solutions has launched a new post-retirement offering for its defined contribution (DC) master trust members, as the government prepares to legislate for default decumulation services. The “income for life” product – described by TPT as “first of its kind” – will allow members to convert their pension pots into a sustainable, inflation-linked income.
Adequacy is top of the industry’s agenda after Pension Schemes Bill published

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

The past fortnight has brought two of the most anticipated pensions-related publications in recent memory, in the form of the final report from the Pensions Investment Review and the 114-page Pension Schemes Bill. But with all the noises surrounding the consolidation of defined contribution (DC) pension schemes and defined benefit surplus release rules, there remains a rumbling of discontent around the industry that the government is yet to properly act on improving pension adequacy.
Employers risk fines amid struggle to comply with auto-enrolment

2 weeks ago | pensions-expert.com | Aamina Zafar

Businesses risk non-compliance and fines after research found that just over half of employers are confident their pension scheme complies with automatic enrolment regulations. Analysis from Towergate Employee Benefits, published last week, found that 57% of employers were “very confident” that their pension scheme was compliant with auto-enrolment requirements, such as minimum contribution levels and re-enrolment every three years.
Welsh pension capital deployed in new housing and infrastructure schemes

2 weeks ago | pensions-expert.com | Sara Benwell

Pension schemes in Wales have backed new investment opportunities as pressure mounts on local authority schemes to channel more money into local investments. In Swansea, a £51m social infrastructure fund has been launched by Newcore Capital in partnership with the City and County of Swansea Pension Fund - a constituent member of the Wales Pension Partnership, one of the Local Government Pension Scheme (LGPS) asset pools.