British Court Sides with TPR to Compel Company to Bolster Pension Plan
Upper Tribunal approves regulator’s power to require parent ITV to aid failed subsidiary Box Clever’s pension.
Tag: UK
High Court Ruling Fails to Settle Overpayment Recovery Issue
Decision offers some clarity, but adds confusion for pension trustees collecting overpayments.
UK Pension Funding Level Rises 2% in April to 95.1%
Aggregate funded level of 5,588 pensions increased 5.6% over the past 12 months.
Risk
Church Commissioners Slides in 2017, but Still Returns Strong Results
Church pension prepares for lower future returns, more volatility, and higher interest rates.
TPR Unveils ‘Tougher Approach’ to Pension Regulation
Regulator releases three-year plan to improve UK pension standards.
Regulation
Rolls-Royce Reaches Pension Deal with Unions
DB plan to stay open until 2024 as contributions are increased for DC plan members.
UK Workplace Pension Participation Surges to Record High
Auto enrollment helps portion of workers with pensions rise to 73% from 47% in five years.
TPR to Seize Assets of Employers Ignoring Pension Fines
High Court enforcement officers will be used to force delinquent companies to pay up.
Tax Collected from Lifetime Pension Allowance Soars 1000%
Government windfall rises to £110 million from £10 million in 10 years.
European Commission Says More Needs to Be Done to Ensure Adequate Pensions
Report cites progress made, but says more work needed on closing gender gap.
Pensions Regulator in Talks with Sainsbury’s over Asda Merger
Sainsbury CEO says proposed £7.3 billion merger ‘strengthens’ pension covenant.
UK Corporate Pension Funding Levels Nearing 100%
Consultant JLT suggests plans de-risk following monetary policy discussions, regulator warnings.
UK Report Finds £29,000 State Pension Gender Gap
Men receive an average of £153.86 a week, compared to £125.98 for women
Newsmakers
Royal Bank of Scotland to Make $5 Billion in Pension Contributions
CFO calls decision an ‘an important milestone.’
Report: 38% of UK Workers Can’t Afford Pensions
Survey also finds 16% will opt out due to recent mandatory contribution increases.