FCA Says Too Many Advisers Giving Bad Pension Advice
More than twice as many members were counseled to transfer out of their DB plans than told to stay put.
Tag: UK
UK Workplace Pension Members Saved £90.4 Billion in 2018
Pension participation surged to 18.7 million from 8 million since 2012.
Deficit of UK Defined Benefit Plans Balloons in May
Aggregate deficit of the PPF 7800 increased more than tenfold to £69.9 billion.
UK’s Border to Coast Hires Four Managers for New Global Equity Fund
The $57 billion local authority pension pool eyes starting fixed income, private markets portfolios next.
UK Launches Institute to Help Investors Make Social Impact
Nascent organization is still accepting applications for a chief executive.
UK Academics Demand Inquiry into USS Pension Fund
More than 1,000 professors call for investigation into largest UK private plan’s deficit.
Risk
Rolls-Royce, Legal & General Strike $5.8 Billion Pension Deal
Insurer tops previous record for the largest risk transfer seen in the UK.
UK MPs Call for Parliament’s Pension Fund to Divest Fossil Fuels
Lawmakers demand fund dumps BP, Royal Dutch Shell holdings.
UK Loses Decade of Improving Life Expectancies
Mortality rate at the end of 2019 expected to fall back to 2009 level.
Asset Allocation
UK Pension Funds Now Hold less than 20% in Equities
Report also says accounting rules change could cost FTSE 100 pensions $100 billion.
Corporate Moves
UK’s Largest DB Plan Gets New CEO/CIO
Ex-M&G Prudential head Simon Pilcher will take over the UK’s Universities Superannuation Scheme from Roger Gray.
Regulation
TPR Fines McDonald’s Franchisee Trustee for Breach of Pension Law
Fine of £104,000 largest ever handed out to trustee by UK regulator.
Regulation
CEO Resigns from £17 Billion UK Pension
Susan Martin steps down from LPP as Chris Rule named interim replacement.
UK Issues Guaranteed Minimum Pensions Conversion Guidance
But more may need to be done to achieve clarity.
UK Government Leaves Universities on Their Own to Deal with Increased Public Pension Costs
Opponents call the ruling ‘deeply worrying’ for the future of the country’s higher education institutions.