From thought leadership to technical pieces, knowledge hub keeps our members and pensions professionals up to date with the recent developments in the industry.
Marriage matters to Defined Benefit (DB) pension schemes. This is because typically they pay survivor pensions to the spouse, or qualifying dependant, of members after they have died. To value these pensions, schemes need to know (a) what proportion of members have an eligible dependant and (b) the age difference between members and their dependants (since younger dependants are likely to live longer).
Everything’s relative. Back in 2014, when a surprise budget gave us the ‘overnight transformation’ of the pension industry, we thought we’d seen the ultimate shock to the system. From the 2020 vantage point, 2014’s ‘biggest shake up in a century’ looks like a long, slow and well-planned walk in an entirely predictable park. Now, we’re looking at actual overnight transformation - necessity has driven the world online on a massively accelerated timetable and cyber attacks are running a close second to COVID-19 in the global headlines.
Pension scheme consolidation has been on the government’s agenda for a while now, and the Pensions Regulator has said that people saving for their retirement are better served by big schemes than by small ones. The Regulator feels that larger schemes can benefit from economies of scale, more effective and efficient investment strategies and improved governance.
Transfers from Defined Benefit (DB) pension schemes are an emotive topic at the best of times. In these uncertain times, the focus on them is bound to increase. We have already heard anecdotal evidence of an increase in interest in transfers, driven by members who have concerns about their jobs and the ongoing viability of their employers, and who are thinking of a transfer as a potential way to access more income if needed.
Research published last year by The Pensions Regulator (TPR) showed that a quarter of pension schemes had less than half of the recommended controls in place to protect their data and assets from cyber risk. Are pension schemes behind the curve when it comes to managing cyber security risks, and what steps can they take to improve?
This issue includes topics on appointing financial advisers, an Aptitude for professional trusteeship, shifting the landscape of the UK pensions marketplace and more.
This issue includes topics on appointing financial advisers, an Aptitude for professional trusteeship, shifting the landscape of the UK pensions marketplace and more.
Marriage matters to Defined Benefit (DB) pension schemes. This is because typically they pay survivor pensions to the spouse, or qualifying dependant, of members after they have died. To value these pensions, schemes need to know (a) what proportion of members have an eligible dependant and (b) the age difference between members and their dependants (since younger dependants are likely to live longer).
Research published last year by The Pensions Regulator (TPR) showed that a quarter of pension schemes had less than half of the recommended controls in place to protect their data and assets from cyber risk. Are pension schemes behind the curve when it comes to managing cyber security risks, and what steps can they take to improve?
Everything’s relative. Back in 2014, when a surprise budget gave us the ‘overnight transformation’ of the pension industry, we thought we’d seen the ultimate shock to the system. From the 2020 vantage point, 2014’s ‘biggest shake up in a century’ looks like a long, slow and well-planned walk in an entirely predictable park. Now, we’re looking at actual overnight transformation - necessity has driven the world online on a massively accelerated timetable and cyber attacks are running a close second to COVID-19 in the global headlines.
Pension scheme consolidation has been on the government’s agenda for a while now, and the Pensions Regulator has said that people saving for their retirement are better served by big schemes than by small ones. The Regulator feels that larger schemes can benefit from economies of scale, more effective and efficient investment strategies and improved governance.
Transfers from Defined Benefit (DB) pension schemes are an emotive topic at the best of times. In these uncertain times, the focus on them is bound to increase. We have already heard anecdotal evidence of an increase in interest in transfers, driven by members who have concerns about their jobs and the ongoing viability of their employers, and who are thinking of a transfer as a potential way to access more income if needed.
