PENSIONS EXPERT

The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY 55 minutes ago · A number of industry bodies are concerned about “fatigue” from a deluge of consultations, Pensions Expert can reveal, warning that the sheer number of responses required, coupled with the short time-frames in which to prepare them, AVAILABLE TO REGISTERED USERS ONLY On the go: The Association of Consulting Actuaries has said administrators and trustees will need more time to comply with new pension scam rules being introduced by the government. ESG - PENSIONS EXPERT - NEWS, ANALYSIS AND COMMENT ON UK Index funds present challenge for East Sussex scheme’s ESG aspirations. Sophie Wilcock | May 20, 2021. On the go: The East Sussex Pension Fund was one of the first Local Government Pension Schemes in the country to carbon footprint its portfolio, and also one of the first to explore and adopt a climate-aware index. AVAILABLE TO REGISTERED USERS ONLY 4 hours ago · On the go: Women born in the 1950s suffered delays of more than two years in being informed about rises in their state pension age due to government maladministration, according to preliminary findings by the Parliamentary and Health

Service Ombudsman.

AVAILABLE TO REGISTERED USERS ONLY On the go: The number of defined benefit schemes with a professional trustee on its board has increased by 60 per cent in five years, with a third of pension funds now using these services, according to LCP. AVAILABLE TO REGISTERED USERS ONLY 5 hours ago · The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY 23 hours ago · The Department for Work and Pensions is pressing ahead with new rules that will require trustees to report on their schemes' climate change investment risks by October, but has introduced a number of changes and easements to the regulations after

industry concerns.

AVAILABLE TO REGISTERED USERS ONLY 23 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021. ABSENT TRUSTEES HAMPER SCHEME DECISION-MAKING DURING PANDEMIC Absent trustees hamper. scheme decision-making. during pandemic. With some schemes temporarily suspending operations due to absent trustee board members, more guidance is needed on how best to manage unforeseen absences. Fears of an entire trustee board being laid low by Covid-19 with vital decisions delayed or passed inquorate have

proved

PENSIONS EXPERT

The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY 55 minutes ago · A number of industry bodies are concerned about “fatigue” from a deluge of consultations, Pensions Expert can reveal, warning that the sheer number of responses required, coupled with the short time-frames in which to prepare them, AVAILABLE TO REGISTERED USERS ONLY On the go: The Association of Consulting Actuaries has said administrators and trustees will need more time to comply with new pension scam rules being introduced by the government. ESG - PENSIONS EXPERT - NEWS, ANALYSIS AND COMMENT ON UK Index funds present challenge for East Sussex scheme’s ESG aspirations. Sophie Wilcock | May 20, 2021. On the go: The East Sussex Pension Fund was one of the first Local Government Pension Schemes in the country to carbon footprint its portfolio, and also one of the first to explore and adopt a climate-aware index. AVAILABLE TO REGISTERED USERS ONLY 5 hours ago · On the go: Women born in the 1950s suffered delays of more than two years in being informed about rises in their state pension age due to government maladministration, according to preliminary findings by the Parliamentary and Health

Service Ombudsman.

AVAILABLE TO REGISTERED USERS ONLY On the go: The number of defined benefit schemes with a professional trustee on its board has increased by 60 per cent in five years, with a third of pension funds now using these services, according to LCP. AVAILABLE TO REGISTERED USERS ONLY 5 hours ago · The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY 23 hours ago · The Department for Work and Pensions is pressing ahead with new rules that will require trustees to report on their schemes' climate change investment risks by October, but has introduced a number of changes and easements to the regulations after

industry concerns.

AVAILABLE TO REGISTERED USERS ONLY 23 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021. ABSENT TRUSTEES HAMPER SCHEME DECISION-MAKING DURING PANDEMIC Absent trustees hamper. scheme decision-making. during pandemic. With some schemes temporarily suspending operations due to absent trustee board members, more guidance is needed on how best to manage unforeseen absences. Fears of an entire trustee board being laid low by Covid-19 with vital decisions delayed or passed inquorate have

proved

AVAILABLE TO REGISTERED USERS ONLY 5 hours ago · On the go: Women born in the 1950s suffered delays of more than two years in being informed about rises in their state pension age due to government maladministration, according to preliminary findings by the Parliamentary and Health

Service Ombudsman.

AVAILABLE TO REGISTERED USERS ONLY The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY 23 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021. AVAILABLE TO REGISTERED USERS ONLY This week – DWP’s DC charging structure riles master trusts, TPR unveils its latest annual funding statement, new bill that allows DWP to loan money to the PPF, and the BMA’s move to exclude members from the planned pension age hike. ESG - PENSIONS EXPERT - NEWS, ANALYSIS AND COMMENT ON UK Index funds present challenge for East Sussex scheme’s ESG aspirations. Sophie Wilcock | May 20, 2021. On the go: The East Sussex Pension Fund was one of the first Local Government Pension Schemes in the country to carbon footprint its portfolio, and also one of the first to explore and adopt a climate-aware index. AVAILABLE TO REGISTERED USERS ONLY Register now for FREE to see this article. It's quick, easy and as a registered user you'll have full access to all Pensions Expert articles. You will also be able to receive editorial emails. If you are already registered, please click here to login.

PENSIONS EXPERT

The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY On the go: A bill has been introduced to parliament that will enable the Pension Protection Fund to receive a loan from the Department for Work and Pensions in AVAILABLE TO REGISTERED USERS ONLY 23 hours ago · The Department for Work and Pensions is pressing ahead with new rules that will require trustees to report on their schemes' climate change investment risks by October, but has introduced a number of changes and easements to the regulations after

industry concerns.

AVAILABLE TO REGISTERED USERS ONLY There are several ways pension schemes can tackle their investments’ carbon emissions, but more significant action in the present is needed to address climate change, details Julius Pursaill, Cushon’s scheme

strategist.

PENSIONS EXPERT

The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY Join Pensions Expert and the FT for its second annual DB Forum, which aims to simplify and analyse the confusing new landscape facing those involved in defined benefit scheme management. AVAILABLE TO REGISTERED USERS ONLY 11 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021.

DC & AUTO-ENROLMENT

Rolhat Zen-Aloush | April 30, 2021. On the go: A total of £2.6bn was withdrawn from defined contribution pension schemes under the government’s flexible payment rules during the first quarter of 2021, an increase of 6 per cent year on year from the £2.5bn taken out during the same period last year, according to new statistics from

HM

AVAILABLE TO REGISTERED USERS ONLY Police officers from every federated rank in the UK have written to the chairs of the Police Pension Scheme advisory boards to complain about the “deeply unfair” ramifications of the government’s

McCloud remedy.

ABSENT TRUSTEES HAMPER SCHEME DECISION-MAKING DURING PANDEMIC Absent trustees hamper. scheme decision-making. during pandemic. With some schemes temporarily suspending operations due to absent trustee board members, more guidance is needed on how best to manage unforeseen absences. Fears of an entire trustee board being laid low by Covid-19 with vital decisions delayed or passed inquorate have

proved

PENSIONS EXPERT

Experts dismiss national pension fund proposal. Stephanie Hawthorne | April 6, 2021. Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.

PENSIONS EXPERT

From the blog: The Pensions Regulator’s assertion that “the strength of the employer covenant can change materially over a short period of time” has once again been proved correct by the case of Carillion. The company’s share price tumbled 47 per cent earlier this month, following similar falls in July. During this turbulent time the trustees of Carillion’s five main UK defined

PENSIONS EXPERT

Pension Wise: perception and reality. Chris Wagstaff | January 4, 2016. From the blog: Defined contribution investors face risks and challenges both at and in retirement, against the backdrop of the widening UK advice gap and the lack of any reference framework by which to gauge what is feasible and realistic. I therefore jumped at

the chance

AVAILABLE TO REGISTERED USERS ONLY TRW Pension Plan merges with ZF schemes. Automotive manufacturer TRW has merged its defined benefit scheme with those of its German parent company. While consolidation of this kind can lead to cost savings and better governance, experts say there are limited administration benefits to scheme mergers, unless trustees are prepared to invest.

PENSIONS EXPERT

The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY Join Pensions Expert and the FT for its second annual DB Forum, which aims to simplify and analyse the confusing new landscape facing those involved in defined benefit scheme management. AVAILABLE TO REGISTERED USERS ONLY 11 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021.

DC & AUTO-ENROLMENT

Rolhat Zen-Aloush | April 30, 2021. On the go: A total of £2.6bn was withdrawn from defined contribution pension schemes under the government’s flexible payment rules during the first quarter of 2021, an increase of 6 per cent year on year from the £2.5bn taken out during the same period last year, according to new statistics from

HM

AVAILABLE TO REGISTERED USERS ONLY Police officers from every federated rank in the UK have written to the chairs of the Police Pension Scheme advisory boards to complain about the “deeply unfair” ramifications of the government’s

McCloud remedy.

ABSENT TRUSTEES HAMPER SCHEME DECISION-MAKING DURING PANDEMIC Absent trustees hamper. scheme decision-making. during pandemic. With some schemes temporarily suspending operations due to absent trustee board members, more guidance is needed on how best to manage unforeseen absences. Fears of an entire trustee board being laid low by Covid-19 with vital decisions delayed or passed inquorate have

proved

PENSIONS EXPERT

Experts dismiss national pension fund proposal. Stephanie Hawthorne | April 6, 2021. Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.

PENSIONS EXPERT

From the blog: The Pensions Regulator’s assertion that “the strength of the employer covenant can change materially over a short period of time” has once again been proved correct by the case of Carillion. The company’s share price tumbled 47 per cent earlier this month, following similar falls in July. During this turbulent time the trustees of Carillion’s five main UK defined

PENSIONS EXPERT

Pension Wise: perception and reality. Chris Wagstaff | January 4, 2016. From the blog: Defined contribution investors face risks and challenges both at and in retirement, against the backdrop of the widening UK advice gap and the lack of any reference framework by which to gauge what is feasible and realistic. I therefore jumped at

the chance

AVAILABLE TO REGISTERED USERS ONLY TRW Pension Plan merges with ZF schemes. Automotive manufacturer TRW has merged its defined benefit scheme with those of its German parent company. While consolidation of this kind can lead to cost savings and better governance, experts say there are limited administration benefits to scheme mergers, unless trustees are prepared to invest. ABOUT US - INFO - PENSIONS EXPERT Benjamin Mercer, reporter. Benjamin joined Pensions Expert as a reporter in April 2020 after matriculating at City, and before that at Heythrop College, University of London. His work has appeared in BrexitCentral, The Salisbury Review, CityMetric and Bedfordshire on Sunday, and he lives on a boat. Contact Benjamin on 020 7873 4770, M:

07308

REGISTER - PENSIONS EXPERT Register now for FREE. Register now for your free Pensions-Expert.com account. It's quick, easy and you'll be able to benefit from our daily email briefings, as well as full access to our content. AVAILABLE TO REGISTERED USERS ONLY 11 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021. AVAILABLE TO REGISTERED USERS ONLY 11 hours ago · The Department for Work and Pensions is pressing ahead with new rules that will require trustees to report on their schemes' climate change investment risks by October, but has introduced a number of changes and easements to the regulations after

industry concerns.

COMMENT & ANALYSIS

Systemic issues won't be addressed until regulator thinks systemically. ShareAction’s director of policy, Bethan Livesey, calls for the regulator to provide sector-wide resources and data on environmental, social and governance risks for schemes to use in their

own assessments.

AVAILABLE TO REGISTERED USERS ONLY 15 hours ago · On the go: The aggregate surplus of 5,318 defined benefit schemes in the Pension Protection Fund increased by £40.9bn

in May.

AVAILABLE TO REGISTERED USERS ONLY 15 hours ago · On the go: Only half of defined benefit scheme trustee boards review their effectiveness annually, which shows the industry still has some way to go when it comes to governance, according to Willis Towers Watson. AVAILABLE TO REGISTERED USERS ONLY 15 hours ago · ESG Spotlight: A roundup of the latest news on environmental, social and governance initiatives, with UK pension funds pledging to commit to net zero by 2050 and Aegon to transition a further £3.5bn of its workplace default funds in June. AVAILABLE TO REGISTERED USERS ONLY 1 day ago · There are several ways pension schemes can tackle their investments’ carbon emissions, but more significant action in the present is needed to address climate change, details Julius Pursaill, Cushon’s scheme strategist. AVAILABLE TO REGISTERED USERS ONLY The government is to amend regulations to the NHS Pension Scheme that has seen hundreds of employers, including GPs, hit with charges for staff members who are in the last three years prior to retirement, which could amount to hundreds of thousands of pounds.

PENSIONS EXPERT

The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY Join Pensions Expert and the FT for its second annual DB Forum, which aims to simplify and analyse the confusing new landscape facing those involved in defined benefit scheme management. AVAILABLE TO REGISTERED USERS ONLY 2 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021.

DC & AUTO-ENROLMENT

Rolhat Zen-Aloush | April 30, 2021. On the go: A total of £2.6bn was withdrawn from defined contribution pension schemes under the government’s flexible payment rules during the first quarter of 2021, an increase of 6 per cent year on year from the £2.5bn taken out during the same period last year, according to new statistics from

HM

AVAILABLE TO REGISTERED USERS ONLY Police officers from every federated rank in the UK have written to the chairs of the Police Pension Scheme advisory boards to complain about the “deeply unfair” ramifications of the government’s

McCloud remedy.

ABSENT TRUSTEES HAMPER SCHEME DECISION-MAKING DURING PANDEMIC Absent trustees hamper. scheme decision-making. during pandemic. With some schemes temporarily suspending operations due to absent trustee board members, more guidance is needed on how best to manage unforeseen absences. Fears of an entire trustee board being laid low by Covid-19 with vital decisions delayed or passed inquorate have

proved

PENSIONS EXPERT

Experts dismiss national pension fund proposal. Stephanie Hawthorne | April 6, 2021. Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.

PENSIONS EXPERT

From the blog: The Pensions Regulator’s assertion that “the strength of the employer covenant can change materially over a short period of time” has once again been proved correct by the case of Carillion. The company’s share price tumbled 47 per cent earlier this month, following similar falls in July. During this turbulent time the trustees of Carillion’s five main UK defined

PENSIONS EXPERT

Pension Wise: perception and reality. Chris Wagstaff | January 4, 2016. From the blog: Defined contribution investors face risks and challenges both at and in retirement, against the backdrop of the widening UK advice gap and the lack of any reference framework by which to gauge what is feasible and realistic. I therefore jumped at

the chance

AVAILABLE TO REGISTERED USERS ONLY TRW Pension Plan merges with ZF schemes. Automotive manufacturer TRW has merged its defined benefit scheme with those of its German parent company. While consolidation of this kind can lead to cost savings and better governance, experts say there are limited administration benefits to scheme mergers, unless trustees are prepared to invest.

PENSIONS EXPERT

The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY Join Pensions Expert and the FT for its second annual DB Forum, which aims to simplify and analyse the confusing new landscape facing those involved in defined benefit scheme management. AVAILABLE TO REGISTERED USERS ONLY 2 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021.

DC & AUTO-ENROLMENT

Rolhat Zen-Aloush | April 30, 2021. On the go: A total of £2.6bn was withdrawn from defined contribution pension schemes under the government’s flexible payment rules during the first quarter of 2021, an increase of 6 per cent year on year from the £2.5bn taken out during the same period last year, according to new statistics from

HM

AVAILABLE TO REGISTERED USERS ONLY Police officers from every federated rank in the UK have written to the chairs of the Police Pension Scheme advisory boards to complain about the “deeply unfair” ramifications of the government’s

McCloud remedy.

ABSENT TRUSTEES HAMPER SCHEME DECISION-MAKING DURING PANDEMIC Absent trustees hamper. scheme decision-making. during pandemic. With some schemes temporarily suspending operations due to absent trustee board members, more guidance is needed on how best to manage unforeseen absences. Fears of an entire trustee board being laid low by Covid-19 with vital decisions delayed or passed inquorate have

proved

PENSIONS EXPERT

Experts dismiss national pension fund proposal. Stephanie Hawthorne | April 6, 2021. Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.

PENSIONS EXPERT

From the blog: The Pensions Regulator’s assertion that “the strength of the employer covenant can change materially over a short period of time” has once again been proved correct by the case of Carillion. The company’s share price tumbled 47 per cent earlier this month, following similar falls in July. During this turbulent time the trustees of Carillion’s five main UK defined

PENSIONS EXPERT

Pension Wise: perception and reality. Chris Wagstaff | January 4, 2016. From the blog: Defined contribution investors face risks and challenges both at and in retirement, against the backdrop of the widening UK advice gap and the lack of any reference framework by which to gauge what is feasible and realistic. I therefore jumped at

the chance

AVAILABLE TO REGISTERED USERS ONLY TRW Pension Plan merges with ZF schemes. Automotive manufacturer TRW has merged its defined benefit scheme with those of its German parent company. While consolidation of this kind can lead to cost savings and better governance, experts say there are limited administration benefits to scheme mergers, unless trustees are prepared to invest. ABOUT US - INFO - PENSIONS EXPERT Benjamin Mercer, reporter. Benjamin joined Pensions Expert as a reporter in April 2020 after matriculating at City, and before that at Heythrop College, University of London. His work has appeared in BrexitCentral, The Salisbury Review, CityMetric and Bedfordshire on Sunday, and he lives on a boat. Contact Benjamin on 020 7873 4770, M:

07308

REGISTER - PENSIONS EXPERT Register now for FREE. Register now for your free Pensions-Expert.com account. It's quick, easy and you'll be able to benefit from our daily email briefings, as well as full access to our content. AVAILABLE TO REGISTERED USERS ONLY 2 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021. AVAILABLE TO REGISTERED USERS ONLY 2 hours ago · The Department for Work and Pensions is pressing ahead with new rules that will require trustees to report on their schemes' climate change investment risks by October, but has introduced a number of changes and easements to the regulations after industry

concerns.

COMMENT & ANALYSIS

Systemic issues won't be addressed until regulator thinks systemically. ShareAction’s director of policy, Bethan Livesey, calls for the regulator to provide sector-wide resources and data on environmental, social and governance risks for schemes to use in their

own assessments.

AVAILABLE TO REGISTERED USERS ONLY 7 hours ago · On the go: The aggregate surplus of 5,318 defined benefit schemes in the Pension Protection Fund increased by £40.9bn

in May.

AVAILABLE TO REGISTERED USERS ONLY 6 hours ago · On the go: Only half of defined benefit scheme trustee boards review their effectiveness annually, which shows the industry still has some way to go when it comes to governance, according to Willis Towers Watson. AVAILABLE TO REGISTERED USERS ONLY 7 hours ago · ESG Spotlight: A roundup of the latest news on environmental, social and governance initiatives, with UK pension funds pledging to commit to net zero by 2050 and Aegon to transition a further £3.5bn of its workplace default funds in June. AVAILABLE TO REGISTERED USERS ONLY 1 day ago · There are several ways pension schemes can tackle their investments’ carbon emissions, but more significant action in the present is needed to address climate change, details Julius Pursaill, Cushon’s scheme strategist. AVAILABLE TO REGISTERED USERS ONLY The government is to amend regulations to the NHS Pension Scheme that has seen hundreds of employers, including GPs, hit with charges for staff members who are in the last three years prior to retirement, which could amount to hundreds of thousands of pounds.

PENSIONS EXPERT

The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY Join Pensions Expert and the FT for its second annual DB Forum, which aims to simplify and analyse the confusing new landscape facing those involved in defined benefit scheme management. AVAILABLE TO REGISTERED USERS ONLY 2 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021.

DC & AUTO-ENROLMENT

Rolhat Zen-Aloush | April 30, 2021. On the go: A total of £2.6bn was withdrawn from defined contribution pension schemes under the government’s flexible payment rules during the first quarter of 2021, an increase of 6 per cent year on year from the £2.5bn taken out during the same period last year, according to new statistics from

HM

AVAILABLE TO REGISTERED USERS ONLY Police officers from every federated rank in the UK have written to the chairs of the Police Pension Scheme advisory boards to complain about the “deeply unfair” ramifications of the government’s

McCloud remedy.

ABSENT TRUSTEES HAMPER SCHEME DECISION-MAKING DURING PANDEMIC Absent trustees hamper. scheme decision-making. during pandemic. With some schemes temporarily suspending operations due to absent trustee board members, more guidance is needed on how best to manage unforeseen absences. Fears of an entire trustee board being laid low by Covid-19 with vital decisions delayed or passed inquorate have

proved

PENSIONS EXPERT

Experts dismiss national pension fund proposal. Stephanie Hawthorne | April 6, 2021. Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.

PENSIONS EXPERT

From the blog: The Pensions Regulator’s assertion that “the strength of the employer covenant can change materially over a short period of time” has once again been proved correct by the case of Carillion. The company’s share price tumbled 47 per cent earlier this month, following similar falls in July. During this turbulent time the trustees of Carillion’s five main UK defined

PENSIONS EXPERT

Pension Wise: perception and reality. Chris Wagstaff | January 4, 2016. From the blog: Defined contribution investors face risks and challenges both at and in retirement, against the backdrop of the widening UK advice gap and the lack of any reference framework by which to gauge what is feasible and realistic. I therefore jumped at

the chance

AVAILABLE TO REGISTERED USERS ONLY TRW Pension Plan merges with ZF schemes. Automotive manufacturer TRW has merged its defined benefit scheme with those of its German parent company. While consolidation of this kind can lead to cost savings and better governance, experts say there are limited administration benefits to scheme mergers, unless trustees are prepared to invest.

PENSIONS EXPERT

The latest news analysis, case studies and informed comment on the challenges facing UK workplace pension schemes, from Pensions Expert, a Financial Times service. AVAILABLE TO REGISTERED USERS ONLY Join Pensions Expert and the FT for its second annual DB Forum, which aims to simplify and analyse the confusing new landscape facing those involved in defined benefit scheme management. AVAILABLE TO REGISTERED USERS ONLY 2 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021.

DC & AUTO-ENROLMENT

Rolhat Zen-Aloush | April 30, 2021. On the go: A total of £2.6bn was withdrawn from defined contribution pension schemes under the government’s flexible payment rules during the first quarter of 2021, an increase of 6 per cent year on year from the £2.5bn taken out during the same period last year, according to new statistics from

HM

AVAILABLE TO REGISTERED USERS ONLY Police officers from every federated rank in the UK have written to the chairs of the Police Pension Scheme advisory boards to complain about the “deeply unfair” ramifications of the government’s

McCloud remedy.

ABSENT TRUSTEES HAMPER SCHEME DECISION-MAKING DURING PANDEMIC Absent trustees hamper. scheme decision-making. during pandemic. With some schemes temporarily suspending operations due to absent trustee board members, more guidance is needed on how best to manage unforeseen absences. Fears of an entire trustee board being laid low by Covid-19 with vital decisions delayed or passed inquorate have

proved

PENSIONS EXPERT

Experts dismiss national pension fund proposal. Stephanie Hawthorne | April 6, 2021. Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.

PENSIONS EXPERT

From the blog: The Pensions Regulator’s assertion that “the strength of the employer covenant can change materially over a short period of time” has once again been proved correct by the case of Carillion. The company’s share price tumbled 47 per cent earlier this month, following similar falls in July. During this turbulent time the trustees of Carillion’s five main UK defined

PENSIONS EXPERT

Pension Wise: perception and reality. Chris Wagstaff | January 4, 2016. From the blog: Defined contribution investors face risks and challenges both at and in retirement, against the backdrop of the widening UK advice gap and the lack of any reference framework by which to gauge what is feasible and realistic. I therefore jumped at

the chance

AVAILABLE TO REGISTERED USERS ONLY TRW Pension Plan merges with ZF schemes. Automotive manufacturer TRW has merged its defined benefit scheme with those of its German parent company. While consolidation of this kind can lead to cost savings and better governance, experts say there are limited administration benefits to scheme mergers, unless trustees are prepared to invest. ABOUT US - INFO - PENSIONS EXPERT Benjamin Mercer, reporter. Benjamin joined Pensions Expert as a reporter in April 2020 after matriculating at City, and before that at Heythrop College, University of London. His work has appeared in BrexitCentral, The Salisbury Review, CityMetric and Bedfordshire on Sunday, and he lives on a boat. Contact Benjamin on 020 7873 4770, M:

07308

REGISTER - PENSIONS EXPERT Register now for FREE. Register now for your free Pensions-Expert.com account. It's quick, easy and you'll be able to benefit from our daily email briefings, as well as full access to our content. AVAILABLE TO REGISTERED USERS ONLY 2 hours ago · On the go: Oxford Instruments made an additional deficit recovery payment of £8.1m to its defined benefit pension scheme in the year ending in March 2021. AVAILABLE TO REGISTERED USERS ONLY 2 hours ago · The Department for Work and Pensions is pressing ahead with new rules that will require trustees to report on their schemes' climate change investment risks by October, but has introduced a number of changes and easements to the regulations after industry

concerns.

COMMENT & ANALYSIS

Systemic issues won't be addressed until regulator thinks systemically. ShareAction’s director of policy, Bethan Livesey, calls for the regulator to provide sector-wide resources and data on environmental, social and governance risks for schemes to use in their

own assessments.

AVAILABLE TO REGISTERED USERS ONLY 6 hours ago · On the go: The aggregate surplus of 5,318 defined benefit schemes in the Pension Protection Fund increased by £40.9bn

in May.

AVAILABLE TO REGISTERED USERS ONLY 6 hours ago · On the go: Only half of defined benefit scheme trustee boards review their effectiveness annually, which shows the industry still has some way to go when it comes to governance, according to Willis Towers Watson. AVAILABLE TO REGISTERED USERS ONLY 7 hours ago · ESG Spotlight: A roundup of the latest news on environmental, social and governance initiatives, with UK pension funds pledging to commit to net zero by 2050 and Aegon to transition a further £3.5bn of its workplace default funds in June. AVAILABLE TO REGISTERED USERS ONLY 1 day ago · There are several ways pension schemes can tackle their investments’ carbon emissions, but more significant action in the present is needed to address climate change, details Julius Pursaill, Cushon’s scheme strategist. AVAILABLE TO REGISTERED USERS ONLY The government is to amend regulations to the NHS Pension Scheme that has seen hundreds of employers, including GPs, hit with charges for staff members who are in the last three years prior to retirement, which could amount to hundreds of thousands of pounds.

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HIGH COURT SPARES COUNCIL £6.5M IN LGPS EXIT CREDIT RULING

Benjamin Mercer

| June

6, 2021

The High Court has found in favour of a county council in a battle with a contractor over £6.5m in exit credits, a ruling legal experts say provides much-needed clarity over regulations that have given rise to several legal disputes

.

LGPS FUNDS RAMP UP INVESTMENTS

Rachel So |

June 4, 2021

DATA CRUNCH: Local Government Pension Scheme funds had a busy start to the year, with several new mandates awarded as transfers to pools

accelerate.

MUSLIMS MISSING OUT ON PENSIONS WORTH £13BN DUE TO SHARIA CONCERNS

Rolhat Zen-Aloush

|

June 3, 2021

One-third of Muslims in the UK do not have a pension due to the lack of sharia-compliant pension options, missing out on an estimated �12.8bn in savings for retirement, which has prompted calls for trustees to introduce Islamic funds in defined contribution schemes. WEEKLY ROUNDUP: THE PENSION OF DR MOREAU

Benjamin Mercer

| June

3, 2021

This week – a change to what is considered excessive in NHS pay, BlackRock takes over British Airways' pension schemes, a surprisingly controversial review of TfL pensions, and the importance of trustees' understanding of liquidity risks. BA SIGNS 'FIRST OF ITS KIND' £21BN DEAL WITH BLACKROCK

Benjamin Mercer

| June

2, 2021

The trustees of the British Airways pension schemes have signed a deal with BlackRock that places the investment management company in charge of more than £21bn worth of assets. GOVT FIXES NHS SCHEME RULES TO AVOID HEFTY RETIREMENT BILLS

Benjamin Mercer

| June

1, 2021

The government is to amend regulations to the NHS Pension Scheme that has seen hundreds of employers, including GPs, hit with charges for staff members who are in the last three years prior to retirement, which could amount to hundreds of thousands of pounds.

COMMENT

THERE ARE MANY ROADS TO PARIS – LET’S NOT IMPOSE A SINGLE ROUTE TO

NET-ZERO

Julius Pursaill

| June

4, 2021

There are several ways pension schemes can tackle their investments’ carbon emissions, but more significant action in the present is needed to address climate change, details Julius Pursaill, Cushon’s scheme

strategist.

INVESTMENT OVERSIGHT – TRUSTEES SHOULD ‘MIND THE GAP’

Peter Dorward

| June

2, 2021

IC Select managing director Peter Dorward outlines how trustees need to increase the oversight of their investment consultants and fiduciary managers in a way to comply with new regulations. DRIVING THE ESG AGENDA THROUGH FIXED INCOME

Mark Dowding

| May 28,

2021

BlueBay Asset Management chief investment officer Mark Dowding details how pension schemes can drive the environmental, social and governance agenda through their investments in the bond market.

VIDEOS & PODCASTS

POLICE OFFICERS LET DOWN BY POOR MCCLOUD COMMUNICATION

Benjamin Mercer

| May

27, 2021

PODCAST: Quietroom development lead Joe Craig and Taylor Wessing senior associate Hadassah Shulman discuss the implications of the McCloud remedy for police officers, simpler annual statements, and the government’s anti-scam proposals. PENSION SCHEMES’ UNDER-ALLOCATION TO CHINA IS ‘ANACHRONISTIC’

Benjamin Mercer

| May

13, 2021

PODCAST: RisCura investment consultant Lars Hagenbuch and SEI Investments director Cyprian Njamma discuss the low exposure to Chinese assets within UK pension schemes, in an episode also covering Covid-19 mortality data and the Pensions Regulator’s proposed asset

information reform.

ILLIQUIDS NOT NECESSARILY THE ANSWER FOR DC

Benjamin Mercer

|

April 29, 2021

PODCAST: Brian Henderson, partner and director of consulting at Mercer, and Shola Salako, professional trustee at Dalriada, discuss alternatives to illiquids in defined contribution pension portfolios, putting the S in ESG, and fixing the problems with chair’s

statements.

NEWS ON THE GO

FCA ANNOUNCES EXPECTATIONS FOR PUBLICATION OF COSTS AND CHARGES DATA

THIS SUMMER

STRATHCLYDE PENSION FUND UPDATES INVESTMENTS TO TARGET NET ZERO AON SELLS US BUSINESSES TO COMPLETE MERGER WITH WTW CUSHON ACQUIRES NORTHERN IRELAND MASTER TRUST UK TO LEAD TCFD DISCLOSURES BY 2025 FOR ALL COMPANIES

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* BA signs 'first of its kind' £21bn deal with BlackRock * Govt fixes NHS scheme rules to avoid hefty retirement bills * Muslims missing out on pensions worth £13bn due to sharia

concerns

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