Pensions news is a weekly summary of those pensions news items that are particularly relevant to the corporate reader.
In the news this week, the Pensions Regulator has released its 2019 annual funding statement, the Single Financial Guidance Body has been renamed, the latest CMI projections model has been released and National Express has completed a buy-in.
In the news this week, PMI launches an accreditation for professional trustees, the FCA launches a consultation on cost disclosure, TPR brings its first money laundering prosecution, and a further large buy-in is completed.
In the news this week, the Government has launched a mid-life MOT website, the Norfolk Pension Fund has won a US securities fraud class action case, and the Lafarge Pension Scheme has secured a longevity swap.
In the news this week, the DWP clarifies its plans to bolster TPR’s powers, including up to seven years’ imprisonment for anyone found guilty of wilful mismanagement of pensions.
In the news this week, the DWP aims to encourage more innovative DC investment, the CMI plans to place less emphasis on historic data in its mortality projection model, the Plumbing scheme has begun issuing section 75 debt notices, and Just Group confirms a £158 million buy-in.
In the news this week, the FCA reforms its rules on pensions ‘wake-up’ packs and consults on investment pathways for drawdown, there will be no appeal in the Lloyds Banking case, and HMRC starts to consider the effect of GMP equalisation on pensions tax.
In the news this week, a House of Lords committee urges the UK Statistics Authority to “fix” RPI, an independent review finds that Trustees need professional help on communicating with their members, and the Treasury gives NEST a £329 million guarantee.
In the news this week, the High Court has overturned a judgement made by the Pensions Ombudsman, the Co-op’s Somerfield scheme announces a buy-in with PIC and UK inflation hits a two-year low.
In the news this week, PASA has set up an industry group to provide guidance on GMP equalisation, the Work and Pensions Committee launches an inquiry into contingent charging, and the cold-calling ban has come into effect.