Pensions Aspects Magazine
- The PMI is currently undergoing website updates, please be aware that you may encounter brief periods of downtime during this time.
Codification not just consolidation
The consultation on The Pension Regulator’s (TPR’s) new ‘super code’ ended on 26 May 2021. It is expected to come into force sometime later this year, but trustees and other governing bodies should start to get ready for it now. The new Code is much more than a copy and paste of extracts from the existing TPR Codes of Practice, and includes, in addition to revisions to existing requirements, brand new content around pension scheme governance and management.
Read moreWhy buy-ins make it harder to achieve a buy-out
In the majority of cases, a buy-in will be detrimental to the trustees’ ability to achieve a buy-out, requiring re-risking a pension scheme’s portfolio of assets or pushing out the time frame.
Read morePensions Aspects June 2021
Leading the way. Read the latest issue on the flight path to captivating member engagement.
Read moreTurning the tide on pension scams
These uncertain times are often seen as a window of opportunity for scammers looking to prey on vulnerable individuals. A report by Action Fraud found that pension scams had become one of the most common types of fraud to occur last year. The pensions industry is facing pressure to do more to prevent this situation, but what role can trustees play?
Read moreWell, I wouldn’t have started from here…
Recent guidance from The Pensions Regulator (TPR) and Financial Conduct Authority (FCA) has clarified a number of issues for pension scheme sponsors and trustees with regards to supporting pension savers with their financial decision making. It codifies best practice and clarifies a number of issues that have been live over the last six months. So, if you’re a scheme sponsor or a trustee, here’s what you can do – and what you can’t.
Read morePensions is boring: what can Master Trusts do about it?
Some of you may have attended the PMI’s webinar in April where I spoke about whether environmental, social and governance (ESG) factors are the panacea for pension engagement, and considered where we, as an industry, are going wrong on engagement. As can be seen from the graph below, there was a recognition that pensions engagement strategies aren’t very effective, with only 36% of respondents to a live poll on the day believing that their strategy was really effective. From this we can probably tell that there still appears to be a considerable amount of work to do.
Read more