Comment

Care at the end of life is in crisis, warns editor Stephanie Hawthorne

Analysis

Robin Ellison, Pinsent Masons, on fixing bad drafting and a legal miscellany from cold calling to auto-enrolment

We might need to revise our expectations of ever increasing longevity in the light of recent statistics, warns Anthony Hilton, Evening Standard

The BHS squabble descends into a brawl as the two main players exchange verbal blows, reports Ceri Jones, financial journalist

Features

Analytics is the latest innovation in DC default fund design. Alex Toney, Barnett Waddingham, explains how it can help members to achieve their retirement goals

Work expands to fill the time available. Sir Steve Webb, Royal London, considers the consequences of people having to work longer

 

Schemes should consider alternative valuation methods to the usual gilts plus measure, suggests Craig Wootton, Punter Southall

Investment brief

We might need to revise our expectations of ever increasing longevity in the light of recent statistics, warns Anthony Hilton, Evening Standard

Debrief

David Bird, Willis Towers Watson, on how to undertake transfers without consent

Survey

Master trusts will soon have to comply with five new benchmarks to provide a five star service. Ceri Jones, financial journalist, surveys the market

Events

Conference diary

7 Feb–10 May
Aon pensions conference 2017: Pensions in an uncertain world
Birmingham, 7 Feb
London, 21 Feb, 10 May
Manchester, 1 March
Bristol, 14 March
Edinburgh, 5 April
Leeds, 26 April
ukevents@aonhewitt.com
23–24 Feb
The 6th annual world pensions investment forum, London
...

PLSA update

PLSA - February 2017

News

First master trust fines for chair's statements

Over £30bn of liabilities will be insured in 2017, through buyins, buyouts and longevity swaps, according to Willis Towers Watson.

This will be a return to the levels of activity observed in 2014 (£39bn) and 2015 (£18bn), following a slower 2016 (£11bn), as participants allowed for the bedding in of Solvency II and “back books” distracted some market participants from new pensions...

A roundup of recent worldwide news and developments in the pensions arena, by Anne Bennett, Mercer

The Pensions Advisory Service
www.pensionsadvisoryservice.org.uk
020 7630 2250

Volunteers needed!

I am pleased to welcome Roy Platten, Robert Little and Ayman Zagloul as new TPAS volunteers!

We are always looking for volunteers to help with casework, which can be dealt with from home, or for our London office to help answer calls on our helpline.

...

Royal Mail is consulting on the closure of its defined benefit (DB) pension scheme.

If nothing changed, from April 2018 Royal Mail says it would need to pay over £1bn a year to fund members’ pension benefits. This would increase its contributions from around 17% of pensionable pay to over 50%.

The loss of DB pension provision at the Royal Mail represents a significant milestone...

More than a million over-45s have fallen victim to email scams, according to Aviva’s latest Real Retirement Report, which also highlights that the experience of being targeted via an email scam is 22% more common among this age group than by a phone scam.

With the government currently consulting on a cold calling ban to “cut off a key source of pension scams”, the findings highlight the...

Highest SPA in OECD

The Pensions and Lifetime Savings Association (PLSA) has responded to the independent review of the state pension age (SPA), calling for no further increase to the age at which people receive their state pension.

The UK is already set to have, at 68, the highest SPA of any OECD country. Raising it further would affect those with lower than average life expectancies...

Over half of FTSE 100 companies (53) could clear their pension deficits in less than two years by withholding dividends.

In its latest quarterly report on FTSE 100 pension schemes, JLT Employee Benefits found that currently only six FTSE 100 companies are spending more in contributions to their defined benefit (DB) pension schemes than in dividends to their shareholders. Only seven...

There is strong support for auto-enrolment (AE) from small and medium sized enterprises (SMEs), whether they have already staged or not, according to YouGov research for The People’s Pension.

Over two thirds (70%) of SMEs that had already staged thought AE was a good thing for their employees, while half (50%) thought it was a good thing for their business.

The survey also found...

Small plumbing firms face personal bankruptcy because the law forces them to pay for pensions of people who never worked for them. Many are family-owned businesses with no limited liability protection and will lose their homes and everything they have. They are on the brink of nervous breakdown or worse.

Ruined financially for doing the right thing: These plumbing...

February 2017

Change of tune? Less freedom, less choice