Hints and tips:
...A UK government push to persuade local authority pension funds to plough billions of pounds into levelling up projects may conflict with trustees’ duty to secure the best returns for pensioners, one of Britain...
...The supervision of contributions is the responsibility of pension providers and the trustees of every pension fund....
...The current 8 per cent minimum is made up of a 3 per cent contribution from employers and 5 per cent from employees. This would at least wound two birds with one stone....
...At the end of 2022 there were around 27,000 UK DC pension plans, with 85 per cent reporting fewer than 12 members. UK pension plans’ investment remains heavily focused on listed equities and bonds....
...Under the plans, by 2030 the majority of workplace pension savers would be in funds of £30bn or larger, signalling a big shift in the pensions market....
...Local government pension schemes are funded through contributions from local authority workers and employers, with pension savers and taxpayers sharing the risk if investment returns are not as expected....
...And 95 per cent have fewer than 12 members, according to the Association of British Insurers, of which 84 per cent are executive pension plans rather than workplace schemes....
...As most of the 18mn people saving into workplace DC pensions stick with the default option, Hunt’s plans affect millions....
...Since 2021, trustees of the UK’s biggest pension schemes have been required to identify, assess, manage and disclose climate-related risks and opportunities....
...The final shape of Hunt’s plans — which will cover defined benefit, defined contribution and local government pension schemes with tens of millions of members — is due to be set out in his Autumn Statement...
...There is talk of consolidation of local authority pension plans, too, but this plan is also not very radical....
...“So having any kind of fixed allocation suggests putting another objective above the [pension] trustees’ focus, which is risk-adjusted returns.”...
...By 2030, the majority of workplace DC savers will have their pension pots managed in schemes of over £30 billion and by 2040 all local government pension funds will be invested in pools of £200 billion or...
...In the UK, the closest equivalents to Canada’s public pension plans are the Local Government Pension Schemes....
...The closest thing that the UK has to Canada’s public pension plans are the local government pension schemes, which are around 90 regional funds, and these are quite heavily invested in equities already and...
...Pension trustees have a legal responsibility to deliver the best returns for pension holders — it’s their money after all....
...So given wages growth has reached almost 8 per cent, that could mean an extra £10bn spent on the state pension next year on top of a whopping £124bn bill for it this year....
...The NHS is our biggest employer, and we will shortly publish the long-term workforce plan I promised in the Autumn Statement....
...Challenges of older populations include pressure on state pension schemes; strained national healthcare systems; potential hits to sovereign credit ratings; and pervasive labour shortages as employers struggle...
...Prime minister Élisabeth Borne said the government would start negotiations with labour unions, employers and other political parties with the aim of passing a broader pension law in the coming months that...
...Before I turn to our plans for schools and the NHS, I start with two other areas of spending. DWP The Department for Work and Pensions has a critical role in supporting people into work....
...annually — as well as a company pension plan....
...Above all, the median rate of contribution to DC pensions is a mere 8 per cent of earnings....
...SOC Investment Group, which works with union-sponsored pension funds holding about 1.8 million shares of SBUX, has called on Starbucks to review its succession-planning policy....
...Eric Trappier, head of the metals industry employers’ federation and chief executive of aircraft maker Dassault Aviation, says the pandemic has galvanised attempts to re-industrialise in France and reduce...
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