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...The so-called pensions lifeboat takes over the assets and liabilities of failed companies’ pension schemes....
...of EnnisKnupp, a consultancy that works with pension plans....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...The UK’s top financial regulator is facing a fierce backlash from the government and City executives over its plan to “name and shame” companies under investigation more frequently and at a much earlier...
...“However, we have given our backing to Thames Water’s latest business plan,” it said....
...Our plan is that workplace pensions would be attached to a worker and go with them when they change job....
...No regulated advice or guidance (which is free from the government-backed Pension Wise service) was sought for 37 per cent of income drawdown plans taken out in the 2022-23 tax year....
...For decades the plans — which promise guaranteed pensions calculated on salary and length of service — formed the bedrock of British workplace pension provision....
...On one hand, leading one of the world’s biggest pension plans should be incredibly desirable....
...Employers’ access to billions of pounds of surpluses in UK company pension funds would be eased under proposals set out by the government on Friday....
...That’s a big driver of a parallel trend in the other direction that has seen a record number of US companies paying to offload their closed pension plans to insurers while rates are high....
...About 20 states have also set up defined contribution plans for workers at small companies and the self-employed....
...Access to about £225bn in surplus funds held in traditional-style company retirement plans is to be made easier for thousands of employers under measures set out by the UK government....
...Membership of workplace pensions has grown by more than 10mn since reforms requiring employers to automatically enrol staff into company retirement plans came into force in 2012 with around £116bn invested...
...company....
...The plan is designed to alleviate pressure on a pension system that is expected to come under huge strain in the next few years as a whole generation of “baby-boomers” born in the 50s and 60s enters retirement...
...“We know that as we live for longer, we need to work for longer,” she said, adding, “we’ve got no plans to lower the state pension age.”...
...The California Public Employees’ Retirement System has named a former top executive at the New Zealand sovereign wealth fund to direct the largest US public pension plan’s investments following the abrupt...
...Today schemes like the Ontario Teachers’ Pension Plan rank among the largest and most sophisticated institutional investors in the world....
...Last year, chancellor Jeremy Hunt announced plans to relax the tax charge on surplus funds extracted by employers from company pension plans, with the changes to come into effect in April....
...Employers are not obliged to pay into a pension plan chosen by their workers....
...In his Budget, Hunt confirmed new measures that require local authority pension funds and private sector retirement plans to disclose their UK investments....
...Ian Cook, chartered financial planner at Quilter Cheviot, warns: “You could be artificially building perceived security in your plans, only to find that you face a significant tax bill later in life.”...
...The City of London Corporation, which has collaborated with the government to channel long-term capital from pension funds into UK companies, said the chancellor’s new pension measures would “turn the dial...
...Industry-level aggregate data from the Pension Protection Fund shows that UK defined benefit pension plans invested 10 per cent of their equity allocations into domestic listed companies in 2022, down from...
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