Pension Protection Fund’s Post

📢 VIDEO UPDATE: Tayside Pension Fund Mis-Advice Revealed! 📢 Beat The Banks has revealed that a significant number of employees in the Tayside Pension Fund have been mis-advised, resulting in massive financial losses. These final salary pensions, offering substantial benefits, were wrongfully transferred, causing losses in the hundreds of thousands. A total of 41 employers allow their employees to join the Tayside Pension Fund. We continue to uncover multiple cases of inappropriate advice that have led to both current and former employees suffering considerable financial losses. Watch our first video update on this issue to learn more and stay informed. Read more here: https://lnkd.in/dXsgNkJX #TaysidePensionFund #FinancialAdvice #PensionScandal #BeatTheBanks

As the government conducts its pension review, CEO of Schroders and CMIT member Peter Harrison spoke on a panel at the CMIT conference about the measures that need to be in place for effective reform. You can read CMIT - Capital Markets Industry Taskforce’s response to the Pensions Review here: https://bit.ly/4eNiEVD   “The FCA is looking at advice but unless we have an advised population in the UK, we’re never going to get our savings culture right, that’s number one. Secondly, we already have one of the largest sovereign wealth funds in the UK in LGPS, we just don’t think of it that way. It has £400bn of assets and if we thought of it as a sovereign wealth fund we’d probably invest it differently.”   When discussing how to incentivise more pension fund investment in the UK economy he noted, “we give tax advantage of £48bn to pension saving in this country every year. We do not think about that as a massive investment in the UK, we think of it as a tax advantage for pension saving, I think we need to turn it on its head. I really think that if we’re going to think about pensions then we need to think about tax”.

Creating pensions that can provide a decent retirement is arguably the most difficult of all long-term investment planning. In the first of our Defined Contribution Pensions Series publications, we outline the relative merits of different life-cycle investment solutions. #Susty

“The Impacting Investing Principles for Pensions have continued to provide a helpful framework in understanding impact through maintaining a focus on outcomes and providing an extra dimension when exploring managers’ propositions.” – Lloyd Whitworth, Head of Investment & Stewardship. Learn how Surrey Pension Team are utilising the Impact Investing Principles in our case study (kindly put together by Pensions for Purpose) at 👇 https://lnkd.in/eJ9Hfz2P #ImpactInvestment #PensionsforPurpose #ProvidingOurCustomersWithABetterTommorrow 

🌟 Accounting for Sustainability (A4S), The Church of England Pensions Board and Railpen, worked together along with pension fund chairs, insurers and pension advisers to develop a Sustainability Principles Charter for the bulk annuity process! 📜 This Charter details four key principles to align expectations around sustainability within the bulk annuity process. 🌍 Cardano is a founding signatory of this Charter, which signifies a commitment to transparency, embedding sustainability into decision making, ongoing reporting to beneficiaries and/or trustees, and engagement across the sector as best practice evolves. 💼 If you work for a pension fund chair, are a pensions advisor, or in insurance - or you simply want to know more - click here: https://lnkd.in/gi9haVsr #SustainabilityCharter #PensionInvestments #SustainablePensions

Norrenberger Pensions published its 2023 corporate and pension fund audited accounts, providing a summary overview of its financial health and fund performance. This report provides a summary review and presents key financial highlights, financial ratios, fund performance, and the trend in the number of Retirement Savings Account (RSA) holders. https://lnkd.in/dtBEsa9S

Not sure if the dust has fully settled on the 'biggest pension reform in decades' yet, but without doubt it's going to have monumental ramifications for the industry. Whilst we're supportive of the direction of travel, and as a consolidating master trust we're in a strong position for the changes, some of it feels a bit like using a hammer to crack a nut: » Master trusts towards the middle of the spectrum (including ourselves) have been able to invest in private markets for years because of efficiencies elsewhere, including disrupting decades old pensions tech.  » Performance of some of the larger master trusts in the UK has been underwhelming - it feels a stretch to argue that scale correlates strongly to performance. » Forcing scale also doesn’t force schemes to invest more in private markets, nor in UK private markets. » As Andrew Cheseldine pointed out, there’s a risk it completely ignores the need for specialist defaults - the line could be blurred on many of these, as not all clients want or need the same thing. As a UK fintech, we’re always keen to invest in the UK, but this move doesn’t change the reason pension schemes haven't done so for the last decade or so. If pension schemes can see a strong long term growth trajectory with the right opportunities available, I'm sure we'd be happy to invest more in the UK. Overall it’s an exciting opportunity for us to continue to consolidate and build exciting investment solutions though, with further plans in private markets imminent. And definitely not averse to a bit more regulation of the consultant market (sorry to the consultants reading this!) https://lnkd.in/eamkUsjJ

A curiosity I've had over the years when speaking to pension professionals outside of the U.S. is the recoil (in horror!) they experience upon learning of the ~7.5 percent discount rates used by most public sector U.S. DB pension funds. While the rate certainly doesn't reflect the liability risk, it tracks remarkably well the historic returns generated by them. Is it fair to use a 2 percent rate (like is common in the Netherlands) given that any reasonable asset allocation should crush that over the long term? Why do many non-U.S. pension funds act as if their liabilities are like those of a bank, given that they face zero "run-on-the-bank" risk?

Mecke & Partner GmbH: Optimising taxes with the pension fund💫 There are always questions about pension fund buy-ins and the pros and cons. The most important key information is analysed below. https://lnkd.in/eg6-pP8m

📣 If you're responsible for the pension plans at your workplace, or you're interested in understanding how you can optimise your pension for retirement, and you missed our webinar, you can still grab the slides. Head to the website to download the presentation from finance specialists Peter Lane and Frederick Ortiz. In it, they discussed: 💸 How to maximise the tax benefits of pension planning 🏝 How much you really need to be able to retire 💰 How to manage the risk versus reward 🚀 The tricks that help investors retire earlier or wealthier 👌 How group pensions can be made easier or more cost-effective for employers To get your hands on your copy, follow the link: https://lnkd.in/ebzU-HvF #pensions #financialadvisor #financelondon