In future Royal Mail will be seen as the harbinger, not some isolated outlier on the pensions landscape. Those who bewail the potential for … Source link
Read More »GMB Union joins firefighters and doctors in seeking Judicial Review over pensions
GMB Union has launched a Judicial Review against the Treasury over its use of the cost control mechanism on public sector pension schemes. The announcement comes amid similar moves by the British Medical Association (BMA) and Fire Brigades Union (FBU). GMB claimed that, since 2015, more than four million people …
Read More »Royal Mail to offer additional contributions for CDC scheme lump sum payments
Members of the Royal Mail Collective Pension Plan (RMCPP) who choose to save for an additional lump sum payment will receive an extra 1 per cent in employer contributions, its half-year report has revealed. The RMCPP will comprise a collective defined contribution (CDC) section and a defined benefit lump sum …
Read More »News in brief – 19 November 2021 – Pensions Age Magazine
Royal Mail to offer additional contributions for CDC scheme lump sum … Royal Mail to offer additional contributions for CDC scheme lump sum … Source link
Read More »Equiniti : EQ Awarded Pension Scheme Administrator Of The Year 2021 At The European Pensions Awards
The European Pensions Awards recognise the pension providers that have set the professional standards in order to best serve European pension funds over the past year. EQ recognised for supporting clients, and the continuity of service through the COVID-19 pandemic, as well as innovation in digital-first technology to support scheme …
Read More »Royal Mail consults on CDC scheme proposals
Royal Mail has launched a consultation on the Royal Mail Collective Pension Plan, seeking views from CWU, Unite, employees of Royal Mail Group and employees of RM Property and Facilities Solutions Limited currently in the Royal Mail Pension Plan (RMPP). Under the proposals, those who have been with Royal Mail …
Read More »‘Real potential’ for multi-employer CDC schemes in UK
There is “real potential” for collective defined contribution (CDC) schemes to take off in the UK through master trusts, according to Willis Towers Watson (WTW) director and senior consulting actuary, Shriti Jadav. Speaking at the Trades Union Conference (TUC) Pensions Conference, Jadav commented that while CDC schemes were likely to …
Read More »Royal Mail DB Cash Balance Scheme deficit rises by over £100m
The Royal Mail Defined Benefit Cash Balance Scheme (DBCBS) deficit has grown to £177m as at 31 March 2020, up from £72m at 31 March 2019. The scheme, which has been in place since 1 April 2018, is a transitional arrangement until Royal Mail’s proposed collective defined contribution (CDC) scheme …
Read More »TPO upholds refusal to pay complaint against Royal Mail
The Pensions Ombudsman (TPO) has upheld a complaint against the Royal Mail Statutory Pension Scheme (RMSPS) over a refusal to pay complaint. ‘Mr Y’ complained that the scheme had refused to pay a full deferred pension to him upon retirement, stating that the RMSPS management team (RMSPS MT) was only …
Read More »TPO upholds RPI/CPI complaint against Thales UK
The Pensions Ombudsman (TPO) has upheld a complaint against Thales UK Pension Scheme over concerns relating to the index used to calculate annual increases on scheme benefits. The scheme announced on 29 September 2016 that it intended to increase scheme benefits annually based on the consumer prices index (CPI), rather …
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