News in brief – 19 November 2021 – Pensions Age Magazine
[ad_1] Royal Mail to offer additional contributions for CDC scheme lump sum … Royal Mail to offer additional contributions for CDC scheme lump sum … [ad_2] Source link
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Equiniti : EQ Awarded Pension Scheme Administrator Of The Year 2021 At The European Pensions Awards
[ad_1] 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 members. EQ (Equiniti), a…
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Royal Mail consults on CDC scheme proposals
[ad_1] 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 for more than 1…
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‘Real potential’ for multi-employer CDC schemes in UK
[ad_1] 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 be made available for…
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Royal Mail DB Cash Balance Scheme deficit rises by over £100m
[ad_1] 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 is established upon the…
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TPO upholds refusal to pay complaint against Royal Mail
[ad_1] 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 prepared to pay the…
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TPO upholds RPI/CPI complaint against Thales UK
[ad_1] 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 than the retail prices…
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Pension provider response times have ‘stalled’ – Portafina
[ad_1] The fastest pension provider service times for both defined contribution (DC) and defined benefit (DB) schemes have “stalled” over the last few years, according to Portafina. It said that the lack of technological adaption is limiting improvements in speed. The firm stipulated that “until schemes move with the times and start accepting digital signatures…
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UK: Tens of thousands of university and college staff vote to strike
[ad_1] UK: Tens of thousands of university and college staff vote to strike Ballot follows strike votes by postal workers, railway conductors, airline pilots, NHS staff By Barry Mason 4 November 2019 The announcement October 31 of the result of ballots conducted by the University and College Union (UCU) reveals the determination of academic…
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CTI receives backing from UK pension schemes
[ad_1] Ten of the largest pension schemes in the UK have written a joint letter announcing their support for the Cost Transparency Initiative (CTI). The schemes endorsing the strategy, which includes the Royal Mail Pension Plan, Nest and the Universities Superannuation Scheme, represent over 19 million members who have more than £150bn in assets under…
