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Tag Archives: pension

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 …

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‘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 …

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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 …

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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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Pension provider response times have ‘stalled’ – Portafina

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 …

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CTI receives backing from UK pension schemes

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 …

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Guest comment: Pensions Bill still some way off

2018 saw a raft of consultations rushed through as Guy Opperman, Minister for Pensions and Financial Inclusion, promised to deliver a Pensions Bill in 2019. The bill aims to bring an end to the tinkering with pensions for some time. However, initially expected in May, the bill has been repeatedly …

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