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Calls for pension reform ramp up ahead of general election


By Sophie Smith

Calls for pension reform are ramping up ahead of Thursday’s (4 July) general election, with industry experts stressing the need for any incoming government to make fundamental changes to the pension system, rather than "tinkering around the edges".

Labour’s plans for a pensions review have gained particular attention, prompting calls for any incoming government to address the existing pensions complexity and adequacy concerns


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NSK Pension Scheme completes £309m buy-in with M&G

The NSK Pension Scheme has completed a £309m buy-in with M&G, securing the defined benefit (DB) pension liabilities for around 3,700 members of NSK’s UK pension scheme

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Greater pension investments in UK assets expected post-election

Industry experts agree that UK pension schemes could be incentivised or even required to invest much more in UK assets post-general election, Cushon has found, with the debate increasingly focused on how far the incoming government will go on this issue

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Menzies Pension Fund completes £260m buy-in with Just Group

The Menzies Pension Fund has completed a £260m buy-in with Just Group, securing the benefits of around 3,000 members, including almost 1,400 pensioners and over 1,650 deferred members

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Schemes urged not to 'pause' endgame planning work amid election uncertainty

The general election should not mean schemes “pause” work on their endgame planning, LCP has warned, after its analysis showed that the combined IAS19 surplus of FTSE 100 defined benefit (DB) pension schemes remained "strong" at around £60bn as of 30 June

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Stronger nudge impact remains ‘disappointingly low’ two years in

The stronger nudge to pension guidance has had a “disappointingly low” impact since its introduction two years ago, data from the Money and Pensions Service (Maps) analysed by Quilter has found

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'Significant milestone' as L&G launches DC Private Markets Access Fund

Legal & General (L&G) has announced the launch of the L&G Private Markets Access Fund, designed to offer its 5.2 million defined contribution (DC) members the opportunity to access the benefits of diversified private markets exposure

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Taunton School pension scheme completes full buy-in with Aviva

Taunton School’s legacy defined benefit (DB) scheme has completed a full buy-in with Aviva for an undisclosed amount, securing the benefits of all members of the scheme
University DB scheme overspending hits £200,000 a year

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GMPF adopts pass-through voting

The Greater Manchester Pension Fund (GMPF) has announced its adoption of pass-through voting, in what it described as a "significant step" towards enhancing its responsible investment strategy
Saver confidence in retirement funds falls

Savers’ confidence in their retirement funds has returned to 2021 levels of 30.9 per cent, despite a previous increase to 31.7 per cent in 2022, research from Trafalgar House has found


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