Pension bosses under fire for ‘overconfident’ account of Truss-triggered LDI crisis September 11, 2023 Pension bosses have come under fire from experts today after giving an “overconfident” assessment of their role in tackling the crisis that engulfed the sector in the wake of Liz Truss’s disastrous mini-budget last year.
Rishi Sunak dodges commitment to pensions ‘triple lock’ in Tory manifesto September 11, 2023 Rishi Sunak has dodged a commitment to include the pensions ‘triple lock’ in the next Tory election manifesto. The Prime Minister now risks a backlash from his own MPs who will worry about turning off older voters in the general election. It comes amid reports ministers could consider a cut to benefits ahead of voters [...]
Firms must up pension payments to defuse ticking ‘time bomb’, City veteran warns September 10, 2023 A “pensions time bomb” is set to explode in the UK if firms do not ramp up their contributions to pension pots, a top investor has warned.
Dame Alison Rose: Ex NatWest boss handed £2.4m pay package August 23, 2023 Former NatWest boss Dame Alison Rose’s pay package – reportedly £2.4m – has been branded a “sick joke” by Nigel Farage. Dame Alison quit her high-profile role as boss of NatWest, which also owns private bank Coutts over her handling of Farage’s account closure – which sparked a ‘debanking’ scandal. NatWest Group issued an RNS [...]
Public firms could be allowed to extract £50bn from staff pension schemes in bid to boost investment August 21, 2023 Public firms could be permitted to withdraw up to £50bn from staff pension schemes if government plans for a sweeping shake up of the industry’s rules go ahead. Returns on investments in government bonds – known as gilts – have seen workplace pension schemes go from being well in the red to significantly cashed up [...]
Sunak commits to triple lock hinting pensions could rise by eight per cent August 17, 2023 Rishi Sunak has signalled that state pensions could go up next year by almost eight per cent as he committed to maintaining the “triple lock”. Under the triple lock, the state pension is uprated in April by inflation, wages or 2.5 per cent, whichever is higher. Wage growth is currently the highest of the three [...]
IP Group boss: There have never been more stakeholders calling for Mansion House reforms August 2, 2023 Reforms to boost investment in the UK’s high-growth companies have support from across the sector, the boss of a FTSE 250 IP Group told City A.M. “There have never been more stakeholders across the sector – be it regulators, capital providers, the stock exchange and companies – saying that this is something which is important,” [...]
Wave of pension mergers looms as Hunt presses on with reform July 24, 2023 A wave of consolidation is coming in the UK’s pension sector as bigger master trusts guzzle up smaller peers and the government throws its weight behind reform, a top UK pension chief has predicted.
PensionBee hails momentum as assets surge to £3.7bn July 20, 2023 PensionBee hailed “excellent momentum” in the first six months of the year today as it closes in on profitability for the first time this year. In its first half results today, the London-listed fintech firm said its assets under administration had rocketed 38 per cent to £3.7bn while adjusted losses narrowed to £8m, down from [...]
Smart Pension snaps up £750m peer as government calls for consolidation grow July 17, 2023 Top workplace pension firm Smart Pension has snapped up a peer with some £750m under management as pressure from the government grows for faster consolidation in the sector.