DB schemes could be ‘doomed to failure’ by new funding code
Ros recorded a podcast for PensionsExpert magazine talking about funding problems for DB schemes if the proposed new ‘low risk’ funding code is adopted – plus other topical issues.
Peers vote for separate regulatory approach to open DB schemes
Ros is quoted by IPE pensions magazine, explaining the importance of having a separate funding regime for open defined benefit pension schemes, rather than forcing closed and open schemes to all chase top quality bonds (which don’t actually match their liabilities anyway and entail much higher costs for employers and members). ( link to pdf )
What Horrified Fund Managers, Banks & UK’s Pension Minister Said About the Bank of England’s Sudden “We Don’t Rule Out” Negative Interest Rates
Wolf Street reports views from Ros and many fund managers about the problem of negative interest rates for pensions. ( link to pdf )
Hold off on rash pension decisions, say regulators
Professional Pensions magazine highlights the recent statements by financial Regulators that people should not make rash pensions decisions during the Corona virus crisis and Ros’ call for transfers to be put on hold is mentioned. (Subscription needed to view.)
FCA delays DB transfer rules update by up to 6 months
Pensions Age reports on the Regulator’s decision to allow DB scheme pension transfers to be delayed by up to 6 months. ( link to pdf )
Former pensions minister Ros Altmann calls for six-month pause on pension transfers
International Investment website carried Ros’ call for pension transfers to be put on hold for six months. ( link to pdf )
Former pensions minister Ros Altmann calls for six-month pause on pension transfers
Ros is quoted by Professional Adviser magazine calling for a six month ban on pension transfers. ( link to pdf )
Plumbing Pensions seeks approval to fund legal battles for s75 non-payments
Professional Pensions magazine highlights the news that the Plumbing Pension Scheme has applied to the Scottish Courts to be permitted to use scheme assets to defend any challenges to its handling of the scheme assets and failures to collect past Section 75 debts from departing employers, despite statutory obligations to do so. ( link to pdf )
‘Their house is on fire’: the pension crisis sweeping the world
The Financial Times quotes Ros in its analysis of problems for Defined Benefit pension schemes and impact of ultra-low interest rates on pensions.
Ros Altmann: Amber Rudd is right to issue pensions warning – here’s why
Amber Rudd gets tough on bosses who fail to fund pensions properly – Ros article in Yorkshire Post supporting her decision