Reeves proposes pensions overhaul to spur growth & more…Keep up with what has been happening this week in our latest IP news round-up…

Reeves proposes pensions overhaul to spur growth

The shadow chancellor plans to revamp the UK’s pensions industry by redirecting retirement savings towards supporting UK businesses and encouraging greater scheme consolidation.

XPS completes the sale of National Pensions Trust to SEI

XPS Pensions Group plc announces that following receipt of necessary regulatory approvals, it has completed the sale of XPS Pensions (Nexus) Limited, principal employer and scheme funder of the National Pensions Trust, to SEI® creating a market leading defined contribution proposition for employers and pension scheme members.

Climate change scenarios in public service pensions valuations

GAD has included climate change scenario analysis in public service pension scheme (PSPS) valuations to illustrate potential implications for schemes.

World Economic Forum reveals biggest business risks

Economic downturn, inflation and falling social cohesion rank among the biggest risks to major businesses in the next two years, according to the World Economic Forum.

Health of UK DB schemes has reached a positive turning point

The health of UK DB schemes has reached a positive turning point, according to analysis by Hymans Robertson of DB pension schemes submitting valuations in 2022.