Latest news & announcements

Brunel Pension Partnership co-file a shareholder resolution at Barclays AGM, putting climate change centre stage for the banking sector

Institutional investors managing over £130bn including Brunel Pension Partnership, one of Avon Pension Fund’s investment managers, have filed a shareholder resolution at Barclays alongside over 100 individual shareholders. It will be voted on by investors at Barclays’ annual general meeting in May 2020.

This landmark resolution – the first climate change resolution filed at a European bank – requests that Barclays publishes a plan to gradually stop the provision of financial services to companies in the energy sector, and to gas and electric utilities that are not aligned with the goals of the Paris climate agreement.

No deal scenario Brexit guidance

On 15 February 2019, the Department for Work and Pensions updated two sets of guidance explaining the rights of UK nationals in the EU, and EU citizens in the UK, to benefits and pensions if the UK leaves the EU without an agreement (a 'no deal' scenario).

The guidance confirms in respect of both parties that “There is nothing in UK private occupational pensions legislation that prevents occupational pension schemes from making pension payments overseas. We do not expect that this will change as a result of the UK withdrawing from the EU.”

Pensions Regulator warns of fraudsters cold-calling

The Pensions Regulator (TPR) has warned of fraudsters who may be trying to steal the savings of workers by falsely claiming to be calling from The Pensions Regulator.

The TPR has received reports of pension holders being cold-called by individuals who have posed as TPR staff offering the workers a 'free pension review'. TPR have confirmed that this is a common warning sign of a scam as TPR never cold-calls individuals about their pensions. TPR has reported the cases to the Information Commissioners Office (ICO) for investigation and will also report any future cases.

High Court judgement removes requirement for co-habiting nomination form

A recent High Court judgement has removed the requirement for members of the Local Government Pension Scheme (LGPS) to nominate their cohabiting partner to receive a survivor’s pension in the event of their death.

The outcome of this case effectively removes the requirement for a co-habiting nomination form from regulations and enables a LGPS administering authority to pay a partner’s pension, to the partner (who meets the definition of co-habiting partner set out in schedule 1 of the LGPS Regulations 2013) of a deceased member who died without completing a nomination form, and who left active membership on or after 1 April 2008 and prior to 1 April 2014.

South West Pension Funds appoint independent chair

The South West Pension Funds have appointed Denise Le Gal as its Independent Chair of the £25 billion Brunel Pension Partnership Limited.

The Partnership is one of eight national pooled funds, and will oversee the investment of the majority of pension assets for Avon, Buckinghamshire, Cornwall, Devon, Dorset, Environment Agency, Gloucestershire, Oxfordshire, Somerset, and Wiltshire Funds.

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