first_imgThe Pensions Regulator (TPR) has begun surveying the occupation defined contribution (DC) market to ascertain the prevalence of exit fees and charges, sometimes charged to members looking to transfer out.The UK government is to begin consulting on how to address excessive early exit fees placed on members, and improve the transfer process for DC savers – particularly in light of the new freedoms.TPR will question a sample of DC trust schemes, while the Financial Conduct Authority (FCA) has written to insurance-based DC providers seeking similar information.The regulator said the information would complement its work with DC schemes on how they adapt to offering flexible retirement options, now that annuitisation is no longer compulsory. In other news, the Pensions Infrastructure Platform (PIP) has secured more than £1bn (€1.4bn) in pension fund assets to be directed towards UK assets.The outfit, created and managed by the National Association of Pension Funds (NAPF), said the two specialist funds managed by Dalmore Capital and Aviva Investors secured nearly £650m in capital, alongside a further separate mandate.In its half-yearly update, the PIP said it agreed a separate £370m co-investment alongside Dalmore Capital, but the NAPF declined to provide further details on the investment, or which schemes were involved.The PIP is continuing to work towards authorisation from the FCA to set up the platform to become a not-for-profit asset manager and make direct infrastructure investments on behalf of UK funds.Meanwhile, the defined benefit (DB) deficit at private sector schemes has fallen over the month of June to £259bn, according to JLT Employee Benefits.The marginal fall of £6bn came as the result of a slight pick-up in yields bringing down liabilities by £63bn to £1.48trn.Asset values also fell by £57bn, providing the slight improvement in funding levels.Over the last 12 months, however, the situation has worsened, with funding levels falling from 87% to 83%, while liabilities are 11% higher.Asset values, now a total of £1.22trn, have also risen 5.6%.last_img read more

first_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: Mominul Haque could be termed as Bangladesh’s accidental captain. The left-hander, who has never led even a domestic team, has been thrust into the role of Bangladesh skipper for the upcoming two-Test series against India in dramatic circumstances. Mominul became the captain of the Bangladesh side in the aftermath of Shakib Al Hasan’s two-year ban (one of which is suspended) for failing to report bookie approaches during the last three years. Mominul will captain Bangladesh for the two Tests against India, one of which will be a historic Day-Night Test at the Eden Gardens. Speaking to reporters on his arrival in India, Mominul said he was not ready at all for the role of captain but relished a challenge with Virat Kohli, the Indian cricket team skipper.”I was not ready at all. It was completely unexpected. I never thought even in my dreams that I will be the captain of Bangladesh or I will captain the Test side. I am very excited as I think Virat Kohli is the best player in the world, the best batsman in all formats combined. Thinking about that makes me feel good,” Mominul said.The second match will mark the inaugural day-night Test between the two sides, in Kolkata from November 22. Talking about playing his maiden day-night Test, Mominul said, “We have not played a Test under the floodlights and with the pink ball. It is a very good chance to play good cricket.”  Also Read | Shakib Al Hasan Appeals For Calm, Patience From Bangladesh Fans As He Opens Up On ICC SuspensionThe left-handed batsman, who has played 36 Tests and scored 2,613 runs for Bangladesh, however, said the innovation would not affect his game. “I never considered captaincy as pressure or responsibility. If I keep thinking that as a captain I have to take extra responsibility to carry the team forward then I will be under some pressure. But if I play my natural game, and think that I am a batsman who needs to score for his team, then it will not have any effect,” Mominul said.last_img read more