‘Unprecedented’ consolidation of UK DC could see providers gain £1.5bn

first_img“The schemes involved are not simply going to be smaller master trusts set up to handle auto enrolment that will not meet upcoming capital adequacy requirements,” he said, “but will include many smaller employer-run DC schemes that will be looking to use the economies of scale and higher quality governance and administration available via a master trust in the face of rising compliance costs.”Smart Pension is not the only provider hoping to absorb smaller-scale DC providers, and IPE understands at least one other master trust in the market is including mergers with existing DC schemes within its business plan as a means of growing its asset under management, in addition to attracting new inflows.TPR is fully aware of the problems associated size of the UK master trust market, and its executive director for regulatory policy, Andrew Warwick-Thompson, has previously questioned how it should best prevent further growth in the number of providers in the market.Nigel Waterson, the chair of trustees at master trust Now Pensions, has previously suggested TPR act as a “marriage broker” in bringing about consolidation in the market, which, as of April, had seen the launch of 100 master trusts, of which over 70 were active.The regulator has championed the idea of consolidation since then, proposing it should be able to merge schemes it deems “sub-standard”. The consolidation of the UK master trust market will see £1.5bn (€1.7bn) in assets shift between pension schemes, according to estimates by one provider.Master trust Smart Pension predicted that the consolidation would occur among over 6,200 schemes with fewer than 100 members, which manage assets of £1.3bn according to figures from the Pensions Regulator (TPR).It added that a further £400m could also shift as around 20 established master trusts struggle to cope with new capital requirements the UK government has pledged to impose on multi-employer defined contribution (DC) schemes in an effort to avoid the cost of disorderly wind-ups being met by savers.Peter Walker, COO of Smart Pension, said the pensions market was set to see “unprecedented” movement within the market over the next two years as funds consolidate.last_img read more

LIVE BLOG: Wisconsin vs. Indiana

first_imgWelcome to the Herald Sports live blog! I’m Mike Fiammetta, and I’m here at the Kohl Center with Herald Sports editor Elliot Hughes.We’re set for what’s sure to be a fantastic night of hoops as the No. 25 Badgers (16-5, 5-3) are set to host the No. 16 Indiana Hoosiers (16-4, 4-4) in a conference battle with plenty at stake in the Big Ten race.Wisconsin is coming off a strong performance on the road Sunday that resulted in a 67-63 win over Illinois. Point guard Jordan Taylor continued his stellar play of late, dropping 19 points while pulling down nine rebounds and dishing out five assists. Taylor’s improved play since the non-confernese season and early Big Ten play has been vital to the Badgers, who are now riding a 4-game win streak.Indiana, meanwhle, has seen its fortunes fade in January, where the Hoosiers are 3-3. Despite losing three of their last four games, the Hoosiers do have a tendency to be somewhat tricky on the road. IU is 3-3 on the road this season, though the Badgers have, as usual, been hard to beat here at the Kohl Center. Despite losing two games at home earlier this season, Wisconsin has rebounded with a 10-3 home record.Tonight’s matchup will be a a battle of clashing strengths, as Wisconsin boasts the Big Ten’s (and the nation’s, at that) stingiest scoring defense at 49.6 points allowed per game. Indiana, meanwhile, is the conference’s top scoring offense (No. 15 in the country) at 79.8 points per game.Anyway, thanks for joining us on the live blog below (we’ll also be on Twitter @BHeraldSports) and have a great Thursday night.<a href=”http://www.coveritlive.com/mobile.php/option=com_mobile/task=viewaltcast/altcast_code=cb9541f7ae” >Wisconsin vs. Indiana</a>last_img read more

Shohei Ohtani pitches in Angels’ intrasquad game, looks rusty

first_imgOhtani was limited to designated hitter duties in 2019 after he returned from Tommy John surgery in May. For Ohtani the pitcher, Tuesday’s atmosphere was his most game-like since the Sept. 2018 start that put half of his unparalleled two-way career on hold.Ohtani began facing live hitters in May. Angels manager Joe Maddon cautioned against expecting any pitcher to replicate his typical mid-season form in a practice environment. Angels’ Shohei Ohtani spending downtime working in outfield Angels’ poor pitching spoils an Albert Pujols milestone For example, Ohtani was allowed to continue pitching to Anthony Rendon after hitting him in the backside with a pitch in the third inning. A portable screen behind catcher Jason Castro prevented runners from advancing on what might normally be wild pitches. When Ohtani reached his pitch limit for the first inning in the middle of an Albert Pujols plate appearance, the inning simply ended.“I’m glad to get through my pitches that I was supposed to pitch without any physical problems,” he said through an interpreter. “I’m very satisfied.”Ohtani said he threw all his pitches, among approximately 50 in all. Now he’ll take “three or four more days to recover” before getting back on a mound.Related Articles Angels offense breaks out to split doubleheader with Astros Jose Suarez’s rocky start sinks Angels in loss to Astros center_img “There’s nothing to be concerned about, or alarmed” with Ohtani, Maddon said. “He just did not have good rhythm with his delivery.”Sign up for Home Turf and get exclusive stories every SoCal sports fan must read, sent daily. Subscribe here.TESTING CONCERNSMonday, the firm contracted to Major League Baseball for coronavirus testing didn’t arrive to collect the necessary samples from Angels employees, and a team-wide morning workout became an optional afternoon workout.Getting tested wasn’t an issue for the Angels on Tuesday. For at least one player, however, Monday’s no-show raised major concerns.“Someone has dropped the ball somewhere in Major League Baseball’s office and it’s putting our best players at risk,” pitcher Ryan Buchter told MLB Network Radio on SiriusXM. “It’s putting all of us at risk.”The Angels aren’t alone in grappling with testing issues. Tuesday, the San Francisco Giants announced they were canceling their workouts because they had not received the result of tests administered Saturday. The Nationals cancelled their workout Monday because they still had not received the results from Friday’s tests.“Our staff here with Anaheim is doing a tremendous job,” Buchter said. “Our trainers are, I’m sure, overworked and just getting the crap beat out of them. Our front office is putting out a good message and they’re trying to keep everybody upbeat. The coaches are taking every measure possible, you know, walking around with constant gloves on masks. Really covering themselves carrying sanitizer. Everybody seems to be doing their part. And then we come to where MLB has really dropped the ball in the testing process.”ABSENT ANGELSAdd pitchers Jose Suarez and Patrick Sandoval, and two-way player Jared Walsh, to the list of Angels who are not participating in summer camp activities. Maddon could not say why they are absent.Teams are prohibited from giving information about coronavirus-related absences without the player’s consent. Players also could be missing simply because they haven’t yet received results.Maddon didn’t provide an update about pitcher Julio Teheran, who has been absent from the outset of camp. He was placed on the 10-day injured list Monday along with pitchers Jose Suarez and Dillon Peters, and second baseman Luis Rengifo. None of their injuries were disclosed. The same is true of Matt Thaiss, who wasn’t on the field again Tuesday but has not been placed on the injured list.“I have not heard anything,” Maddon said of Teheran, who was expected to begin the season in the Angels’ rotation. “I have not heard from him specifically and I have not heard from the medical group either. For me, there’s been no contact.”ALSOLeft-hander Andrew Heaney, who is scheduled to start Opening Day in Oakland on July 24, pitched four intrasquad innings. Brian Goodwin hit a ball over the yellow right field stripe for a two-run home run, the only runs on Heaney’s ledger. … Jo Adell, the consensus top prospect in the Angels’ organization, saw time in center field and rapped out what would have been an infield single in his first plate appearance. … Dylan Bundy and Griffin Canning will be the opposing pitchers in a six-inning intrasquad game Wednesday. … Every player present for the Angels’ reserve camp at Long Beach State’s Blair Field was invited to the intrasquad game. … The Angels signed Werner Blakely, their fourth-round pick in the June amateur draft. The high school shortstop from Michigan received a $900,000 signing bonus, according to MLB.com’s Jim Callis. All four of their draft picks are now under contract. ANAHEIM – The old normal was the new normal at Angel Stadium for an afternoon.Shohei Ohtani threw three innings in the Angels’ first intrasquad game of summer camp. The stands were empty, save a section in left field full of printed-out fan headshots. The public-address system played music on a continuous loop. The home plate umpire was Tim Buss, the Angels’ quality assurance coach.Only the players and uniforms looked as they normally do, but such is baseball at the moment. For the Angels, seeing Ohtani pitch would have to suffice.Throwing exclusively from the stretch, Ohtani was predictably rusty. He faced 10 batters and walked seven of them. Ohtani agreed his command was off, but it’s hard to measure how much since some normal rules weren’t enforced. Angels’ Mike Trout working on his defense, thanks to Twitter Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more