Keep up with what’s been happening this week in our actuarial news round-up…
Less than two weeks after the UK’s withdrawal from the bloc, the EU have made the decision to put The Cayman Islands, a British overseas territory on an EU blacklist of tax havens with 27 finance ministers expected to sign off on the decision next week.
Petrol and diesel car ban could affect pensions industry
A ban on new petrol, diesel and hybrid car sales will be brought forward from 2040 to 2035. This is likely to create a “ripple effect” across the pensions and asset management community, as pension trustees who fail to align with the transition to a low-carbon economy could see their returns suffer, warned Hymans Robertson actuarial consultant, Amy Sutherland.
Although RBS has had some issues in the past with their loss-making investment bank. The bank reported profits of £3.1bn for 2019 nearly double the amount of the year before. RBS chief executive Alison Rose called these results the “start of a new era” for RBS.
The Pensions Management Institute (PMI) have announced the launch of APTitude ‘Accreditation for Professional Trustees’, the accreditation programme which was designed to build credibility and raise governance standards across the pensions industry.
After the chancellor’s shock exit, Rishi Sunak, who is the new Treasury boss has said the “no self-respecting minister” could agree to the Prime Minister’s terms and that he (Sunak) had “lots to get on with” after the chancellor’s departure, with a Budget due in a month.