Latest news with #LCP
Yahoo
3 days ago
- Business
- Yahoo
VSGG Debuts Vietnam's First Esports Intelligence Platform to Lead Data-Driven Gaming Era
HO CHI MINH CITY, Vietnam, June 20, 2025 /PRNewswire/ -- As 2025 becomes a milestone year for Vietnamese esports, VSGG, the first locally developed esports platform tailored to Vietnam's rapidly expanding gaming community, is emerging as a key driver of industry innovation. This launch follows significant regional developments, including the unification of LCP (League of Champions Pacific) with its inaugural finals scheduled in Vietnam this September. Meanwhile, Vietnam is also a strong contender in Arena of Valor at the upcoming Southeast Asian Games in December. VIRESA has affirmed Vietnam's strategic role in shaping Southeast Asia's esports future. Amid this momentum, VSGG is redefining the esports landscape with an all-in-one platform integrating data, match tracking, analytics, live streaming, news, and fan interaction for enthusiasts and professionals. A Platform Engineered for the Esports Ecosystem VSGG aggregates live and historical data across top-tier esports titles, including League of Legends, Dota 2, Counter-Strike 2, Arena of Valor, and Honor of Kings. Core features include: Comprehensive Match Data & Live AnalyticsPre-match insights on team histories and player statistics, in-game win probabilities, and real-time event tracking for analysts, coaches, and fans. Unified Match Schedules & Streaming Connecting multiple streaming platforms, offering a centralized experience for ongoing matches across regions. Localized Esports JournalismPowered by a dedicated editorial team and global media partners, VSGG delivers up-to-the-minute news in Vietnamese to bridge the global-local information gap. Predictive Engagement Through prediction, community chat, and real-time voting, users can engage deeply with ongoing matches while testing their game knowledge. Proven Engagement with Gaming Influencers VSGG has activated large-scale campaigns in partnership with popular figures in the Vietnamese gaming community, including Dota 2 influencers 23 Creative VN and Superhieu, and LOL Pros such as Penguin, Zodiac, and Spot. The "Top tipster" campaign generated over 1 million engagements, showcasing strong demand for data-driven esports experiences. Driving Esports Innovation in Vietnam "Vietnam is not just a rising esports market, it's becoming the region's data and content hub," said a VSGG spokesperson. "Our mission is to empower teams, players, and analysts with the tools they need to perform at the highest level." VSGG welcomes partnerships with media, tournament organizers, teams, and content creators to enhance its capabilities and coverage. VSGG is committed to building an esports ecosystem that supports Vietnam's competitive ambitions on the global stage. For partnership inquiries or further information, visit Contact: branding@ View original content to download multimedia: SOURCE VSGG Sign in to access your portfolio
Telegraph
10-06-2025
- Business
- Telegraph
500,000 more pensioners at risk of losing winter fuel payments under Labour
An extra half a million pensioners could lose their winter fuel payments by the end of the decade, new analysis suggests. Rachel Reeves was forced into a humiliating about-turn on Monday after announcing pensioners with incomes of less than £35,000 a year would be eligible for the benefit. It means an extra 7.5 million pensioners will receive the payment, worth up to £300, this year. But experts point out 500,000 of these will lose the payment by 2030, as rising incomes collide with the payment. Officials at the Department of Work and Pensions (DWP) refused to comment on Monday on whether the threshold would be increased in line with inflation or the so-called 'triple lock' each year. Government sources told The Telegraph that no more detail would be provided until the next Budget, when the measure will be evaluated by the Office for Budget Responsibility (OBR). If the threshold remained the same, more pensioners would become ineligible each year as their annual incomes increased. Sir Steve Webb, former pensions minister and partner at pension consultants LCP, said: 'The Government's own figures clearly suggest that they expect the number of losers from the new policy to rise each year. 'With around two million pensioners currently over the £35,000 threshold, this number could easily rise by another half a million by 2030. 'This could end up being another way in which governments use inflation to quietly raise additional revenue year-by-year.' This is not the only form of fiscal drag faced by taxpayers. The income tax thresholds have been frozen until 2027-2028, which will drag more than one million taxpayers into paying additional rate tax. This phenomenon, known as 'fiscal drag', represents a huge stealth tax raid. Income tax thresholds have been frozen since 2021-22, dragging millions of taxpayers into the income tax net for the first time, or into higher brackets. The additional rate threshold was initially frozen at £150,000 before being reduced to £125,140 in 2023. HM Revenue & Customs (HMRC) data via a Freedom of Information request showed that the number of people aged 65 and over paying the top rate of tax more than tripled from 44,000 in 2021-22 to an estimated 137,000 in 2025-26. Sir Steve also questioned the Government's numbers on how much the changed policy would save the Exchequer. He said: 'Our analysis also suggests that the new policy will raise less money next year than the headline figure quoted of £450m. 'Assuming an initial yield of around £350m, roughly two thirds of this will be wiped out by higher pension credit costs. The net revenue from the policy is likely to end up barely a tenth of the amount banked by the Chancellor when she presented her last Budget.' While the Government said that the policy measure would save £450m, it also said that it expected to spend £1.25bn on the payments. Adding the figures together, this would have meant a total saving of £1.7bn if the Chancellor had not reversed the policy. But figures published in last year's Budget suggest that the first time the policy came close to raising £1.7bn was in 2029-2030. In the House of Commons on Monday, shadow secretary for work and pensions, Helen Whatley, said that the policy would save as little as £50m. She added: 'After all this, the savings for the Treasury this coming year may be as little as £50m.' Ms Whatley described the about-turn as 'the most humiliating climbdown a Government has ever faced in its first year in office'.
Telegraph
05-06-2025
- Business
- Telegraph
Reeves hands herself ‘dangerous' powers to control pension pots
Rachel Reeves has granted herself 'dangerous' new powers to direct where millions of savers' pension cash is spent. The Government's Pensions Bill includes sweeping provisions that will allow the Chancellor to force pension funds to invest in private equity, debt and land in an attempt to boost the UK economy. Details of the new legislation were published on Thursday. The Government has insisted that savers' interests will always be put first, with mandating powers only serving as a backstop to ensure investment in British assets. However, Sir Steve Webb, a former pensions minister, said: 'Legislating to allow governments to tell pension schemes how to invest is a very dangerous precedent. 'Whilst ministers offer assurances that this is just a backstop power that they hope not to use, the precedent has been set. This Government or a future government could use a power of this sort to promote their own political agendas, potentially to the detriment of pension savers.' Sir Steve, who is now a partner at Lane, Clark and Peacock (LCP), said the law left the door open to sweeping changes that could destabilise the market. The former Liberal Democrat MP said the powers could be used by a future Reform government to instruct funds to abandon 'woke' investments, including net zero, for example. Sir Steve said: 'We already have trustees whose job is to make sure that the member interest is protected, based on expert advice over things like investment strategy, and these decisions should be beyond the reach of politicians – of whatever party'. 'Very bad precedent' A so-called sunset clause in the Bill means the power to mandate investment expires at the end of 2035. However, Sir Steve pointed out that this still left the door open for a new government to instruct pension funds to invest in a whole range of assets. While a separate clause suggests a review of the powers 'must be conducted before the end of the period of five years beginning with the day on which the regulations come into force', Sir Steve said this would still be well into the next Parliament. 'As long as the sunset clause hasn't set, as it were, it is a power sitting there on day one. So a new government could come in, it doesn't need to consult, it doesn't need to draft legislation, and it doesn't need to spend nine months getting it through parliament. It's there and ready to run,' he said. The Bill, published on Thursday, hands the Government powers to 'prescribe' investments in 'private equity', 'private debt', 'venture capital' and 'interests in land', which it continues to say are just 'examples' of asset classes. The Government can also instruct whether those investments 'link an asset to economic activity in the United Kingdom' or even more directly are 'located in the United Kingdom'. Richard Tice, the deputy leader of Reform, has repeatedly said he will scrap 'net stupid zero' policies if the party forms the next government. Sir Steve said the party could use the Pensions Bill to partly reshape the investment landscape in the UK. He said: 'The Government has just given themselves powers to tell pension schemes how to invest. And these powers appear to run for at least five years from the passing of the Bill. So Nigel Farage may get to use them, right? 'So just imagine we have a Reform government that's not big on woke. And they say: oh we've got an act of parliament that already allows us to tell pension schemes they can't invest in net zero. 'The Government giving itself power to tell schemes how to invest, is just a very, very bad precedent.'
Yahoo
05-06-2025
- Business
- Yahoo
Bill to create pension ‘megafunds' and tidy up ‘micro' retirement savings pots
Reforms 'tidying up' pensions by building 'megafunds' and sweeping away 'micro' retirement pots are contained in a parliamentary Bill. The Pension Schemes Bill will create 'bigger and better pension funds' and combine smaller pension pots, the Government said. Many people build up several small pensions that can be hard to keep track of as they switch jobs. The Bill will bring together micro pension pots worth £1,000 or less into one pension scheme. For people approaching retirement, the Bill will require schemes to offer clear default options for turning savings into a retirement income. There will also be new rules creating multi-employer defined contribution (DC) scheme megafunds of at least £25 billion, using economies of scale to invest in a wider range of assets. The Government said defined benefit (DB) pension schemes will also have increased flexibility to 'safely' release a surplus worth collectively £160 billion, to support employers' investment plans and benefit scheme members. Work and Pensions Secretary Liz Kendall said: 'The Bill is about securing better value for savers' pensions and driving long-term investment in British businesses to boost economic growth in our country.' Chancellor Rachel Reeves described the legislation as 'a game changer'. Pensions minister Torsten Bell said: 'Pension saving is a long game, but getting this right is urgent so that millions can look forward to a higher income in retirement.' Sir Steve Webb, a former Liberal Democrat pensions minister who is now a partner at LCP (Lane Clark & Peacock), said: 'Whilst there are many worthy measures in the Bill, the biggest omission is action to get more money flowing into pensions.' He continued: 'This issue is unfortunately on the back burner. Measures such as consolidating tiny pension pots are helpful tidying up measures, but do nothing to tackle the fundamental problem that millions of us simply do not have enough money set aside for our retirement. 'With every passing year that this issue goes unaddressed, time is running out for people already well through their working life to have the chance for a decent retirement.' Patrick Heath-Lay, chief executive of People's Partnership, provider of the People's Pension, said: 'The Bill contains many measures that will require providers to deliver better outcomes for savers and improve the workplace pension system. 'We are encouraged by the introduction of default consolidator schemes, which will be the most effective way to solve the dormant small pots problem.' Andy Briggs, CEO of Phoenix Group, said: 'The Bill sets a clear direction for the future of pensions with the emphasis on building scale and ensuring savers receive value for money.' Ian Cornelius, CEO of Nest, said: 'We believe that large, well-governed schemes can drive great outcomes for their members by using their scale and expertise to diversify where money is invested, and gain access to attractive investment opportunities not available to smaller investors at low cost.' Nausicaa Delfas, chief executive of the Pensions Regulator, said: 'Making sure all schemes are focused on delivering value for money, helping to stop small, and often forgotten pension pots forming, and guiding savers towards the right retirement products for them, will mean savers benefit from a system fit for the future.' Michelle Ostermann, chief executive of the Pension Protection Fund, said: 'We will support the Government and policymakers as the Bill progresses.' Rocio Concha, director of policy and advocacy at Which?, said: 'Pensions have become far too complex and fragmented, so it's good to see the Government taking steps to simplify them and ensure schemes provide value for money. 'Which? has campaigned for years for the consolidation of small pots, so we are delighted that this Bill is seeking to do just that – a move that will provide greater value for savers and support them to keep track of their pensions.' Yvonne Braun, director of policy, long-term savings, at the Association of British Insurers, said: 'This wide-ranging Bill is set to usher in the most large-scale pension reforms since auto-enrolment. The details will be crucial and we will scrutinise the Bill to ensure it puts the interests of savers first. 'We also urgently need to tackle the level of pension contributions which are too low to create an adequate retirement income for many. We urge government to set out the details of its adequacy review as soon as possible.'
Yahoo
04-06-2025
- Business
- Yahoo
Bill to create pension ‘megafunds' and tidy up ‘micro' retirement savings pots
Reforms 'tidying up' pensions by building 'megafunds' and sweeping away 'micro' retirement pots are contained in a parliamentary Bill. The Pension Schemes Bill will create 'bigger and better pension funds' and combine smaller pension pots, the Government said. Many people build up several small pensions that can be hard to keep track of as they switch jobs. The Bill will bring together micro pension pots worth £1,000 or less into one pension scheme. For people approaching retirement, the Bill will require schemes to offer clear default options for turning savings into a retirement income. There will also be new rules creating multi-employer defined contribution (DC) scheme megafunds of at least £25 billion, using economies of scale to invest in a wider range of assets. The Government said defined benefit (DB) pension schemes will also have increased flexibility to 'safely' release a surplus worth collectively £160 billion, to support employers' investment plans and benefit scheme members. Work and Pensions Secretary Liz Kendall said: 'The Bill is about securing better value for savers' pensions and driving long-term investment in British businesses to boost economic growth in our country.' Chancellor Rachel Reeves described the legislation as 'a game changer'. Pensions minister Torsten Bell said: 'Pension saving is a long game, but getting this right is urgent so that millions can look forward to a higher income in retirement.' Sir Steve Webb, a former Liberal Democrat pensions minister who is now a partner at LCP (Lane Clark & Peacock), said: 'Whilst there are many worthy measures in the Bill, the biggest omission is action to get more money flowing into pensions.' He continued: 'This issue is unfortunately on the back burner. Measures such as consolidating tiny pension pots are helpful tidying up measures, but do nothing to tackle the fundamental problem that millions of us simply do not have enough money set aside for our retirement. 'With every passing year that this issue goes unaddressed, time is running out for people already well through their working life to have the chance for a decent retirement.' Patrick Heath-Lay, chief executive of People's Partnership, provider of the People's Pension, said: 'The Bill contains many measures that will require providers to deliver better outcomes for savers and improve the workplace pension system. 'We are encouraged by the introduction of default consolidator schemes, which will be the most effective way to solve the dormant small pots problem.' Andy Briggs, CEO of Phoenix Group, said: 'The Bill sets a clear direction for the future of pensions with the emphasis on building scale and ensuring savers receive value for money.' Ian Cornelius, CEO of Nest, said: 'We believe that large, well-governed schemes can drive great outcomes for their members by using their scale and expertise to diversify where money is invested, and gain access to attractive investment opportunities not available to smaller investors at low cost.' Nausicaa Delfas, chief executive of the Pensions Regulator, said: 'Making sure all schemes are focused on delivering value for money, helping to stop small, and often forgotten pension pots forming, and guiding savers towards the right retirement products for them, will mean savers benefit from a system fit for the future.' Michelle Ostermann, chief executive of the Pension Protection Fund, said: 'We will support the Government and policymakers as the Bill progresses.' Rocio Concha, director of policy and advocacy at Which?, said: 'Pensions have become far too complex and fragmented, so it's good to see the Government taking steps to simplify them and ensure schemes provide value for money. 'Which? has campaigned for years for the consolidation of small pots, so we are delighted that this Bill is seeking to do just that – a move that will provide greater value for savers and support them to keep track of their pensions.' Yvonne Braun, director of policy, long-term savings, at the Association of British Insurers, said: 'This wide-ranging Bill is set to usher in the most large-scale pension reforms since auto-enrolment. The details will be crucial and we will scrutinise the Bill to ensure it puts the interests of savers first. 'We also urgently need to tackle the level of pension contributions which are too low to create an adequate retirement income for many. We urge government to set out the details of its adequacy review as soon as possible.' Sign in to access your portfolio
