Cambridgeshire County Council Pension Fund has mandated its largest participating employer to detail member contributions, in order to more effectively monitor late payments to the scheme as new reporting requirements come into play.
The creation of national and local advisory boards for the Local Government Pension Scheme is expected to improve engagement and representation for members, but could lead to increased cost for compliance.
The Association of British Insurers has called for a second line of defence for people who do not take up guidance, to ensure they are buying an appropriate product at retirement.
The wider-than-expected definition of default funds in the government’s draft regulation could mean the charge cap applies to multiple funds at a scheme, hiking governance requirements expected of managers.
NAPF Annual Conference 2014: Senior industry figures have called for independent governance committees to be more like trustee boards in their activities, to protect member interests.
Schemes are being advised to assess the cost of completing an annual valuation of asset-backed contributions, after the Pension Protection Fund announced non-property ABCs will be considered in levy calculations.
Industry experts have called for the standardisation of pension scheme information, in the style of the uniform pension overviews found in the Netherlands.
Lothian Pension Fund has completed the first full year of governance reforms designed to increase representation for stakeholders and strengthen processes.
Employers may be liable to pay increased compensation relating to pension loss to employees dismissed unfairly, lawyers have warned, after a tribunal appeal found an earlier decision had miscalculated the sum owed to an NHS scheme member.
Consultants have again predicted greater interest in transfers out of defined benefit schemes following the proposed removal of inheritance tax on pension pots, while others doubted the changes would have much impact.