Law & RegulationRSS

PPF confirms 2019/20 levy at £500m

On the go: The Pension Protection Fund has confirmed that the levy it expects to collect for the 2019/20 year is £500m, down from the £550m estimated for 2018/19.

UK pension deficit could increase by £219bn in a hard Brexit

On the go: A no-deal Brexit could see the aggregate buyout deficit of UK pension funds rise by as much as £219bn (37 per cent), according to Cardano. 

CMA upholds competition judgment on consultants and fid mans

On the go: The Competition and Markets Authority has published its final report into investment consultancy and fiduciary management, maintaining its finding of an adverse effect on competition in both sectors.

TPR prosecutes accountant suspected of fraud

On the go: An accountant is to appear in court charged with fraud and making employer-related investments.

Government fires ‘starting gun’ on superfund deals

A government consultation published last week will allow the UK’s commercial defined benefit consolidators to press ahead with their first deals, it has been claimed, although some experts say questions remain over how the businesses can be prudently regulated.

Field calls for swift action from TPR on Johnston pre-pack

On the go: Chair of the Work and Pensions Committee, Frank Field MP, has written to the Pensions Regulator with serious concerns about the possible 'dumping' of pension liabilities using a pre-pack deal.

DWP expects superfunds to have 99% probability of success

On the go: The Department for Work and Pensions has outlined its thinking on the regulation of commercial defined benefit consolidation vehicles in a consultation, removing a major hurdle to scheme sign-up.

PMI report predicts just 20 master trusts in five years’ time

On the go: There will be no more than 20 master trusts in five years’ time, according to an influential report from the Pensions Management Institute, which predicts the new master trust authorisation regime will lead to widespread consolidation and collaboration.

BT section must stick to RPI, Court of Appeal says

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BT has lost an appeal seeking to allow it to downgrade the inflation protection given to some of its defined benefit members.

DWP maintains £10,000 earnings threshold for 2019-2020

On the go: The Department for Work and Pensions has announced that the earnings threshold for auto-enrolment into a workplace pension is to be frozen at £10,000 for 2019-2020.