The Pensions Regulator has issued a contribution notice to an individual in relation to the Carrington Wire pension scheme, but experts warn the amounts recouped will not match the benefits previously promised to members.
Any Other Business: The Bank of England last week came under scrutiny after details were leaked of a secret study on the financial impact of a decision to leave the European Union.
The age at which members can access their pension pots should be increased, according to a white paper, but some experts say those in ill health should not be held back from drawing their cash.
The resilience of UK pension schemes will be put to the test over coming months as Europe pursues its solvency and disclosure programme, though some have questioned who will bear the costs.
General election 2015: The Conservatives’ election triumph on Friday, alongside a near whitewash by the Scottish National party north of the border, has raised several questions about how the fallout will affect pensions.
The Supreme Court this week ruled against trustees of the Olympic Airlines SA Pension Scheme’s claim for greater Pension Protection Fund compensation, but lawyers are calling for a loosening of insolvency criteria for entry into the lifeboat.
Analysis: The double hit of a reduced lifetime allowance alongside proposed changes to tax relief could accelerate the move of higher earners, and some middle earners, towards alternative savings vehicles, experts predict.
Public sector pension funds are under pressure to compile their pension boards ahead of the August 1 deadline, but some report being “stretched” by the wait for guidance on the reform.
The Financial Conduct Authority has issued a consultation on transfers out of defined benefit schemes, but experts say a disparity between definitions of money purchase benefits could lead to confusion.
The National Association of Pension Funds has written to the government to demand clarification on the movement of non-default members between funds, to ease trustee uncertainty around charge cap regulations.