The Court of Justice of the European Union has ruled that the cap imposed on benefits paid by the Pension Protection Fund is unlawful when it reduces the payments made to a saver by more than half.
Government hands industry reins on dashboard project
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September 5, 2018
Work and pensions secretary Esther McVey has said she "backs the industry" to deliver the pensions dashboard, but key details including whether the government will compel schemes to submit information remain unclear.
PLSA pitch for light-touch tender rules raises eyebrows
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September 3, 2018
The Pensions and Lifetime Savings Association has called for mandatory fiduciary management tenders mandates to be closed processes with no minimum number of applicants, but some experts have questioned whether the move would do anything to change the status quo.
Walking a fine line
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September 3, 2018
Editorial: Many pensions journalists have spent this week trying to uncover the names of the 14 schemes that have received letters asking them to consider cutting their transfer values.
Dromey: Government can use HPE contracts for pensioner justice
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August 28, 2018
The shadow pensions minister has called on ministers to leverage lucrative contracts it awards to Hewlett Packard Enterprise to persuade the company to protect pensioners who are seeing their benefits eroded by inflation.
Aegon not interested in scooping up failed mastertrusts
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August 24, 2018
Pensions provider Aegon has declared itself uninterested in buying mastertrusts that drop out of the market as a result of authorisation, aiming instead at the more lucrative single-trust defined contribution market.
Industry slams lack of detail on regulator's new powers
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August 23, 2018
Plans to reinforce the regulation of defined benefit schemes in the UK lack depth and may not have been able to prevent the pensions scandals that have rocked the industry in recent years, according to industry experts.
Industry right to reject death by Isa
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August 21, 2018
From the blog: MPs may have migrated to warmer climes to relax during the parliamentary recess, but the civil servants at HM Treasury have evidently been working away behind the scenes.
The product of that hard work through the summer months? A rumoured policy almost no one thinks is a good idea, the care Isa. Maybe the heat got to them.
The newest addition to an ever-expanding array of savings products, the care Isa (Crisa?), which according to The Telegraph is being considered for inclusion in the government’s upcoming social care green paper, would be exempt from inheritance tax.
Click here to read the full blog post
Scammers cut off
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August 20, 2018
Editorial: It is rare that pensions make it onto national TV these days, and even rarer that a government department or regulator produces an effective video campaign.
FRC review threatens to impact actuarial profession
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August 17, 2018
An advisory group to the government review of the Financial Reporting Council is to explore the extent to which actuaries should be subject to formal regulation in response to the pensions-related nature of recent corporate failures.