Law & RegulationRSS

Scrap ‘rotten’ taper altogether, former pensions ministers tell chancellor

Pressure is mounting on the chancellor to take action on NHS pensions, as two former pensions ministers on Wednesday called for the “fundamentally rotten” tapered annual allowance to be scrapped.

Link Pension Trustees receives record fine of £104k from TPR

News On the Go

On the go: The Pensions Regulator has fined professional trustee company Link Pension Trustees, a total of £103,750 for breaching multiple areas of pension law. This is the largest ever fine handed to trustees by the watchdog.

New parliamentary group looks at benefits of longevity

News On the Go

On the go: The new All Party Parliamentary Group for Longevity has outlined plans to introduce a national strategy for healthy longevity, focusing on the benefits – rather than the problems – of ageing.

Field blasts lack of support for plumbers faced with huge DB debts

Plumbing

The Work and Pensions Committee has warned the government that “much more needs to be done” to support small plumbing businesses being faced with potentially crippling debts to the industry’s multi-employer defined benefit scheme.

TPR outlines guidance plans in response to Rookes report

News On the Go

On the go: The Pensions Regulator has published its action plan in response to the British Steel Rookes review, outlining several steps designed to boost support and guidance for trustees facing restructure or changes.

MPs query Lloyds Bank chief executive’s high pension award

News On the Go

On the go: In a letter to Lloyds Banking Group, the chairs of two parliamentary select committees have questioned pension and share awards at the bank, following reports that chief executive António Horta-Osório has “voluntarily” given up a portion of his pension.

TPR works with Oxfordshire fund to fix admin woes

News On the Go

On the go: Ninety-nine per cent of active members of the Oxfordshire County Council Pension Fund have received a 2017-18 annual benefit statement, following regulatory intervention after no annual statements were issued for 2014-15.

Reform NHS pension rules or face walkouts, BMA warns

On the go: Senior NHS doctors will cut their working hours unless there is tangible reform to the health service pension scheme, the British Medical Association warned the Chancellor of the Exchequer on Thursday.

Government urged to force matching of voluntary contributions

The government should force employers to match voluntary pension contributions made above auto-enrolment minimums, according to investment platform Hargreaves Lansdown.

Government releases guidance on GMP equalisation

On the go: The Department for Work and Pensions has set out a 10-stage process for UK pension schemes to equalise guaranteed minimum pensions.