Weekly Roundup: Our time is running out

Calendar (teaser)

This week – Industry slams the DWP’s dashboards launch date proposals, more calls for clarity over TPR’s new enforcement powers, the BMA pushes for the expedition of the McCloud remedy and the introduction of pension recycling, and B&CE and a building company given a ticking off from the ombudsman.

Opperman: Employers should provide ‘rainy-day fund’ to keep staff

Guy Opperman

Pensions minister Guy Opperman has argued there is a need for employers to have a savings product offering, in addition to a pensions package, as a means of retaining staff. 

DWP’s dashboards consultation criticised over launch date proposals

iStock

A second government consultation into pensions dashboards has been criticised over plans to give schemes just 90 days’ notice before the dashboards go live, with experts warning of a capacity crunch.

AE levels out as employers seek change to age threshold

Chris J Ratcliffe/Bloomberg

Workplace pension participation is stalling after reaching a rate of 88 per cent of eligible employees last year, according to new figures from the Department for Work and Pensions.

Govt sets 2040 gender state pension gap goal

Chris Ratcliffe/Bloomberg

The government has revealed a goal of eliminating the gender state pension gap by 2040, while pointing to auto-enrolment as a tool to decrease the overall savings shortfall between men and women.

Comment

Inflation protection for pension scheme benefits

Robin Jakob

LPX AG managing director Robin Jakob explains how high inflation is posing a significant worry for defined benefit scheme investments and why core infrastructure can provide better protection.

What is on the horizon for the LGPS?

Michael Welford

Michael Welford, consultant and actuary at Quantum Advisory, considers the next steps for the Local Government Pension Scheme, with the results of its triennial valuation due later this year.

Unused legislative rule solves trustees drawdown conundrums

Nicola Rondel

Hogan Lovells counsel Nicola Rondel details how powers granted by the Finance Act 2004 to override scheme rules in specific circumstances have been successfully used by trustees in two drawdown cases.

Videos & Podcasts

LGPS faces affordability, engagement and policy challenges

Podcasts

Podcast: Pensions and Lifetime Savings Association’s head of defined benefit, LGPS, and investment Tiffany Tsang and West Midlands Pension Fund’s director of pensions Rachel Brothwood discuss new research into the Local Government Pension Scheme and what can be done to help employer members. 

Partial AE reform should be prioritised before long-term fix

Podcasts

Podcast: Sackers partner Helen Ball and Mark Ormston, chair of the Industry Policy Committee at the Pensions Administration Standards Association, discuss auto-enrolment, online safety and the proposed value for money framework.

CPD

The past, present and future of DB funding

Thithawat_s/iStock

CPD: Cartwright’s head of pensions strategy and scheme actuary Jonathan Seed details how defined benefit scheme funding has evolved over the years, while pointing out how schemes can prepare for new rules being introduced in 2023.

DC default funds: A members’ lottery regarding investment outcomes

Jodi Jacobson/iStock

CPD: Stephanie Hawthorne shines a light on defined contribution default funds, and questions if the workhorses behind auto-enrolment are fit for purpose.

Pensions dashboards – where are we now?

Aramyan/iStock

CPD: Sackers associate Shannon Diggory explains what steps schemes’ trustees and managers should be taking now to prepare for pensions dashboards.