Law & RegulationRSS

New funding proposals threaten ‘the demise of DB schemes’

Chris Ratcliffe/Bloomberg

New defined benefit funding rules may lead to “potentially severe outcomes”, consultancy LCP has warned, while Mercer has predicted that the regulations would “accelerate pension liability buyouts and the demise of DB schemes”.

Govt to change civil servants’ early pensions access

Luke MacGregor/Bloomberg

The government has proposed to change the rules around early access to pensions in the civil service, tracking 10 years behind state pension age, according to a new consultation over reforms to the Civil Service Compensation Scheme.

Ombudsman orders employer to rectify incorrect contributions

News on the go

On the go: The Pensions Ombudsman has ordered an employer to pay contributions into an employee’s Nest pension, more than three years after deductions had been made from his pay.

MaPS unclear on origin for half of amber flag scam warnings

News on the go

On the go: Nearly half (44 per cent) of scam guidance sessions in the past three months have been triggered despite the Money and Pensions Service not knowing why the amber flag was raised to begin with, according to data obtained via freedom of information act request by Quilter.

FBU receives more than 750 ‘immediate detriment’ claims

News on the go

On the go: The Fire Brigades Union has received more than 750 ‘immediate detriment’ claims since June 6, despite being told by the Fire Chiefs’ Council that it should hold off applying immediate detriment until legislation is introduced next year.

Members or fraudsters? Take action now to weather the dashboard storm

Spencer Lynch

GBG's Spencer Lynch issues a call to arms on the pensions dashboard initiative.

Govt rejects appeal to make NHS scheme tax-unregistered

iStock

The government has rejected a petition to make the NHS pension scheme tax-unregistered, arguing that the loss of tax-relief and lump sums “would not benefit the vast majority of members”.

Railpen stands by investment in Chinese government debt

Getty Images

The manager of the Railways Pension Scheme has stood by the scheme's decision to invest in Chinese government bonds in 2021, despite allegations of human rights abuses committed by the country's government.

Schemes struggle to educate members amid cost of living crisis

Podcasts

Podcast: Society of Pensions Professionals president Steve Hitchiner is joined by AgeWage chief executive Henry Tapper, founder of the Pension Playpen, to discuss recession fears, consumer protection for dashboards and expanding long-term asset funds.

Calls for stewardship code to engage members as well as managers

News on the go

On the go: The Financial Reporting Council’s stewardship code must “look both ways” and engage members as well as asset managers in developing guidance and standards, according to fintech company Tumelo.