Law & RegulationRSS

Fraudster forced to repay £274k to workplace scheme

News On the Go

On the go: A convicted fraudster has been ordered to pay back £274,000 he had stolen from a workplace pension scheme.

Govt to tighten guidance rules for accessing pensions

News On the Go

On the go: The Department for Work and Pensions plans to require providers of workplace pensions to signpost guidance whenever savers look to access or transfer their pots.

Rolls-Royce warns regulators about spike in transfer numbers

News On the Go

On the go: The Financial Conduct Authority has issued a data request to financial advisers involved in defined benefit transfers from the Rolls-Royce pension scheme, after the company warned regulators about high activity in this area.

Calls for retirement estimates to be dropped from first dashboards

Pension schemes and administrators have requested that the first version of the pensions dashboards run without the inclusion of estimated retirement income data, due to the lack of data and standards for these calculations.

SNP revives pensions commission in bill amendment

News On the Go

On the go: Two Scottish National party MPs have tabled an amendment to the pension schemes bill to set up a new pensions advisory commission.

Larger DB schemes face £100bn bill due to new regulations

The impact of new regulations in the pension schemes bill and the future defined benefit funding code will mean that sponsors of the UK’s largest schemes will have to fork out £100bn over the next 10 years, according to new analysis from LCP.

DWP still keeping millions in the dark over loss of GMP top ups

Millions of people are still unaware of the loss of a valuable indexed guaranteed minimum pension benefit to their state pension since 2016, as the Department for Work and Pensions still has not complied with an Ombudsman ruling to inform the public of this deprivation.

Govt pushes back against dashboard scam protections

News On the Go

On the go: The government has moved to reverse an amendment to the pension schemes bill that sought to exclude all financial transactions from the pensions dashboard to protect savers from scams.

APPT launches new code of practice for sole trustees

News On the Go

On the go: The Association of Professional Pension Trustees has set out a code of practice for trustees carrying out sole trustee appointments.

Philip Green 'disliked the Pensions Regulator immensely'

News On the Go

On the go: Fallen businessman Dominic Chappell told Southwark Crown Court of Philip Green’s intense dislike of the Pensions Regulator, and promises made to plug the deficit of BHS pension schemes.