Law & RegulationRSS

Clarity on dashboards, but delays taint Pension Schemes Act

The government fought off opposition amendments to the Pension Schemes Act in the House of Lords on Tuesday, keeping its dashboards options open — but experts have warned that many of the act’s more substantive changes could be delayed until 2022.

Biden and EU to act as ESG ‘catalyst’ for UK schemes

Joe Biden (teaser)

The confluence of Joe Biden’s inauguration as US president this week and a new raft of rules from the EU in March will serve as a catalyst for the development of environmental, social and governance standards, experts have said.

New pensions act offences have ‘far-reaching consequences’, LCP warns

News On the Go

On the go: New powers granted to the Pensions Regulator by the Pension Schemes Act could see directors, lenders and trustees made criminally liable for their mistakes, LCP has warned.

Flat fees ban is a ‘sticking plaster’ on small pots wound

The Department for Work and Pensions’ proposed ban on flat fees on pots under £100 should be seen as a temporary stopgap, not a permanent solution to the small pots problem, industry figures have warned.

FCA releases DB transfer advice assessment tool

News On the Go

On the go: The City watchdog has released an assessment tool to help financial advisers understand whether the defined benefit pension transfer advice they have given was suitable.

New DB funding code could be delayed until 2022

Calendar (teaser)

The Pensions Regulator has issued an interim response that experts say could presage meaningful changes to the final version of the defined benefit funding code, which is likely to be delayed until 2022.

DWP to ban flat fees for small pots

DWP

The Department for Work and Pensions is to ban the charging of flat fees on pension pots under £100 in an attempt to stop their erosion by charges and administration costs.

Opperman guarantees none of TPR’s new powers will be retrospective

News On the Go

On the go: The minister for pensions and financial inclusion has guaranteed that the Pensions Regulator’s new criminal sanctions and information-gathering powers will not be applied retrospectively.

Nest to boost private market holdings by 6%

News On the Go

On the go: Nest is to expand its private market holdings from 9 per cent to 15 per cent by March next year, with its investments in illiquids and infrastructure assets expected to exceed a fifth of its £13bn portfolio.

Govt moves to include pensions in dormant assets scheme

News On the Go

On the go: Pensions will be included in the government’s extension of the dormant assets scheme, despite previous concerns that life savings should be excluded due to “significant changes” in recent years.