Law & RegulationRSS

DWP to announce DC reforms amid cost of living crisis

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The Department for Work and Pensions will be announcing a series of reforms to defined contribution saving, in an attempt to curtail the impact of the cost of living crisis.

Nuclear sector DB schemes reform to go ahead after 5-year delay

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The House of Lords has approved amendments to the energy bill that will allow the two nuclear public sector schemes to be reformed in line with government policy, five years after originally planned.

TPR overhauls DB funding in biggest shake-up for a decade

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CPD: Stephanie Hawthorne explains the regulator’s proposed new defined benefit funding regime and what changes schemes and sponsors can expect.

Govt refuses to commit to increase auto-enrolment contributions

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The government has refused to commit to increasing minimum auto-enrolment contributions, despite acknowledging that the current statutory contribution of 8 per cent is “unlikely to give all individuals the retirement to which they aspire”.

New DB funding code could cost employers up to £34bn

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The Pensions Regulator estimates that the defined benefit funding code could have a cost for employers of up to £34bn, which has prompted LCP to call on the government to give more time to sponsors to adjust to the new regime.

TPR delays investment data collection from DB schemes

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The Pensions Regulator will not be collecting data on fiduciary management and investment consultants from defined benefit schemes as part of its 2023 scheme return, which can present a “gap in compliance”, experts have warned.

FCA launches retirement income advice review

News on the go

On the go: The Financial Conduct Authority is to review the level of advice consumers are receiving from independent financial advisers on meeting their income needs in retirement.

LDI funds sold £23bn of gilts during market turmoil

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Liability-driven investment funds sold £23bn of gilts in three weeks during the market turmoil in 2022, with pooled funds being forced sellers, Andrew Bailey has revealed.

TPR urges trustees to support DC savers amid economic challenges

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The Pensions Regulator has said savers must be supported during current economic volatility amid concerns the value of some defined contribution pots has fallen.

David Fairs leaves TPR to ‘pursue new challenges’

News on the go

On the go: David Fairs is leaving his role as executive director of regulatory policy, analysis and advice at the Pensions Regulator in March this year.