All Administration articles – Page 4
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NewsNational LGPS Frameworks appoints admin companies
On the go: The National Local Government Pension Scheme Frameworks has appointed a series of companies to provide pensions administration and operational support services.
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NewsProcurement bill introduces uncertainty for regulated schemes
Government attempts to introduce flexibility to simplified public procurement processes could have an impact on regulated pension schemes, which will have to deal with increased uncertainty as a result.
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NewsRailways scheme urges patience as it reviews early retirement
On the go: The Railways Pension Scheme is reviewing its early retirement factors and is advising members considering taking early retirement that they should wait until the review is completed before making their decision.
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NewsPASA bolsters cyber attack admin checklist amid crime surge
The Pensions Administration Standards Association has published a new cyber crime checklist, advising administrators to keep up to speed with legislation and assess their vulnerabilities to cyber attacks amid a spike in online criminal activity.
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NewsOmbudsman fines Cabinet Office and civil service scheme admin
The Pensions Ombudsman has partly upheld a complaint against the Cabinet Office and MyCSP, the administrator of the Civil Service Pension Scheme, after they failed to properly process a member’s request to cease payments to his “added years contract”.
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OpinionGetting ready for the pensions dashboards
Taylor Wessing’s pensions partner Anna Taylor details the latest developments with the pensions dashboards project and what trustees should be doing to get their schemes ready for it.
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NewsAltus and ITM move first on next stage of dashboards journey
On the go: Financial services software company Altus and platform technology specialist ITM have been confirmed as the first participants in the Pensions Dashboards Programme’s “Alpha” stage to move forwards to the next development stage.
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NewsPPF seeks admin and actuarial services company
On the go: The Pension Protection Fund has launched a tender to appoint a new company to join its specialist administration and actuarial services panel, which provides assistance to the lifeboat fund and schemes when they enter the PPF assessment period.
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NewsPASA publishes pre-employment guidance to deter fraudsters
On the go: The Pensions Administration Standards Association has published guidance on pre-employment checks for administrators, as it has been made aware of fraud cases undertaken or assisted by employees of these companies.
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NewsProfessional trustee market expected to grow and consolidate
Data crunch: The professional trustee market is expected to grow further over the next five years as up to 90 per cent of schemes make appointments, but the number of large companies is expected to almost halve, according to new research.
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NewsLGPS funds race to complete McCloud data remedy
Some employers are struggling to provide their Local Government Pension Scheme funds with the necessary information to complete the McCloud data remedy exercises.
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NewsGMP guidance ‘helpful’ but ‘could have gone further’ on conversion
The government’s supplementary guidance on guaranteed minimum pensions equalisation was broadly welcomed by the industry as it could save trustees “time and money”, but some have cautioned that the section on conversion will make little difference without legislation.
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NewsOverpayment woes at Teachers’ Pension Scheme continue
The Pensions Ombudsman has partially upheld two more complaints about overpayments to members of the Teachers’ Pension Scheme, the latest in a series of cases where the scheme and its administrators, Teachers’ Pensions, have faced accusations of maladministration.
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NewsHMRC to address GMP conversion tax issues ‘in the coming weeks’
The government has promised supplementary guidance on guaranteed minimum pensions conversion “in the coming weeks” and confirmed it is working on legislative changes, as the debate on the second reading of the pension schemes (conversion of GMPs) bill concludes in the House of Lords.
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OpinionA data with destiny
Jemma Jurgenson, head of administration at Quantum Advisory, asks whether the industry is ready for the arrival of pensions dashboards.
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NewsGovt admits errors in almost 20,000 NHS GP pension records
Health minister Edward Argar told parliament in March that there were nearly 20,000 NHS GP pension records in error, prompting the British Medical Association to call for an end to the outsourcing of NHS pensions administration.
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NewsPASA covers crossovers, tax and death benefits in GMP guidance
On the go: The Pensions Administration and Standards Association has launched guidance tacking frequently asked questions around guaranteed minimum pension equalisation, including tax implications, death benefits, commutation, and the ‘look-back’ approach for crossover members.
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NewsRegulator’s CDC plans risk strangling the sector at its birth
The Pensions Regulator’s draft code of practice for collective defined contribution schemes is unnecessarily strict and risks severely hampering growth in the sector, industry bodies have warned.
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NewsPlumbing Pensions to use member funds to fight section 75 claims
The Court of Session in Edinburgh has granted Plumbing Pensions permission to use member funds to defend against legal claims from employers over its pursuit of section 75 liabilities.
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NewsLGA calls for 2025 dashboards deadline amid capacity crunch fears
The Local Government Association has called for the staging date by which the Firefighters’ Pension Scheme is to join the dashboards to be set back, arguing that it is not feasible to expect the scheme to join before 2025.