All Administration articles – Page 7
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NewsBuck launches ‘gap analysis’ governance solution
On the go: Buck has launched a new “gap analysis” governance tool designed to help schemes navigate the Pensions Regulator’s forthcoming combined code of practice.
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NewsWeir scheme and Capita to pay member after GMP blunder
The Weir Group Pension and Retirement Scheme, along with its former administrator Capita, have been ordered by the Pensions Ombudsman to pay a member £2,000 over the poor handling of his transfer value information.
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NewsGPs can file late applications to cover tax bills after pressure
On the go: NHS staff have been given the option to make a late application to have their scheme cover annual allowance tax bills after the industry warned that many GPs would not have completed paperwork in time.
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NewsAviva apologises after sending pension transfer email in error
On the go: Aviva has apologised to financial advisers and their clients after it sent an email in error about an “impending pension transfer”.
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NewsMadeline Forrester appointed PPI chair of council
On the go: The Pensions Policy Institute has appointed Madeline Forrester as its new chair of council.
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NewsCivil Service Pension Scheme looks for new admin
On the go: The Cabinet Office is weighing up administrators for the Civil Service Pension Scheme.*
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NewsPrudential reports itself to regulator over AVC failings
Prudential reported itself last year to the Pensions Regulator, as a perfect storm of IT problems and coronavirus-led disruption pushed customers looking to cash out their additional voluntary contributions into long delays.
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NewsGovt proposes ‘find and view’ dashboards amid public sector delay
The government will be moving forward with the ‘find and view’ functionality on pensions dashboards from launch day, despite industry concerns about the size of the task ahead, while it acknowledged that public sector schemes will only be onboarded in 2024 due to the “considerable work” caused by the McCloud remedy.
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NewsOmbudsman cracks down on trustees with new anti-scam unit
The Pensions Ombudsman has launched a new specialist team dedicated to investigate breaches of trust, and allegations of dishonest and fraudulent behaviour by pension scheme trustees.
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NewsTPR to accept CDC applications from August
The Pensions Regulator has published its draft code of practice governing authorisation for collective defined contribution schemes, and is set to begin accepting applications from August.
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NewsMPs warn of further state pension errors in scathing report
The Public Accounts Committee is calling for the government’s state pension payment system to be overhauled and underpayments to be treated more seriously, while warning that other errors could still be unidentified.
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NewsMPs support CDC development, call for DWP to scrap statement season
In a wide-ranging report, the Work and Pensions Committee has recommended that the government continue its work on collective defined contribution schemes and, separately, scrap the proposals for a “statement season” favoured by pensions minister Guy Opperman.
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NewsDWP tweaks 'stronger nudge' in response to industry complaints
The Department for Work and Pensions has announced several changes to its proposed “stronger nudge” in response to industry concerns, with the aim being to lessen the burden of administering them.
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NewsThe Pension SuperFund revamps executive structure
On the go: The Pension SuperFund has announced the appointment of a new chief executive officer as part of a governance shakeup as it awaits authorisation from the Pensions Regulator.
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PodcastsPodcast: DC focus must ‘fundamentally shift’ from costs to value in 2022
Podcast: The focus on defined contribution scheme offerings must “fundamentally shift” from costs to value for money in 2022 if better outcomes are to be achieved. Darren Philp, director of policy and communication at Smart Pension, and Mike Ambery, partner at Hymans Robertson, discuss the DC outlook, expanding auto-enrolment, and reforming Solvency II.
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NewsAccess pool criticised by LGPS board over policy failings
Investment pool Access has earned the ire of the Local Government Pension Scheme Advisory Board, having failed to implement a policy on member representation that was decided in 2017.
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NewsParliament moves to ban flat fees on small pots
On the go: Regulations have been laid before parliament that will see flat fees banned for pots of under £100, which the government hopes will benefit hundreds of thousands of savers.
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NewsCorporate services company acquires trustee firm PTL
On the go: Zedra, a corporate services and fund solutions company, is expanding its UK pensions offering with the acquisition of trustee firm and governance provider PTL.
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NewsPolice officers reiterate McCloud criticisms in consultation response
A campaign group representing police officers dissatisfied with the government’s handling of the 2015 public sector pension reforms have reiterated their complaints in response to the McCloud consultation, calling for the changes to be reversed.
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NewsMoD to reinstate Armed Forces Scheme member after scam transfer
The Ministry of Defence will have to reinstate a former member to the Armed Forces Pension Scheme and pay him £2,000 for severe distress and inconvenience, after wrongly allowing him to transfer to the Capita Oak Pension Scheme, a scam that invested in storage pods.