All Department for Work and Pensions (DWP) articles
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NewsWASPI latest: Campaigners call on prime minister to hold compensation talks
Campaigners have asked the new prime minister and chancellor to discuss redress for 3.5 million women affected by failures to communicate changes to the state pension age.
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NewsTorsten Bell to remain as pensions minister following reshuffle
There will be continuity in the Department for Work and Pensions as Torsten Bell and Pat McFadden keep their roles following the cabinet reshuffle under new prime minister Andy Burnham.
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ArticleSurplus release: Time to put plans and policies in place
The Department for Work and Pensions, HM Revenue & Customs, the Pensions Regulator and the Financial Reporting Council are all working together to construct the surplus release framework for defined benefit pension schemes.
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NewsTrade bodies hit back as master trusts face planned 9% levy increase
A consultation on levy changes was published by the Department for Work and Pensions earlier this week, proposing significant increases in payments in an attempt to cover a rising funding shortfall.
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PodcastsAlways A Pensions Angle: SpaceX, Surpluses, and the Senior LGPS Officer
With SpaceX launching onto public markets with a $2trn-plus valuation, podcast co-hosts Tom Parker and Nick Reeve don their pension-themed spacesuits to explore some of the more pressing issues it raises.
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NewsDC assets to overtake DB as retirement saving transforms
Data from the Department for Work and Pensions shows how DC is expected to grow in the years ahead – but shrinking overall assets further emphasise the adequacy issue facing the sector.
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OpinionBetter admin is the key to improving retirement outcomes
Rory Murphy, former chair of the Merchant Navy Officers’ Pension Fund, calls for urgent action to raise administration standards and stop members from being negatively impacted by poor practices.
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NewsDWP to review flexible apportionment rules after Stagecoach-Aberdeen deal
The government plans to review rules permitting the transfer of defined benefit pension schemes from one sponsor to another in the wake of the landmark Stagecoach-Aberdeen deal.
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NewsSurplus release rules edge closer as DWP publishes consultation
The Department for Work and Pensions has launched its highly anticipated consultation on releasing surplus capital from overfunded defined benefit pension schemes, with rules slated to come into force next year.
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People NewsIndustry expert committee convened to work on fiduciary duty guidance
A former editor of Pensions Expert is among a 14-strong panel of industry representatives convened by the government to develop statutory guidance around fiduciary duty and investment decision-making.
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OpinionAMNT: Looking to the past for the future of trusteeship
Lewis Brown of the Association of Member-Nominated Trustees highlights the need to balance professionalism with the lived experience of members, as the government explores ways to raise standards of pension scheme governance.
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NewsLay trustees remain important as sector consolidates, government says
An external voice is needed “to ask the difficult questions that sometimes professionals either don’t want to hear or don’t quite understand”, says Des Healy of the DWP at a conference in Edinburgh.
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NewsMaster trusts should prepare now for scale requirements, TPR says
The regulator set out principles to help trustees evaluate whether their schemes are likely to meet the proposed scale thresholds and how they should evidence future growth.
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NewsSetting the scale test: How the DWP plans to get DC funds to £25bn
The Department for Work and Pensions has set out how it expects master trusts and other DC providers to hit the £25bn scale requirement set out in the Pension Schemes Bill.
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OpinionThe Friday Takeaway: Love me a tender
Could regulated tendering be the endgame for the DWP’s trusteeship consultation? Some in the industry seem to think so, writes Pensions Expert editor Nick Reeve.
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NewsTrade groups support ‘minimum standards’ for administrators
The administration standards body supports proposals to subject providers to minimum standards across risk management, continuity planning, and other areas.
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NewsIndustry wants formal processes for pro trustee appointments
Safeguards are needed for sole trustee appointments and to address conflicts of interest where professional trustee firms offer additional services such as administration or investment advice.
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NewsDWP explores ‘extended measures’ to combat pension scams
Pensions minister Torsten Bell has said the government plans to “strengthen protections and combat any areas of evolving risk”, with areas of focus expected to include transfer regulations.
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NewsTrusteeship standards face overhaul as DWP launches consultation
The Department for Work and Pensions has launched a consultation on improving standards of trusteeship, governance and administration across trust-based pension schemes, as consolidation accelerates and trustee responsibilities continue to expand.
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NewsFrom £160bn to £11bn: Government reins in surplus release estimate
Data highlighted by the Society of Pension Professionals shows that the government’s central estimate for capital released from DB surpluses is less than 10% of the £160bn it cited at the launch of the Pension Schemes Bill.