All Department for Work and Pensions (DWP) articles – Page 10
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NewsMaps signs ID verification deal for dashboards programme
On the go: The Money and Pensions Service has signed a £1.8m deal with Dutch outfit Digidentity to provide an identity service for its Pensions Dashboards Programme.
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NewsTimms questions compensation cap on Financial Assistance Scheme
On the go: Stephen Timms MP, chair of the Work and Pensions Committee, has written to pensions minister Guy Opperman seeking clarity over the compensation cap placed on the Financial Assistance Scheme.
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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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NewsPension ages need a rethink as life expectancy falls
On the go: The government should rethink its plans to increase the state pension age as life expectancy estimates show a further decline, according to a former pensions minister.
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NewsPMI warns majority of savers will be caught out by pension age rise
On the go: The majority of people impacted by the rise in the normal minimum pension age are unaware it is happening, the Pensions Management Institute has warned.
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NewsWebb calls on govt to delay increase in state pension age
On the go: The government’s plans to increase the state pension age from 66 should be delayed because we are not living as long as previously expected, according to research.
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NewsPLSA flags dashboard issues as project announces potential partners
On the go: The Pensions Dashboards Programme has partnered with three commercial dashboard providers with which to work during its initial testing phase, while the Pensions and Lifetime Savings Association has published an A-Z guide highlighting 26 key issues that it believes are required to make the dashboards project a success.
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NewsTPR urges trustees to ensure climate advisers have the right skills
On the go: The Pensions Regulator has warned that trustees must ensure their climate advisers are appropriately skilled and provide relevant and helpful advice.
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NewsState pension age rises could be changed as govt launches review
On the go: The government has launched a review of the state pension age to see whether the way it manages the cost is fair to taxpayers and pensioners.
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NewsNest Insight trials new self-employed savings pilots
On the go: Master trust Nest’s research arm will be taking part in two pilots, which will test new forms of flexible saving for self-employed individuals.
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NewsDB schemes’ surplus falls by £33bn in November
On the go: The aggregate surplus of the 5,215 defined benefit schemes in the Pension Protection Fund 7800 Index fell by £33.1bn in November.
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NewsNest to break even in 2024 and eyes loan repayment by 2038
On the go: Master trust Nest is expected to break even in 2024, two years ahead of previous forecasts, and anticipates it will repay the loan from the UK government by December 2038, according to its latest annual report.
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NewsOpperman urges asset managers to increase stewardship practices
The minister for pensions and financial inclusion has written to 44 asset managers urging them to comply with recent stewardship recommendations, which would allow schemes to have a more active voice in these matters.
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NewsShadow pensions secretary appointed in reshuffle
On the go: Jonathan Ashworth, Labour MP for Leicester South, has landed the role of shadow work and pensions secretary, as part of a reshuffle of the shadow cabinet.
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NewsGovt to remove performance fees from DC charge cap
The Department for Work and Pensions has launched a consultation that will seek out policy proposals to exclude investment performance fees from the defined contribution charge cap.
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NewsHow will the new pension transfer restrictions work?
The new pension transfer rules coming into force on November 30 will bring added duties for pension scheme trustees, and will not be a panacea to prevent scams, specialists warn.
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NewsStatement season could put 10.6m pension savers at risk
On the go: Some 10.6m pension savers could see their financial information fall into the hands of fraudsters if the government goes ahead with its plans for a statements season, PensionBee has warned.
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NewsPension lawyers support superfunds as ‘Plan B’ for DB schemes
On the go: A large majority of pension lawyers believe that superfund transfers will become a strong consideration for defined benefit schemes with weak sponsors, as an alternative to the Pension Protection Fund or bulk annuity transactions, research has shown.
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NewsConcerns of ‘capacity crunch’ at Maps as scam rules come into force
On the go: Concerns have been raised about MoneyHelper and the Department for Work and Pensions’ preparedness for a flurry of enquiries when the new anti-scam rules come into force next week.
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NewsDC consolidation and small pots limit can reduce value for money
A combination of the flat fees charging ban on pots worth less than £100 and an increase in consolidation schemes could reduce members value for money, the Pensions Policy Institute has warned.