All Department for Work and Pensions (DWP) articles – Page 11
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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.
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NewsIs social policy essential for schemes to promote change?
Integrating environmental, social and governance credentials into pensions has become increasingly common, yet deciding whether schemes should adopt a specific policy on social matters has become a point of contention.
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NewsPension videos could boost guidance take-up, govt told
On the go: Videos could help encourage up to 60 per cent of people to take up the government’s free pensions guidance offer, a response to a Work and Pensions Committee inquiry has claimed.
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NewsRoyal Mail finalises CDC contribution rates
On the go: The Royal Mail’s new collective defined contribution plan will have a fixed employer contribution of 13.6 per cent, as well as a standard employee contribution of 6 per cent, the group confirmed on Thursday.
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OpinionWhat’s going on with the statements season?
Tim Gosling, head of policy at B&CE, provider of The People’s Pension, explains why it is imperative for the government to start a dialogue with the industry and savers about the new statements season.
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NewsMore than 200,000 savers on the hunt for missing pensions
On the go: More than 200,000 people have contacted the government to ask for help locating their missing pensions, just as the dormant assets scheme gears up to expand into retirement savings.
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NewsGovt rejects Lords’ attempt to retain state pension triple lock
On the go: The House of Commons has rejected proposed amendments from the House of Lords to retain the earnings element of the state pension triple lock next year.
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NewsTisa calls for pension decumulation policy reform
On the go: The Investing and Saving Alliance is calling on regulators and the government to reform pension decumulation policy that will impact four main areas.
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NewsCoffey: Pensions a ‘superpower’ to combat climate change
On the go: The full power of pensions needs to be used to reduce climate risk in savers’ portfolios and help push the UK towards achieving net zero in the future, work and pensions secretary Thérèse Coffey has urged.
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NewsDWP proposes fraud compensation levy increase for all pension schemes
The Department for Work and Pensions is consulting on changes to the fraud compensation levy, which will see pension schemes pay more than double the current fee as pension scam claims rise.
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NewsMaps told to reform Pension Wise in govt-backed report
On the go: The Money and Pensions Service has been urged to look into how commercial companies could be used to deliver Pension Wise guidance as part of a government-backed report looking at how the organisation can be improved.
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NewsRegulators to push forward with preparations for dashboards
On the go: The Pensions Dashboards Programme has confirmed that its partner organisations, including the Financial Conduct Authority and the Pensions Regulator, are set to begin work on progressing the dashboards programme.