All Department for Work and Pensions (DWP) articles – Page 14
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NewsMPs urged to tweak 25% tax-free cash rules
On the go: Pensions consultancy LCP has proposed new rules that would allow pension savers to access tax-free cash at a normal minimum pension age while leaving the remaining balance behind.
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OpinionNow is the time for schemes to turn attention to social risk factors
The pandemic has turned the attention of many, including pension funds, to social factors, but there are more challenging issues for trustees to address, writes Lauren Wilkinson, senior policy researcher at the Pensions Policy Institute.
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NewsDWP to consult on dashboards’ draft regulations in December
The Department for Work and Pensions will be launching a consultation on the pensions dashboards’ draft regulations, which will include rules on the different stages pension schemes will need to start sharing their data to be included in the project.
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NewsSarah Smart appointed permanent chair at the Pensions Regulator
On the go: The Department for Work and Pensions has confirmed the appointment of Sarah Smart as permanent chair of the Pensions Regulator.
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NewsFCA proposes new illiquid fund structure for DC schemes
On the go: The Financial Conduct Authority is proposing a new category of fund that will allow defined contribution schemes to invest in illiquid assets.
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NewsOnly 36% of construction workers are saving into a pension
On the go: The majority of construction workers are not saving towards their retirement, according to research by union Unite.
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NewsUKSIF urges pensions sector to ramp up sustainability
On the go: The UK Sustainable Investment and Finance Association has proposed a series of measures to increase sustainability in the pensions sector, as part of its new policy version.
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NewsDWP admits DC chair’s statements fail policy objective
The Department for Work and Pensions has acknowledged that the introduction of chair’s statements has failed to meet the policy objectives set out by the department in 2014.
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NewsSarah Smart endorsed as TPR chair despite conflict of interest concerns
The Work and Pensions Committee has given its assent to the appointment of Sarah Smart as the next chair of the Pensions Regulator, putting aside concerns about potential conflicts of interest.
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OpinionSchemes to pay more attention to social factors in ESG strategies
As the UK government turns its attention to the social factors in schemes’ environmental, social and governance investment strategies, Big Society Capital interim chief executive Stephen Muers explains how pension funds can address this issue while maintaining fiduciary duty to their members.
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NewsWaspi women ‘frustrated’ at ombudsman delays
On the go: Campaign group Women Against State Pension Inequality have spoken of their frustration after “waiting for months” for the Parliamentary and Health Service Ombudsman to make a decision regarding their case.
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Opperman warns on pension scams rise in new tax year
On the go: Pensions minister Guy Opperman has warned savers to be vigilant when reviewing their retirement plans to avoid being caught out by pension scammers operating online.
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NewsTPR to beef up schemes’ climate change disclosure demands
The Pensions Regulator will demand that trustees add more climate change information to their scheme returns, and has promised enforcement action where pension funds do not comply with basic requirements.
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Self-employed missing out on £4bn pension contributions
On the go: Some 4.3m self-employed individuals are missing out on £4bn in employer pension contributions a year, according to new research.
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Third of schemes had data breaches in the past year
On the go: One-third of pension schemes have had their data breached in the past 12 months, according to new research.
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OpinionSystemic issues won’t be addressed until regulator thinks systemically
ShareAction’s director of policy, Bethan Livesey, calls for the regulator to provide sector-wide resources and data on environmental, social and governance risks for schemes to use in their own assessments.
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Industry bodies launch small pots working group
On the go: The small pension pots working group had its first meeting on Wednesday, with a team of experts appointed to propose solutions to the current issues caused to auto-enrolment savers and schemes.
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NewsGovernment calls for greater emphasis on social factors
The government has called for a greater emphasis on the social element of pension schemes’ environmental, social and governance strategies, as there is a concern trustees are ill-equipped to deal with these factors.
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Govt proposes new rules for companies’ climate disclosures
On the go: The government is consulting on new rules to mandate climate-related financial disclosures by companies, which will aid pension schemes’ compliance on environmental, social and governance factors.
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Government to review DB consolidators taxation regime
On the go: The government is to review the taxation framework for defined benefit consolidators, which will occur alongside the work being done by the regulator in this area.