All Department for Work and Pensions (DWP) articles – Page 14
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News
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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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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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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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.
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TPR to test employer resources in contribution regime
On the go: The Department for Work and Pensions has proposed that the Pensions Regulator includes a new employer resources test in its contribution regime, which will be used to determine whether an act or failure to act has occurred.
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DWP consults on removing charge cap DC investment barrier
On the go: The Department for Work and Pensions on Friday opened a consultation into whether the charge cap acts as a barrier to defined contribution scheme investments in a range of alternatives, such as venture capital, illiquids and growth assets.
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Opperman urges pension schemes to share scam data
On the go: The minister for pensions and financial inclusion has urged pension schemes to share scam data with the Pension Scams Industry Group, with the goal to get a real coverage of the issue.
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Opperman: Charge cap has room for illiquid investments
On the go: The pensions minister has suggested that defined contribution schemes currently have room to invest in illiquids within the charge cap.
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Government proceeds with new general levy structure
On the go: The Department for Work and Pensions has confirmed that a new general levy structure, with four different rates, will come into force in April 2021.
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DWP delays fiduciary management consultation response
On the go: The Department for Work and Pensions’ response to the consultation on trustee oversight of investment consultants and fiduciary managers has been delayed until 2022.
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Climate change takes priority in government’s legislation
On the go: The minister for pensions and financial inclusion has laid out a plan for the upcoming secondary legislation following the Pension Schemes Act, giving priority to new climate change rules.
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Budget 2021: Govt announces investment pension rules reform
On the go: The government will be launching a consultation aimed at supporting the UK economy with pension assets post-Covid, the chancellor announced on Wednesday
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NewsTPR criticised for year-long delay in collection of ESG statements
A Conservative peer and former pensions minister has hit out at delays in the Pensions Regulator’s efforts to police the content of pension schemes’ statements of investment principles.
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Govt maintains current AE tests for DB and hybrid schemes
On the go: The Department for Work and Pensions has concluded that the current tests used by defined benefit and hybrid schemes for auto-enrolment suitability are fit for purpose.
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Calls for TPR to include ESG module in trustee toolkit
On the go: The Pensions Regulator has been urged to include an an environmental, social and governance training module in its trustee toolkit.
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Calls for DWP to change chair’s statement rules
On the go: The Department for Work and Pensions is to publish a review of the effectiveness of defined contribution chair’s statements in April, which has prompted some specialists to call for a major rethink.
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PodcastsPodcast: Timms calls for pension transfer rules change
Podcast: The current law governing transfers is not fit for purpose and there are too many bodies involved in handling pension scams, according to Work and Pensions Committee chair Stephen Timms.
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Industry calls on HMRC to help solve GMP tax issues
On the go: Although welcoming the new guidance from the Pensions Administration Standards Association on guaranteed minimum pensions equalisation tax issues, industry voices are calling for more collaboration from HM Revenue & Customs as several problems remain unsolved.
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PodcastsPodcast: Tackling climate change will require a ‘step change’ in governance
Podcast: The government’s “revolutionary” plans to tackle climate change “ain’t half prescriptive” when it comes to pensions investments, and will require a “step change” in governance to achieve. So say Stuart O’Brien, partner at Sackers, and ITS director Tegs Harding, who also discuss the consequences of another row at the Universities Superannuation Scheme and the cartelisation of the advisory market.
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NewsMaster trust competition hots up despite consolidation
Data crunch: The majority of master trusts are targeting defined contribution schemes in a bid to boost their assets under management, leading to heightened competition in a marketplace where there is scepticism about acquiring rivals.