All Department for Work and Pensions (DWP) articles – Page 14
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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.
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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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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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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.