All Department for Work and Pensions (DWP) articles – Page 26
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OpinionGuidance will have to replace advice for low earners
Independent financial advice is simply not an option for many lower earners striving for a comfortable retirement, so key changes are needed to upgrade the quality of guidance, says Charles McCready of the Tax Incentivised Savings Association.
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OpinionIncreasing TPR powers vital to protect DB schemes
From the blog: The white paper on protecting defined benefit schemes will go under the spotlight on Wednesday with both the Pensions Regulator and pensions minister giving oral evidence to the Work and Pensions Committee as part of its inquiry.
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Opinion
How would a lack of government support affect dashboard progress?
Analysis: Reactions to speculation that the secretary of state for work and pensions wants to scrap the pensions dashboard project have been unsurprisingly negative.
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OpinionWhat the DWP’s new DB funding code could mean for trustees
The Pensions Management Institute’s Lorraine Harper discusses the revised regime for scheme funding set out in the Department for Work and Pensions’ white paper on defined benefit pension schemes, published earlier this year.
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News
Select committee hails CDC as 'new Beveridge' for UK pensions
Collective defined contribution schemes could usher in a new era of progress for the welfare state, according to the Work and Pensions Committee’s latest report, as the influential group of MPs seeks to increase pressure on government to facilitate the swift creation of CDC schemes.
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News
Government appoints first CEO of single financial guidance body
On the go: The Department for Work and Pensions has appointed John Govett as the first chief executive officer of the new single financial guidance body.
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Opinion
Review: Look Where You’re Going – The Life of Alan Pickering
Perhaps a professional trustee is an unlikely candidate for a published biography. But Paddy Briggs’ 'Look Where You’re Going', provides a fascinating insight into the remarkable life of Alan Pickering CBE.
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News
Pension SuperFund asset mix will borrow from PPF
The chief executive officer of The Pension SuperFund has said the fledgling defined benefit scheme consolidator's asset allocation is likely to resemble that of the Pension Protection Fund.
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NewsLuxfer Group offers IFA to deferred members
Global materials technology company Luxfer Group has launched an exercise offering deferred members of its defined benefit scheme the opportunity to discuss their benefit options with an independent financial adviser.
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News
Could mastertrust consolidation result in stranded schemes?
Strict requirements for mastertrusts to contingency plan for their own demise as part of the sector’s new authorisation regime may have unintended consequences if wound-up schemes become stranded, experts have warned.
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News
PLSA pushes for retirement income targets and AE increases
The Pensions and Lifetime Savings Association has set out its final recommendations from its ‘Hitting the Target’ consultation, calling for an increase in minimum auto-enrolment contributions to 12 per cent, and the introduction of retirement income targets.
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News
Dormant pots could cost £1bn in admin charges, research finds
Auto-enrolment is set to create 50m dormant pension pots by 2050, which may cost savers up to £1bn in administration charges, according to Hargreaves Lansdown research.
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OpinionSchemes must be prepared for an interventionist regulator
Defined benefit trustees and employers should both expect to see more of the Pensions Regulator in the coming years, says Sackers’ Peter Murphy, as its new approach and suite of powers look set to target scheme funding and corporate transactions.
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OpinionSmall schemes should not pin hopes on consolidators
Consolidators looking to profit from pensions look to have government support, says the Society of Pension Professionals’ Paul McGlone, but those schemes in most desperate need of access to scale are unlikely to make attractive business.
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OpinionSidecars suit self-employed
Editorial: Self-employment is more common than ever, and the distinct lack of any concrete solution to get these people saving for retirement is becoming increasingly worrying.
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News
Providers eye departure from defaults in workplace success stories
Providers at both ends of the workplace pension market are reporting positive behaviours among their membership, prompting some to suggest that the government should not instigate further increases in minimum contribution rates.
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Features
Making ESG part and parcel of the DC investment process
Earlier this year, the Environmental Audit Committee wrote to the UK’s largest 25 pension schemes to ask how they manage the risks climate change poses to retirement savings.
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News
DWP proposes power for regulator to impose civil fines of up to £1m
The Department for Work and Pensions has proposed granting the Pensions Regulator the ability to fine employers and associated parties up to £1m where they are found guilty of serious breaches and reckless behaviour.
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OpinionThe day that climate became mainstream
From the blog: Climate campaigners across the country spluttered into their morning cups of fair trade coffee last Tuesday as the Department for Work and Pensions and Financial Conduct Authority published their final responses to the Law Commission’s 2017 report on pensions and social investing.
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Features
Auto-enrolment: How are small and micro employers faring?
Analysis: When small and micro employers began auto-enrolling workers, it was unclear how they would react to the cost, administration and communication aspects of complying with the reforms.