All Department for Work and Pensions (DWP) articles – Page 29
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NewsFines for DB negligence leave industry split
Employers who wilfully or recklessly put their defined benefit pension schemes at risk are in the firing line of new punitive fines announced in a government policy statement released on Monday.
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OpinionWhat technology means for pensions
Two months into his new role, the Treasury’s John Glen reflects on the importance of helping the self-employed save for their retirement.
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News
Govt 'tempted' by latest Royal Mail CDC proposals
The Department for Work and Pensions is “tempted” to lay regulations facilitating the creation of collective defined contribution schemes, following a recent breakthrough by the team drafting proposals on behalf of Royal Mail.
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News
Cold-call ban needs hefty fines to work, experts say
The government's decision to speed up its ban on cold calls and emails related to pensions must be supported by credible regulations and deterrent fines if consumers are to be protected, industry commentators have said.
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OpinionFinancial and social returns can be easy bedfellows – if the will is there
Nico Aspinall, chief investment officer at the People’s Pension, discusses the obstacles to social investment in DC, and explains how they can be overcome.
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News
MPs probe pension funds on climate risk amid wider ESG push
MPs are probing pension funds on their approach to climate change risk, as experts expect a ‘multi-pronged attack’ to push environmental concerns higher up trustee agendas.
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Opinion
Pensions industry still behind on gender pay gap
Analysis: The pensions industry is slowly publishing its gender pay gap data, and it does not make for pleasant reading.
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News
DWP to ‘investigate’ extending removal of member consent for bulk transfers
The government has made a number of changes to regulations that will allow bulk transfers without member consent to schemes that have never been contracted out, and has said it will look into whether the rules should also apply to non-salary-related schemes.
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News
DWP changes DC cost disclosure rules
On the go: The Department for Work and Pensions has made a number of changes to disclosure rules relating to costs and investments in defined contribution workplace schemes.
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News
Could airline black box approach take off in the pensions industry?
A Pensions Institute report published on Wednesday has suggested that emulating the airline industry’s black box thinking approach of systematically analysing mistakes could solve many of the problems facing defined benefit schemes.
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News
Select committee hearing shows deep divide over CDC
Collective defined contribution could dramatically uplift the final values enjoyed by UK pension savers, a parliamentary select committee has heard, but some experts still doubt its compatibility with pension freedoms and performance in market crashes.
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OpinionField goes in all guns blazing
Editorial: The MPs' pension scheme can rest easy, it does not look like they will have to pay out to Frank Field any time soon.
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NewsSelect committee: Members let down by response to British Steel
The Pensions Regulator, Financial Conduct Authority and the UK government have all let down former members of the British Steel Pension Scheme, according to a scathing report into the scheme’s restructuring and ensuing transfers scandal.
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News
Auto-enrolment passes 1m employers
More than 1m employers have now enrolled their staff into a workplace pension, according to figures compiled by the Pensions Regulator.
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News
DWP response on scams and guidance 'light on details'
The Department for Work and Pensions has said it will "continue to work swiftly" to bring in a cold-calling ban, but commentators have warned more needs to be done to protect vulnerable savers.
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NewsThales case shines light on power of scheme rules
A High Court case involving Thales and trustees of its pension scheme has concluded it cannot move from the retail price index to the consumer price index for some benefits, highlighting how the wording in a scheme’s rules dictates the measure of inflation that is used.
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News
Consolidation could see 4 in 5 schemes disappear
Consolidation will see just 1,000 defined benefit schemes still operating in 25 years’ time, according to a new report, but some experts doubt the appetite from government or the private sector to bring about economies of scale.
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News
Nest amendments put before parliament
The government has responded to its consultation on the draft National Employment Savings Trust (Amendment) Order 2018, and laid it before parliament on Monday.
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OpinionThe year ahead for the Pensions Regulator
Lesley Titcomb sets out the Pensions Regulator’s priorities for 2018.
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OpinionHow to avoid pitfalls in DC bulk transfers
From the blog: Pension freedoms, increasing governance demands and higher charges have led to considerable appetite among employers to transfer defined contribution pots to either a mastertrust or contract-based arrangement, but there are a number of hurdles that need to be overcome.