All Department for Work and Pensions (DWP) articles – Page 29
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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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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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NewsMay's promise to protect pensions lacks concrete solutions
Theresa May has pledged to stop executives who try to “line their own pockets” by putting pension schemes at risk, but questions over resourcing and legislative issues remain.
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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.
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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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News
DWP publishes four-year plan
The Department for Work and Pensions has has ruled out ditching the triple lock and has pledged to continue providing means-tested pension credit, as it set out its objectives for the next four years.
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NewsCarillion collapse sparks calls for better DB rules
The collapse of Carillion and impending transfer of some of its defined benefit members into the Pension Protection Fund has raised questions about the suitability of existing pensions laws.
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OpinionMusical chairs
Editorial: Protest, disappointment and even anger met the news that David Gauke, the politician with Treasury experience, has been moved from his post as work and pensions secretary in Theresa May’s latest Cabinet reshuffle. He was replaced by Esther McVey, the department’s 14th secretary of state in 20 years.
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News
Four priorities for McVey's DWP
The Department for Work and Pensions got its fifth boss in less than two years on Monday evening, with Theresa May’s Cabinet reshuffle replacing David Gauke with Esther McVey as secretary of state responsible for the department.
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News
McVey succeeds Gauke at DWP
Esther McVey, member of parliament for Tatton, has been appointed as the secretary of state for work and pensions.
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News
DWP issues draft regulation on contracted-out scheme transfers
The government is consulting on its draft regulations for bulk transfer of contracted-out pension rights without member consent. The consultation closes on January 17 2018.
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OpinionDashboard: Timing, compulsion and engagement are crucial
From the blog: People have, on average, 11 different pension pots over the course of their lifetime, making it a near-impossible task to keep track of them.
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OpinionSchemes need not fear dashboard compulsion
The dashboard has received a recent boost, with responsibility for the project transferring to the Department for Work and Pensions and the pensions minister stating his enthusiastic commitment.
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News
Govt 'minded' to introduce mandatory trustee ESG statements
The government is to consult on whether trustees should be required to state their policies on sustainability, member concerns and stewardship, and will clarify current legislation as part of a wider push to increase pension investment in social and illiquid assets.
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OpinionAE review should silence doom-mongers
Standard Life’s Jamie Jenkins, a chair of the external advisory group of the automatic enrolment review 2017, says its package of proposed reforms will make meaningful changes to the savings landscape, while allowing time to monitor the success of contribution uplifts.
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News
TPR gets stronger, the government weaker: Top 5 law and regulation stories from 2017
Year in review: If the UK government’s all-consuming struggle to strike a beneficial Brexit deal can bring any relief to pensions professionals, it is that departments have not had time for the pensions tinkering so despised by the industry.
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News
AE review: Welcome reforms not due until mid-2020s
The government will introduce a package of measures to address issues with auto-enrolment, but questions remain over multiple jobholders and the self-employed, while the timescale has drawn criticism.
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Features
CPI, admin and Mums: Top 5 DB and derisking stories from 2017
Year in review: Funding and liability management took centre stage during 2017, as the debate over defined benefit pension scheme sustainability and member protection ramped up.