All Department for Work and Pensions (DWP) articles – Page 30
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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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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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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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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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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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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
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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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.
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Opinion
Industry is divided over Royal Mail's CDC proposal
Pressure is mounting on the Department for Work and Pensions to lay regulations for collective defined contribution, after mediation between Royal Mail and the Communication Workers Union recommended lobbying government to facilitate their creation of a CDC scheme.
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OpinionSupporting consumers and the industry
Following years of reform and bold new policy it is right that we now enter a period of stability and implementation, building on our success and consolidating support for consumers and the industry where it is needed.
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FeaturesMNOPF steers towards buy-in and DC merger
As derisking plans accelerate and sponsors seek to reduce the volatility of defined benefit scheme deficits, buy-ins are becoming increasingly attractive.
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News
New regime could reduce number of mastertrusts by a third
The government has set out draft regulations for defined contribution mastertrusts, estimating that the rules will cut the number of mastertrusts to about 56 from currently 87.
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NewsGovt to ban cold calls before 2020, but questions remain
The government is aiming to introduce a cold-calling ban before 2020 and has opposed the idea of compulsory guidance, as the Work and Pensions Committee continues to probe officials as part of its wide-ranging inquiry into pensions freedoms.
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OpinionMaster trust consolidation – at what cost?
Regulators should be wary of an overzealous insistence on consolidation to a specific number of mastertrusts, and must focus instead of clearly defined standards of governance, writes Colin Richardson from professional trustee company PTL.