All Department for Work and Pensions (DWP) articles – Page 35
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News
Proposed early exit charge cap gets mixed response
The Financial Conduct Authority yesterday proposed capping exit charges at 1 per cent of pot value for existing contracts, while banning them altogether for future contracts.
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News
Field’s proposal for scheme deficits bill raises pension cut fears
Former pensions minister Steve Webb has warned that a new bill proposed by Work and Pensions Committee chair Frank Field to deal with DB deficits – including by introducing flexible benefits – is a “worrying” development that could undermine people’s confidence in the pension system.
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Features
Will the BHS fallout ring alarm bells across the corporate sector?
FTSE companies come and go, but the failure of retailer British Home Stores a year after being sold for a pound is likely to become a watershed moment in UK pensions.
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News
Select committee flags Lisa as AE opt-out concern
A recent report from the Work and Pensions Committee has raised concern that the Lifetime Isa could lure people out of pensions, but the industry is divided over whether Lisas are a threat or potential boon for auto-enrolment.
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News
Queen's speech promises mastertrust regulation
Long-anticipated mastertrust legislation was announced in the Queen's speech this week, providing protection for consumers and increased powers for the Pensions Regulator, but details are still sparse.
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News
DWP launches online tracing site as demand booms
The Department for Work and Pensions has launched a new website for the government's pension tracing service, as the number of people seeking their deferred pots has ballooned over the past decade.
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NewsLGPS calls for details of government intervention
Local government pension experts have called on the government to give more details regarding controversial plans to introduce intervention powers for the secretary of state over investment decisions.
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News
BHS collapse raises questions for the regulator
The Pensions Regulator is investigating the BHS Pension Scheme as the sponsoring employer enters insolvency, but some experts queried why the regulator did not act sooner to secure the ailing scheme.
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FeaturesThe push-me-pull-you: In which direction is UK retirement saving headed?
Analysis: The introduction of a workplace Isa, mooted in a new proposal this week, could present both the UK workforce and employers with a radical new alternative, but how can developments in government policy drive the sea change needed in the UK’s savings culture?
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News
Women undersave due to childcare, but AE carer credits unlikely
Women do not save enough for pensions due to the persistence of the breadwinner model and a lack of confidence in their own financial aptitude, a new study shows. Despite this, a proposal to introduce carer credits to auto-enrolment was rebuffed by the pensions minister this week.
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OpinionAutomatic choice
Editorial: Saving should be made easy. Savings vehicles should be trusted by people, so that they are more likely to contribute into them. I don’t think anyone would disagree with that. But what about pension saving through auto-enrolment?
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Opinion
Altmann: Create a culture where it pays to save
Regular readers of this column will know that auto-enrolment and ensuring as many people as possible can look forward to a good private pension in retirement are a priority for me.
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OpinionWhat does Iain Duncan Smith's resignation mean for pensions?
There was a big upset in Westminster over the weekend as former secretary of state for work and pensions Iain Duncan Smith resigned in protest over the chancellor’s latest round of benefit cuts.
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OpinionA pensions power struggle
Editorial: The chancellor has pulled another rabbit out of the red case. This time it’s a tame European breed: the ‘no change on pensions tax relief ahead of the referendum’ kind.
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News
LGPS to meet cost of GMP inflation proofing
A quirk in regulation could leave the Local Government Pension Scheme and several other public sector arrangements responsible for meeting the costs of inflation-proofing the benefits of members retiring between April 2016 and December 2018.
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NewsCost and complexity increase support for multi-employer schemes
The cost and complexity of running a pension scheme is increasing the appeal of multi-employer schemes, experts have said, as a survey shows industry support for government-backed scheme consolidation.
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News
Member-borne commission ban could move costs elsewhere
The Department for Work and Pensions has launched a consultation on draft regulations for banning member-borne commission in auto-enrolment schemes, but experts said costs would still need to be shouldered elsewhere.
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Opinion
Altmann: Many employers going above AE minima as reform beds in
Talking Head: I’d like to start my first column for 2016 by wishing all Pensions Expert readers a happy new year, and updating you on one of this government’s major programmes.
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NewsSiemens issues resolution to prevent trapped surplus
Siemens, one of the world's largest electrical companies, is allowing its defined benefit scheme to make payments to the sponsoring employer, as schemes scramble to maintain their ability to prevent trapped surplus.
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Opinion
Pension Wise: perception and reality
From the blog: Defined contribution investors face risks and challenges both at and in retirement, against the backdrop of the widening UK advice gap and the lack of any reference framework by which to gauge what is feasible and realistic.