All Department for Work and Pensions (DWP) articles – Page 7
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NewsGovernment backs dashboards bill against ‘rogue trustees’
On the go: Pensions minister Guy Opperman has confirmed the government’s support for a bill designed to stop trustees or managers from using a scheme’s assets to pay fines for breaches of pensions dashboards legislation.
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NewsDWP announces £5mn mid-life MOT expansion
On the go: The Department for Work and Pensions has announced a £5mn expansion of the mid-life MOT initiative, but the project is considered to “barely touch the sides” by an industry expert.
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NewsDWP delays first dashboards staging dates by two months
The government has delayed its timetable for connecting the first two cohorts of pension schemes to the dashboards programme.
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NewsDWP recommends CMS partner as new Pensions Ombusdman
On the go: The Department for Work and Pensions has announced that CMS partner Dominic Harris is the preferred candidate for the Pensions Ombudsman.
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NewsGuy Opperman reappointed pensions minister
Guy Opperman has agreed to return to his pensions minister post until a new leader of the Conservative party is elected.
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OpinionPensions dashboards and the importance of language
Shoosmiths partner Paul Carney debates the importance of language and how the pensions dashboards project has scope for errors and delay.
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NewsOpperman resigns as pensions minister
Pensions minister Guy Opperman has resigned, becoming the 51st MP to quit their government role as calls grow louder for the UK prime minister’s leadership to end.
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NewsOpperman: AE reforms are ‘doable’ by 2025
On the go: Pensions minister Guy Opperman remains committed to introducing auto-enrolment reform, noting that implementation of new legislation is “doable” by 2025.
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NewsOpperman blames Webb for state pension errors
On the go: Pensions minister Guy Opperman has blamed Sir Steve Webb for the litany of state pension failures the Department for Work and Pensions is now dealing with.
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NewsTPR and DWP respond to pension transfer rule concerns
On the go: The Pensions Regulator and the Department for Work and Pensions have sought to allay concerns over pension transfer rules and their application to overseas investments and “small-scale incentives”.
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NewsOpperman: Employers should provide ‘rainy-day fund’ to keep staff
Pensions minister Guy Opperman has argued there is a need for employers to have a savings product offering, in addition to a pensions package, as a means of retaining staff.
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NewsGovt sets 2040 gender state pension gap goal
The government has revealed a goal of eliminating the gender state pension gap by 2040, while pointing to auto-enrolment as a tool to decrease the overall savings shortfall between men and women.
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NewsAE levels out as employers seek change to age threshold
Workplace pension participation is stalling after reaching a rate of 88 per cent of eligible employees last year, according to new figures from the Department for Work and Pensions.
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NewsOPSC: fund managers should vote according to client’s expressed view
On the go: The Occupational Pensions Stewardship Council has released a report arguing for communication between schemes and fund managers on their voting intentions, and outlining the communication that schemes should undertake to make their requirements known to funds.
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NewsTPR warns trustees about imminent dashboards deadline
The Pensions Regulator has launched a campaign urging trustees to prepare for the pensions dashboards deadline, as new research shows that less than 10 per cent of schemes have begun to digitise the information they hold in preparation for the initiative.
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NewsSelf-assessment pension trials results expected in summer
On the go: The results of a trial to boost retirement savings for the self-employed, involving the existing self-assessment tax system, will be published in summer, a Treasury minister has revealed.
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NewsProviders to engage with members on ESG under ‘green nudge’ trial
On the go: Smart Pension, Aviva and Hargreaves Lansdown will be encouraging members to learn more about making greener pension choices under a new trial.
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NewsState pension age increase doubles poverty rates for over-65s
On the go: The rise in the state pension age from 65 to 66 has doubled poverty rates for the age group, resulting in over-65s losing state pension income worth around £142 a week in 2020-21.
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NewsVolume of legislative change is main barrier for admins
On the go: Two-thirds of administrators identified the volume of legislative change as one of the main barriers they faced to providing a high-quality service, according to new research.
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NewsSchemes start to gather learnings from first TCFD reports
As the first group of UK schemes have completed their Task Force on Climate-related Financial Disclosures reports, they have been challenged by the long process, incomplete and inconsistent data, and lack of mandatory reporting from fund managers.