All Department for Work and Pensions (DWP) articles – Page 8
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NewsDWP to consider remedies after pension mispayments
On the go: The Department for Work and Pensions has said it is investigating remedies after millions of people have received the wrong pension for decades due to government IT failures.
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NewsDWP gives schemes greater scrutiny of asset managers on voting
Pension schemes will be able to use the asset manager tender process to challenge prospective managers on how they would vote on shareholder resolutions, the government has said.
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NewsUnion takes Bolt to court over pension rights
GMB union is taking ride-hailing service Bolt to court in a bid to grant its drivers employment rights including pensions, while Uber has promised a Sharia-compliant pension fund for its drivers by October.
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NewsDWP questions industry on Nest’s fund offering
The Department for Work and Pensions is gathering views on support available to scheme members when making savings decisions, and is questioning the industry on whether Nest’s current offering is sufficient.
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NewsTPR to review initial TCFD reports
On the go: The Pensions Regulator will review schemes’ published Task Force on Climate-related Financial Disclosures reports in the coming months, it has disclosed.
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NewsICO in talks with TPR over member communications
On the go: The Information Commissioner’s Office is engaging with the Pensions Regulator to clarify the current rules involving member communications, as schemes and providers believe existing legislation prevents them from reaching out to these individuals.
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NewsTPR chief backs using tax returns to bring self-employed into pensions
The Pensions Regulator’s chief executive, Charles Counsell, has backed using self-assessment tax returns to encourage more self-employed to save into pensions, in a bid to tackle huge levels of pensions under-saving in the cohort.
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NewsDWP tenders for midlife MOT pilot providers
On the go: The Department for Work and Pensions has launched a tender for suppliers to help deliver midlife MOTs as part of the programme’s pilot stage.
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OpinionFive years on the ‘pensions horse’, is Opperman winning the race?
Almost five years have passed since Guy Opperman assumed the role of pensions minister, which we all know he asked for. What we can hope is that after all these years he knows what a guaranteed minimum pension is.
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NewsState pension errors continue despite correction exercise
On the go: The Department for Work and Pensions has been accused of continuing to “wrongly” tell women they have no pension entitlement when, in some cases, they were due thousands each year.
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NewsWork and Pensions Committee chair Timms receives knighthood
On the go: Work and Pensions Committee chair Stephen Timms has received a knighthood in the Queen’s birthday honours.
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NewsGovt redefines fiduciary management in CMA probe reply
The government has excluded transition management from the scope of fiduciary management in its response to the Competition and Markets Authority’s 2018 investigation of the sector.
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NewsCharles Counsell to step down from TPR in 2023
On the go: Charles Counsell will be stepping down as chief executive of the Pensions Regulator in 2023 as he will not be seeking a second term at the watchdog’s helm.
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NewsTimms urges Opperman to reconsider FAS compensation cap
Work and Pensions Committee chair Stephen Timms has asked pensions minister Guy Opperman to reconsider the interest on arrears and the application of the compensation cap for Financial Assistance Scheme members.
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NewsMindset shift key to private markets in DC, trustees told
Allocating capital to long-term illiquid assets requires a shift in focus from cost to value, according to panellists at the Pensions and Lifetime Savings Association’s investment conference.
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NewsGovernment urged to revise at-retirement guidance to help trustees
On the go: Panellists at the Pensions and Lifetime Savings Association’s investment conference have called for a revised framework for at-retirement guidance to allow trustees to give more support to members considering their options.
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NewsAuto-enrolment reform: If not now, when?
Five years ago, the Department for Work and Pensions issued a report with the aim of “maintaining the momentum” of automatic enrolment.
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NewsScheme costs ‘could increase’ under plans to promote illiquids in DC
The Department for Work and Pensions’ plans to promote investment in illiquid assets could end up increasing costs for members and raise the regulatory burden on schemes without improving retirement outcomes, consultants have warned.
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NewsMaster trusts call for AE rate increase with opting down option
Pension specialists are calling for the government to introduce an opting down option when setting the next auto-enrolment minimum rate increase as a way of protecting those on lower earnings.
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NewsScam warnings on DB transfers near record high
On the go: The number of scam warnings on defined benefit transfers is near a record high, despite a downward trend in transfer activity, XPS Pensions Group has said.