All Department for Work and Pensions (DWP) articles – Page 8
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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.
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NewsDashboards timeline and guidance barriers concern industry bodies
Two of the pensions industry’s largest organisations have caveated their broad support for the pensions dashboards project with concerns about timing, consistency and red tape surrounding financial advice.
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NewsDWP makes six further state pension errors since 2007
On the go: The Department for Work and Pensions has made a series of state pension errors, prior to the current large-scale correction exercise, according to a Freedom of Information request.
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NewsSchemes and providers team up to push pensions engagement
On the go: Around 15 pension providers and schemes representing approximately 41.5mn savers and customers have committed to support a campaign to encourage engagement with pensions.
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OpinionRoadmap to tackle the gender pensions gap
There may be some in the pensions industry who are unsure of whether the gender pensions gap is a problem at all.
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NewsAnti-scam rules result in 500 safeguarding interviews to date
On the go: Nearly 500 people have so far completed a pensions safeguarding guidance interview since new anti-scam rules were introduced at the end of November 2021.
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NewsPensions industry fires back at Opperman criticism
Stalwarts of the pensions world have responded to pensions minister Guy Opperman’s suggestion that the industry lacks long-term vision.
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OpinionThe future of pensions
Tumelo’s chief executive Georgia Stewart explains how a lack of financial education has led to poor understanding of pensions, and how stewardship can boost member engagement and increase individual savings.
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NewsIndustry anger as new FCF levy goes ahead costing MTs £130mn
The government is to press ahead with an increase to the Fraud Compensation Fund levy, which will see master trusts brunt the majority of the costs paying an extra £130mn over the next nine years, despite their members being the least likely to benefit from it, experts have warned.
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NewsGovernment to legislate soon on scheme investment in illiquids
The government will introduce legislation to help pension schemes invest in illiquid assets, the work and pensions secretary has said.
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NewsTPR to issue new guidance on employer covenant
On the go: The Pensions Regulator is working on fresh guidance regarding employer covenant, which may emerge in autumn of this year.
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NewsDWP called to intervene in divorced women underpaid pensions
On the go: A bill calling on the government to include divorced women in its efforts to repay those who have been underpaid the state pension has been introduced in parliament.
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NewsPension giants call govt to adopt AE expansion
Some of the UK pension industry’s big beasts have joined forces to demand an expansion of auto-enrolment to capture young people, part-time workers and those on lower incomes.
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NewsOmbudsman requests more info on state pension changes from DWP
On the go: The Parliamentary and Health Service Ombudsman is waiting for the Department for Work and Pensions to send evidence relating to the communication of changes to the women’s state pension age.
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NewsGovt could tweak transfer amber flag rules for overseas investments
On the go: The Department for Work and Pensions may amend defined benefit transfer scam rules so that low-risk overseas investments are no longer flagged.
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NewsTPR publishes example to help trustees with new ESG duties
On the go: The Pensions Regulator has published an illustrative example to help trustees and advisers comply with their environmental, social and governance duties, as it revealed it will start contacting schemes that are now in the scope of the new regulations.
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NewsFCA says dashboards will increase advice ‘value for money’
On the go: The Financial Conduct Authority has said the pensions dashboards will increase competition in the advice profession and offer consumers better value for money.
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NewsOpperman fires back over universal DC charging structure
Pensions minister Guy Opperman stood his ground over the government’s expected move to introduce a single flat charge for defined contribution workplace pensions, after master trust providers criticised the proposal earlier in the week.