This week – TPR unveils its new climate change strategy, UUK’s consultation on the latest USS valuation, more implications of McCloud remedy, and PPF’s plans to raise the fraud compensation levy.
Industrial action threats in response to new USS employer consultation
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April 8, 2021
On the go: The University and College Union has once again hinted that industrial action may be called for after accusing Universities UK of failing to stand up for members.
UUK consults on way out of USS valuation wrangle
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April 7, 2021
Universities UK, the employer group representing 340 Universities Superannuation Scheme employers, has opened a consultation on a range of measures intended to settle the long-running feud over the 2020 USS valuation.
PASA rejects single provider approach to dashboards digital identity
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April 6, 2021
On the go: The Pensions Administration Standards Association has objected to the proposal by the Pensions Dashboards Programme for a “central digital identity”, arguing that it would create a “single point of failure”.
NAO urges govt to address McCloud’s administrative impact
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April 5, 2021
The National Audit Office has urged HM Treasury to address the administrative impact of the McCloud remedy as a matter of urgency, while highlighting a need to tackle the problem of cost control in public sector pensions.
Weekly Roundup: USS Foundering stays its course
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April 1, 2021
This week – tensions between UUK and the USS, a drive to beef up anti-scam intelligence sharing, defeat at the Supreme Court for BackTo60, and the FCA and TPR attempt to clear up guidance confusion.
Fairs: TPR’s criminal powers policy will evolve with experience
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March 31, 2021
Podcast: The Pensions Regulator’s policy around the use of its controversial new powers “will evolve” in response to evidence, court cases and industry experience, its director of regulatory policy, analysis and advice, David Fairs, has revealed.
USS rejects attempt to reopen controversial valuation
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March 31, 2021
The Universities Superannuation Scheme has rejected a request by Universities UK, the advocacy group representing 340 higher education employers, to revisit the controversial assumptions behind its most recent valuation.
Guidance brings ‘welcome clarity’ for trustees over financial advice
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March 30, 2021
On the go: New guidance from the Financial Conduct Authority and the Pensions Regulator has clarified what constitutes unregulated financial advice, allowing schemes to offer cash equivalent transfer value quotations and annuity estimates, but banning drawdown illustrations.
Industry facing trustee exodus due to TPR’s new powers
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March 29, 2021
Concerns about the reach and remit of the new powers afforded to the Pensions Regulator have not been addressed by its guidance or draft policy, and are even forcing some trustees to quit, Aon has said.