Latest articles from Josephine Cumbo

Trustees must face hard governance truths after Covid shake-up

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Tough decisions thrown up by the Covid-19 crisis are exposing the governance gap between trustee boards with adequate technical knowledge, and well-meaning but underskilled amateurs. The regulator must keep up its push for better standards, argues FT pensions correspondent and Pensions Expert columnist Josephine Cumbo.

Regulator striking the right balance on deficit holidays

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The Pensions Regulator is stuck between a rock and a hard place when it comes to knowing how far it can go with its relaxed rules on deficit repayment holidays, warns columnist and Financial Times pensions correspondent Josephine Cumbo.

Pension protections must not be victims of coronavirus

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The regulator’s hands-off approach regarding employer pension payments must not be seen as an opportunity for chancers pushing for pension holidays that are not justifiable, warns columnist and Financial Times pensions correspondent Josephine Cumbo.

GMP equalisation: Was it worth it?

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Guidance from government on how to deal with tax issues in GMP conversion is urgently needed so that schemes can proceed with equalisation, as there is a great risk that implementation costs will be higher than the actual benefits members will receive, warns columnist and Financial Times pensions correspondent Josephine Cumbo.

FCA’s response to transfer scandal too little, too late

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Recent revelations that the City watchdog has concerns about the majority of the £80bn market for providing pension transfer advice in the UK have triggered shock and anger across the industry. Quite rightly too, says columnist and Financial Times pension correspondent Josephine Cumbo.

Are IGCs up to challenge of new duties?

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The Financial Conduct Authority has stirred into action on the role of independent governance committees, but columnist Josephine Cumbo asks whether the regulator can really be sure that the committees are doing a good job of the responsibilities they already have.

Election policies we need but probably won’t get

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FT pensions correspondent Josephine Cumbo lays out four much-needed pensions reforms, and urges politicians to use the election to promote considered policy rather than headline-grabbing.

It is time for the industry to face up to its data problems

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Pensions administrators and trustees have been burying their heads in the sand on data quality. It is time for the Pensions Regulator to take more forceful action, writes Josephine Cumbo.

Regulator still sparing AE breach employers’ blushes

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Tough talk from the Pensions Regulator on automatic-enrolment breaches has translated into more action in recent years, but there are signs that the watchdog is still hesitant to use the toughest sanctions in its toolbox, says FT pensions correspondent Josephine Cumbo.

Who will protect us from slow-footed regulators?

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The FCA has finally proposed a ban on contingent charging, in all but exceptional cases, and put in place other measures to protect those looking to transfer. But all this should have come much sooner, argues columnist and Financial Times pensions correspondent Josephine Cumbo.