Latest articles from Josephine Cumbo

UK avoids Australia’s Covid-19 pensions trap

Jo Cumbo (teaser)

The UK’s quick moves to back up long-term savings during Covid-19 have reflected favourably on the nation, but more thought is needed on how to support older workers through job losses and an onslaught of scams, writes FT pensions correspondent Josephine Cumbo.

IGCs let savers down with impunity

Jo Cumbo (teaser)

The Financial Conduct Authority has confirmed consumer campaigners’ fears that independent governance committees are not always independent, nor always good at governing value for money. Yet the regulator is sparing providers’ blushes and even rewarding failing committees with new responsibilities, writes FT pensions correspondent and Pensions Expert columnist Josephine Cumbo.

Trustees must face hard governance truths after Covid shake-up

Jo Cumbo (teaser)

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

Jo Cumbo (teaser)

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

Jo Cumbo (teaser)

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?

Jo Cumbo (teaser)

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

Jo Cumbo (teaser)

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?

Jo Cumbo (teaser)

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

Jo Cumbo (teaser)

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

Jo Cumbo (teaser)

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.