Latest articles from Maria Espadinha

TPR fines FCA for pension failures

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On the go: The Financial Conduct Authority has been ordered to pay a £2,000 fine by the Pensions Regulator for lack of details in its defined contribution scheme documentation.

Govt to consult on McCloud solution as new members could be worse off

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The government has warned that changes ordered by the courts to rectify a landmark discrimination case could make some members worse off.

Four candidates named for Work and Pensions select committee chair

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On the go: Debbie Abrahams, Chris Bryant, Stephen Timms and Karen Buck are the Labour MPs that so far have been nominated for the election of the next Work and Pensions select committee chair.

Welsh government left with ‘no option’ but to offer NHS tax solution

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On the go: The Welsh government has been left with “no option” but to cover the pension tax bills of senior doctors, mirroring measures introduced in England. The health minister for Wales has branded the situation “totally unacceptable”.

Contractors take advantage of LGPS loophole on exit payments

The pensions industry is still waiting for the government to close a loophole allowing outsourcers to claw back surplus from the Local Government Pension Scheme even when they have not paid into the plan.

LGPS funds warn of fossil fuel divestment impact

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On the go: Several of Britain’s top pension funds have warned about the impact of fossil fuel divestment plans, as they would have lost hundreds of millions of pounds had they sold out of oil and gas stocks.

Vegan case flags importance of heeding members

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Podcast: Trustees and employers should consult members on their beliefs, and incorporate the investment views of the majority in their pension default fund, according to Romi Savova, chief executive at PensionBee, and David Brooks, technical director at Broadstone. The experts discuss the impacts of a landmark ruling finding that veganism is a philosophical belief, alongside other topics, in this week’s podcast.

Smaller-sized bulk annuity deals to increase in 2020

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On the go: Fewer multibillion bulk annuity deals are expected in 2020, although the number of smaller transactions is set to increase, according to research from Willis Towers Watson.

Pension schemes bill to cost industry £818m in first year

The pensions industry faces an annual cost increase of £818m as a result of changes brought in by the pension schemes bill, with the new defined benefit funding regime and the pensions dashboard requiring the lion’s share of this investment.

AA considers DB scheme closure

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On the go: The AA is considering closing the last section of its defined benefit scheme still open to future accrual, with 2,800 employees expected to be transferred to one of its defined contribution plans.