How trustees can avoid maladministration claims over pension transfer scams.
Master trusts forced to up reserves due to levy increase
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December 11, 2019
Master trusts will be hit twice by a general levy increase, since in addition to a cost hike these schemes will also have to boost their reserves in case of a wind-up, and face added scrutiny from the regulator as a revised business plan could be expected.
Third of schemes facilitating financial advice to members
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December 11, 2019
On the go: One-third (34 per cent) of defined benefit scheme trustees are facilitating financial advice for their members as they approach retirement, new research found.
Calls for next government to revive multi-employer schemes bill
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December 11, 2019
On the go: The boss of a small Scottish plumbing company who was hit with a £1.2m pensions bill is calling for the next government to revive a 2018 proposal, which would end the current issues affecting sponsors of the Plumbing and Mechanical Services Industry Pension Scheme.
Ombudsman sides with Shell on climate change dispute
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December 10, 2019
The Pensions Ombudsman has sided with the Shell Contributory Pension Fund in the legal challenge regarding the disclosure of climate change information, which has prompted environmental lawyers ClientEarth to request the body to review its internal procedures.
Fewer than a quarter of construction workers auto-enrolled
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December 9, 2019
On the go: Fewer than a quarter (23 per cent) of blue-collar construction workers are participating in a workplace pension, according to new figures from the Department for Work and Pensions.
Bulk annuity market to reach £540bn in next decade
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December 9, 2019
On the go: The bulk annuity market is expected to quadruple in the next decade compared with the current one, which saw £135bn paid to insurers, according to estimates from Mercer.
Govt guarantees doctors’ emergency pension payments
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December 9, 2019
On the go: The government will guarantee that senior clinicians’ pension tax bills will be paid even if the employer ceases to exist, the secretary of state for Health and Social Care announced.
Schemes’ endgame decisions could be hit by IFA shortage
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December 6, 2019
Pension schemes using enhanced transfer value exercises as a way to reach an endgame solution could soon see their journey delayed, as new rules coming into the advice sector are reducing the defined benefit transfer market.
Civil servants told to complain about pension overpayments
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December 6, 2019
On the go: The Public and Commercial Services Union is advising its members to not comply with a request from the Civil Service Pension Scheme administrator and present a formal complaint if necessary.