Latest articles from Sonia Rach

DWP makes six further state pension errors since 2007

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On the go: The Department for Work and Pensions has made a series of state pension errors, prior to the current large-scale correction exercise, according to a Freedom of Information request.

NHS workers make up a third of annual allowance breaches

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On the go: At least 34 per cent of all people who exceeded the annual pension contribution allowance in 2019-20 were members of the NHS pension scheme.

Schemes and providers team up to push pensions engagement

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On the go: Around 15 pension providers and schemes representing approximately 41.5mn savers and customers have committed to support a campaign to encourage engagement with pensions.

Platform launches pensions dashboard sandbox

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On the go: Pensions Dashboards Programme partner Moneyhub has launched an interactive sandbox to show how the pensions dashboards could potentially work.

FCA plans £71mn redress scheme for former British Steel members

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On the go: The Financial Conduct Authority has set out plans to deliver £71.2mn in compensation to former members of the British Steel Pension Scheme who received unsuitable advice to transfer out of their pension.

Pension receipts to reach £1.7bn amid rise in cost of living

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On the go: The Office for Budget Responsibility has revised its forecast of tax paid when people access their pension funds, expecting it to reach £1.7bn in 2021-22.

BSPS members’ compensation falls short by £18mn, NAO finds

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Compensation for members of the British Steel Pension Scheme has fallen short by £18mn, according to a report by the National Audit Office, which warned that the risk of large numbers of savers looking to transfer out of a defined benefit pension still remains.

Anti-scam rules result in 500 safeguarding interviews to date

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On the go: Nearly 500 people have so far completed a pensions safeguarding guidance interview since new anti-scam rules were introduced at the end of November 2021. 

Regulators need advice and guidance take-up targets

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On the go: Conservative MP Nigel Mills has argued that the government needs to set a target or benchmark on what the level of take-up of advice and guidance needs to be for pension savers.

AE reform unlikely to get through in time for Queen’s Speech

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On the go: Pensions minister Guy Opperman has said the auto-enrolment reform bill will not get through in time for the Queen’s Speech in May.