All Guy Opperman articles – Page 5
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Opperman guarantees none of TPR’s new powers will be retrospective
On the go: The minister for pensions and financial inclusion has guaranteed that the Pensions Regulator’s new criminal sanctions and information-gathering powers will not be applied retrospectively.
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Small pots report recommends member exchange trials
The pensions industry should begin work to facilitate mass exchanges of sub-scale defined contribution accounts, according to a government-commissioned working group looking to address the problem of small pots.
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NewsWeekly roundup: It’s not easy being Green
Welcome to Pensions Expert’s roundup of a week in which we bade farewell to a few of the high street’s better-known names, and the Pension Protection Fund brightened everyone’s mood with its new doomsday scenario.
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Opperman follows through on share-voting promise
On the go: The Department for Work and Pensions has launched a new working group to examine ways to give investors in pooled fund products greater influence in voting shares and securities owned on their behalf.
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MPs reject proposal to make schemes carbon neutral by 2050
On the go: MPs have rejected a measure that would see UK pension schemes being compelled to be carbon neutral by 2050, as it would lead to “negative outcomes”.
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Labour pushes climate change, superfunds, dashboard amendments
Senior Labour party figures including leader Keir Starmer have put their names to a series of amendments to the pension schemes bill, covering climate change targets, superfunds legislation and the pensions dashboards.
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MPs to pressure Opperman into commitment on scam ‘red flags’
Five members of parliament, including Work and Pensions Committee chair Stephen Timms, have tabled an amendment to the pension schemes bill designed to pressure pensions minister Guy Opperman into clarifying the government’s position on pension scams.
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Minister pledges more power for trustees to vote own shares
On the go: The minister for pensions and financial inclusion has endorsed a recommendation for the creation of a government-led working group to increase the power pension schemes have to direct engagement with investee companies on sustainability issues.
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Regulator urges sign-up to new anti-scam pledge
On the go: The Pensions Regulator has urged pension providers, trustees and administrators to sign up to a new pledge to protect members from the growing threat of scams.
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Open schemes predict £160bn liability hike with new TPR rules
On the go: Open defined benefit schemes could see their liabilities increase between £120bn and £160bn due to the new funding rules proposed by the Pensions Regulator.
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Govt to tighten guidance rules for accessing pensions
On the go: The Department for Work and Pensions plans to require providers of workplace pensions to signpost guidance whenever savers look to access or transfer their pots.
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SNP revives pensions commission in bill amendment
On the go: Two Scottish National party MPs have tabled an amendment to the pension schemes bill to set up a new pensions advisory commission.
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Govt pushes back against dashboard scam protections
On the go: The government has moved to reverse an amendment to the pension schemes bill that sought to exclude all financial transactions from the pensions dashboard to protect savers from scams.
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Experts pour scorn on ‘pensions as deposit’ suggestion
On the go: The pensions minister’s appeal for suggested schemes that would let young savers use their retirement savings to help them on to the property ladder has been criticised as ignorant of the laws of supply and demand by pensions commentators.
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Timms warns transfer rules ‘must be changed’
On the go: Stephen Timms, chair of the Work and Pensions Committee, has warned that transfer rules are not working and must be changed if the industry is to put a stop to pension scams.
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Opperman tells savers to engage with pensions to fix climate
On the go: Savers can play an important role in addressing climate change by paying more attention to their pensions and where they are invested, pensions minister Guy Opperman has said.
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PodcastsPodcast: Arguments for DC consolidation stronger than for DB
Podcast: The pace of defined contribution consolidation could accelerate on the other side of the coronavirus pandemic, but mergers are a less obvious boon for define benefit, say Squire Patton Boggs partner Kirsty Bartlett and Hadassah Shulman, senior associate at Taylor Wessing.
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DWP launches working group to tackle small pots problem
On the go: The Department for Work and Pensions has launched a working group in collaboration with industry to propose solutions to the challenges posed by small pots.
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Nest and DWP to analyse Covid-19 impact on self-employed savers
On the go: The government-backed master trust is to examine the financial impact of Covid-19 on self-employed people, with the pandemic delaying its practical tests expected this year.
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Mercer launches DB master trust as demand for consolidation increases
Mercer has launched a new defined benefit master trust promising sponsors enhanced governance and economies of scale, amid an accelerating trend towards consolidation and outsourced solutions, with pensions minister Guy Opperman stating that “bigger is better”.