Ahead of a vote in the House of Lords on the Pension Schemes Bill, Conservative MP Helen Whately spoke on her party’s opposition to the mandation power for a special episode of the Always a Pensions Angle podcast.
Trustees and scheme managers must understand which artificial intelligence (AI) systems their scheme and service providers use and be able to answer a range of questions about them, the regulator has said.
HM Treasury initially planned to take on the two defined benefit pension schemes in 2025, but this is now expected to take place by early 2028.
Legislation promised in the Budget report will make it easier to consolidate the retirement sections of CDC and traditional defined contribution schemes.
Financial markets remained sanguine following chancellor John Healey’s Budget speech as he pledged to maintain fiscal discipline and did not reveal any major surprise announcements.