All Law & regulation articles – Page 10
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NewsPre-Budget rumours spark record lump sum withdrawals, data shows
UK pension savers withdrew a record £10.4bn from their pensions using their tax-free cash allowance in the six months to the end of March, according to Financial Conduct Authority data.
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In DepthAmendment Watch: What changes are being proposed to the Pension Schemes Bill?
More than 270 amendments to the Pension Schemes Bill have been put forward for consideration by the parliamentary committee scrutinising the draft legislation. Pensions Expert looks at some of the most significant proposals.
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NewsBell fights back as pensions industry unites against investment mandation
Pensions minister Torsten Bell has argued that the proposed reserve power to mandate investments, contained in the Pension Schemes Bill, is necessary because of a “collective action problem” across the industry.
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NewsGovernment seeks to mitigate Virgin Media issue with Pension Schemes Bill amendments
Trade bodies, including the representative groups for actuaries and pension lawyers, have been lobbying the Department for Work and Pensions for months in relation to the issue, which relates to the interpretation of section 37 of the Pension Schemes Act 1993.
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NewsLib Dems table ‘universal advice’ amendment to Pension Schemes Bill
Liberal Democrat and Plaid Cymru MPs have tabled several major amendments to the Pension Schemes Bill as a parliamentary committee prepares to scrutinise the proposed legislation.
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OpinionThe Friday Takeaway: All eyes on parliament
The Pension Schemes Bill will be scrutinised by a committee of MPs next week, and there’s the prospect of another pensions-related bill on the horizon too, if the regulator gets its way.
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NewsMore clarity needed on targeted support proposals, industry tells FCA
The Association of Professional Pension Trustees, the Society of Pension Professionals, and the Association of British Insurers have all called for changes to the regulator’s proposals for targeted support.
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NewsTPR eyes more governance powers with Pension Reform Bill plan
The Pensions Regulator is seeking statutory powers through a new ‘Pension Reform Bill’ in relation to its oversight of administrators and professional trustees.
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NewsPensions UK to lobby for changes to mandation rules in Pension Schemes Bill
The retirement industry trade body is to step up lobbying against investment mandation when the Pension Schemes Bill returns to parliament next week.
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NewsRetailer escapes regulatory intervention with ‘proactive’ action on PPF-bound scheme
The owner of the Edinburgh Woollen Mill chain collaborated with trustees and the regulator to secure a £7m cash injection and lift the scheme out of the PPF’s assessment process.
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In DepthIn Depth: Rachel Reeves faces difficult Budget balancing act
Experts warn the government may be weighing up reforms to pensions taxation, with each option carrying major implications for savers and the Treasury alike. Sara Benwell reports on the various rumours and how they might be received.
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NewsState pension review launches with government seeking views on sustainability
The Department for Work and Pensions (DWP) has called for input to the state pension age review being conducted by Suzy Morrissey.
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NewsFCA raises concerns over pension transfer incentives
In a wide-ranging study of life insurers’ pension provision, the regulator has urged providers to ensure they are well resourced to support efficient transfers while also protecting savers from scams.
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NewsTPR: Trustees’ role in improving retirement support and adequacy
The regulator wants trustees to improve signposting of support services such as Pension Wise and MoneyHelper in “core communications”, after recent research showed a lack of awareness among savers.
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OpinionThe crucial role of trustees as HMRC delays tax relief top-up payments
Trustees, especially member-nominated trustees, will be crucial in communicating the effects of a recent government decision on tax relief top-up payments, writes Kate Upcraft of the Association of Member Nominated Trustees.
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FeaturesDC adequacy is ‘number one challenge for the decade ahead’ around the world
The Thinking Ahead Institute’s latest peer study warns that low contributions, cautious defaults and poor decumulation design are leaving members exposed – with income adequacy expected to take decades to resolve.
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NewsPensionBee launches petition for 10-day switch guarantee to end ‘pension purgatory’
Research from the pension consolidator has found that two-thirds of customers believe slow transfers can inhibit retirement planning.
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NewsTPR industry working group to scrutinise ‘practical approaches’ to climate change
The Pensions Regulator is seeking feedback by 1 September on current practices and challenges to inform the industry working group’s approach.
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NewsStop tweaking and start transforming pensions, says tech provider
UK policymakers must rethink the meaning of pension adequacy and use established solutions as benchmarks to deliver better retirement outcomes, according to Festina Finance, a European pension administration technology provider.
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NewsWhat the Pensions Commission will do – and what it won’t
The government has set out the terms of reference for the Pensions Commission, but also omitted several areas as being “out of scope” – which has led one former pensions minister to warn that the commission has “one arm tied behind its back”.