All Law & regulation articles – Page 106
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News
Last-minute dash expected for master trust authorisation
On the go: Only eight master trusts have applied for authorisation with the Pensions Regulator, leading to expectations that there will be a last minute dash as the March 31 deadline looms.
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Court fines Mansoor Nasir £5,000 for workplace pension lies
One the go: Bradford-based accounts manager Mansoor Nasir, who tried to hide the fact that restaurants had not given their staff workplace pensions, has been fined £5,000.
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DWP consultation ramps up pressure on small schemes to consolidate
The Department for Work and Pensions is ramping up the pressure on small schemes to consolidate and to consider long term illiquid investments.
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Insurers brace themselves for DB superfund disruption
Insurers are bracing themselves for disruption by superfunds, but their desire and capability to establish their own defined benefit consolidation vehicles remains unclear.
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TPR confirms Now Pensions admin crisis largely over
On the go: The Pensions Regulator has confirmed today that Now Pensions has overhauled its administration system.
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Public sector pension bill to rise to £4bn a year after court ruling
On the go: The taxpayer could face extra public sector pension costs of £4bn a year following a court ruling last year that the government discriminated against younger judges and firefighters in both the Firefighters and Judicial Pension Schemes.
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UK retirees in the EU could see their state pension frozen, warns Altmann
On the go: Hundreds of thousands of UK citizens who have retired to the EU could lose out on state pension increases if there is a no deal Brexit, former pensions minister Ros Altmann has warned.
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PLSA: Shareholders’ resolutions against FTSE directors’ pay triple
On the go: Shareholder activism is on the rise. Across Britain’s major companies in the FTSE 350, 148 annual meeting resolutions attracted ‘significant’ dissent levels across 82 different companies in 2018, recent research has shown. Executive pay and directors’ election were the top areas of concern.
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UK’s EU pensions liabilities could reach €9.75bn
On the go: The UK’s share of the EU’s pension is liabilities could be as much as €9.75bn (£8.52bn), Lord Bates told Parliament on Monday.
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NewsFCA investment pathway proposals welcomed, but concerns remain
The Financial Conduct Authority’s recent proposals on investment pathways have been widely welcomed, but questions remain over the suitability of ready-made drawdown solutions.
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FCA proposes rules on investment pathways
On the go: The Financial Conduct Authority has set out its second proposed package of remedies from its Retirement Outcomes Review, in a consultation on investment pathways, ensuring investment in cash is an active decision, and actual charges information.
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XPS: ‘GMP equalisation will be less costly than feared’
On the go: The cost of addressing inequality in guaranteed minimum pensions may be a lot lower than expected at less than 1 per cent of total liabilities for over half of all schemes, according to consultancy XPS Pensions.
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Government provides £329m safety net to Nest
On the go: The government has given Nest, the workplace pension provider, a contingent liability guarantee of £329m to enable it to comply with the tough new master trust regime amid accusations of unfair state aid.
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BSPS review calls for more guidance for schemes on restructuring
On the go: An independent review of the communications and support provided to steel workers as part of the British Steel Pension Scheme ‘Time to Choose’ exercise has called for better guidance for trustees to help them plan and manage a restructuring.
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24 companies wound up since 2015 due to pensions misuse
On the go: Since 2015, the Insolvency Service has applied to the courts to wind up 24 companies involved in pensions misuse, according to the government agency.
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FeaturesSchools and colleges warn of ruinous £1.1bn pension hike as DfE consults
The survival of some state schools, colleges, universities and independent schools is threatened by the £1.1bn rise in the employers’ contribution to the Teachers’ Pension Scheme from 1 September 2019.
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Health secretary in talks with chancellor over pensions tax relief
On the go: Matt Hancock, the secretary of state for health and social care, is in discussions with the chancellor over the issue of pensions tax relief and the impact it has on GP retention.
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APS trustees given go ahead to use scheme assets to fund appeal
On the go: Trustees of the Airways Pension Scheme have been given permission to use scheme assets to fund an appeal to the Supreme Court over APS discretionary increase litigation.
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FeaturesTaylor Wimpey foresees £20m GMP funding hit
One of Britain’s largest house-building companies, Taylor Wimpey, has announced that its pension scheme liabilities will increase by up to £20m in the wake of a recent legal ruling on guaranteed minimum pensions.
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FCA warns of looming retirement poverty prospect
On the go: Inadequate retirement incomes that do not meet consumers’ expectations remain the central challenge for the pensions industry, according to the Financial Conduct Authority.