All Law & regulation articles – Page 11
-
-
-
NewsLifetime allowance: Confusion and a 'cruel twist' follow its abolition
HMRC pensions data showed pension withdrawals have risen 67 per cent since 2020 as 'cruel twist' shows soaring lifetime allowance and annual allowance charges in 2022.
-
NewsEvery pension scheme should have at least one accredited trustee on its board
The Association of Member Nominated Trustees (AMNT) said the accredited trustee on the board can either be lay or professional, and that pension schemes and scheme sponsors should encourage and pay for all trustees' training and accreditation.
-
NewsBank of England holds base rate at 5.25 per cent
The financial services industry has welcomed the UK central bank's decision to keep the base rate on hold at 5.25 per cent.
-
NewsTPR: Why pension administrators are in the regulator’s sight
Policy initiatives including pensions dashboards and value for money, as well as challenges including Covid and cyber leaks, have prompted The Pensions Regulator to change its approach to the regulation of administrators.
-
NewsFuture of state pension triple lock guarantee is 'turning into a game of pensions poker’
The future of the triple lock has been plunged into further doubt after Labour’s Angela Rayner refused to be drawn on her party's commitment to keeping it.
-
NewsAt least 50 per cent of schemes have a professional trustee
Half of UK pension schemes now have a professional trustee, while a third have a sole trustee, according to consultancy LCP.
-
NewsPension scams cost victims more than £26m - PMI
A freedom of information (FOI) request has revealed that 1,595 pension scams were reported between 2020 and 2022.
-
NewsPensions industry urges for levy change as PPF halves 2024/25 estimate to £100m
The Pension Protection Fund (PPF) said it had been able to reduce the levy from an original estimate of £200m to £100m in the financial year 2024/25, but industry watchers are urging for a change in the law to allow the amount to reflect improved scheme funding.
-
NewsState pension triple lock could cost up to £45bn a year by 2050
As the Office for National Statistics prepares to release its estimate for average earnings growth, the Institute of Fiscal Studies (IFS) issues a warning over the cost of the triple lock to taxpayers.
-
NewsPensions, savings and inflation expected to be addressed in Chancellor's Autumn Statement
The government has confirmed this year’s Autumn Statement will take place on 22 November, and has pledged to halve inflation by the end of the year.
-
NewsDWP’s DC retirement income consultation receives thumbs up from industry
There has been broad support for theDWP’s consultation on defined contribution (DC), or the so-called Mansion House reforms, particularly in relation to how savers access income in retirement.
-
NewsMansion House surpluses: pie in the sky or route to self sufficiency?
Barnett Waddingham’s assertion that the so-called Mansion House ‘reforms’ would have delivered as much as £50 billion in surpluses to FTSE 350 companies, had the strategy already been in place, received a mixed reception when wereported on it on 21 August.
-
NewsTPR publishes McCloud guidance on annual benefit statements for public schemes
The Pensions Regulator (TPR) haspublished guidance for public service pension schemes on producing annual benefit statements over the next two years to reflect the McCloud remedy.
-
News‘Economically inactive’ over fifties lack confidence in their skills, not a will to work
The government has put a great deal of effort – not to mention tax reform – into encouraging older workers back into the workplace.
-
NewsSPP: Decumulation reforms must build on successes of auto enrolment policies
The Society of Pension Professionals (SPP) has issued feedback to the the Department of Work and Pensions (DWP)’s consultations on small pots and helping savers understanding their pension choices/decumulation.
-
NewsHMRC fills its boots on £2.6 billion bumper IHT receipts
HM Revenue and Customs (HMRC) has disclosed thatinheritance tax (IHT) receipts for the latest period (April to July) were £2.6 billion, £0.2 billion higher than in the same period in the previous year. July alone saw £603 million raised.
-
News'Furious' TPR workers to go on strike for equal pay
Pensions Regulator staff who are members of the Public and Commercial Services (PCS) union are to strike for two weeks over pay.
-
NewsACA demands HMRC have LTA abolition rules ready by October
The Association of Consulting Actuaries (ACA) has called on HMRC to have put in place the rules to abolish the lifetime allowance (LTA) by October.