All Law & regulation articles – Page 116
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News
UK has lowest net replacement rates of average earners in OECD
A new report has highlighted markedly low replacement rates for UK savers amid increasing pensioner poverty due to ill health, emphasising the importance of increased saving into private pensions.
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News
New regime could reduce number of mastertrusts by a third
The government has set out draft regulations for defined contribution mastertrusts, estimating that the rules will cut the number of mastertrusts to about 56 from currently 87.
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NewsMPs launch inquiry into CDC
The Work and Pensions Committee has begun an inquiry into collective defined contribution schemes, but experts remain unconvinced of European-style risk-sharing, highlighting intergenerational and moral hazard risks.
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NewsEconomic gloom overshadows quiet Budget for pensions
Autumn Budget 2017: With chancellor Philip Hammond omitting pensions almost entirely from his speech, it was, as Barnett Waddingham senior consultant Malcolm McLean put it, a “steady as you go Budget”.
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NewsWorker status at centre of draft bill on gig economy
The Work and Pensions Committee and the Business, Energy and Industrial Strategy Committee have published a draft bill and a report on workers’ rights and the gig economy.
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NewsGovt to ban cold calls before 2020, but questions remain
The government is aiming to introduce a cold-calling ban before 2020 and has opposed the idea of compulsory guidance, as the Work and Pensions Committee continues to probe officials as part of its wide-ranging inquiry into pensions freedoms.
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FeaturesForces win back payout for family bereavement
The Ministry of Defence has agreed to introduce the Short-Term Family Pension to the Armed Forces Pension Scheme 2015. The provision, which is in place for members of the 1975 scheme, was not carried over to the new 2015 scheme.
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NewsGovt and industry aim to push impact investing onto scheme agendas
Trustees and employers should receive training on social impact investing and engage with scheme members to better align non-financial values, a report to government has recommended, but experts stress time constraints and practical hurdles.
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News
A million older workers fall into unemployment trap
An “unemployment trap” preventing older people from finding jobs requires a rethink of pensions and benefits policy, a new report claimed on Tuesday, as state pension age increases threaten to harm those left out of the labour market.
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Features
Is it time for a trustee code of conduct?
From politics to professional football, acting and the media, every corridor of power has been exposed, particularly in recent weeks, as rife with abuse and exploitation.
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NewsField: Members should have first claim on assets
Work and Pensions Committee chair Frank Field wants pension scheme members to have first claim on any assets from bankrupt sponsors, a debate on scrapping limited liability, and hopes to start an independent action group to support trustees.
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News
TPR reviews value for member assessments in DC
The Pensions Regulator has launched a review into value for member assessments in defined contribution funds, with a view to boosting better outcomes for members of smaller schemes.
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News
Seven in 10 professional trustees want standards body
Professional trustees have called for a body to set standards and monitor performance in the industry, but experts have cautioned against any measure that threatens the level of cognitive diversity on trustee boards.
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NewsLords want default guidance for pension savers
The House of Lords added more pressure to the government on Tuesday as a Liberal Democrat-led amendment to the Financial Guidance and Claims bill was passed by 283 to 201 votes.
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News
Divorced women lose out on £5bn in pension payments each year
Scottish Widows research has found that divorced women are missing out on £5bn in pension payments each year, as experts highlight the need for women to take professional advice on pensions during the divorce process.
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NewsFujitsu could see more strikes in jobs and pensions dispute
Union Unite is preparing to reballot employees at ICT company Fujitsu on strike action, in a long-running dispute that – among other things – involves a change to the ICL defined benefit section’s late retirement factor.
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FeaturesWhat can we expect from the Autumn Budget?
Analysis: The chancellor’s Autumn Budget is fast approaching, but the industry should not expect any radical pension changes from a weak government bogged down by Brexit, experts say.
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News
DC schemes to give members cost information online only
Defined contribution schemes should disclose costs and charges to members by signposting a link in their annual benefit statement, the Department for Work and Pensions has proposed, as the industry agrees communications need to be kept simple.
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News
DWP draft regulations to open up DC consolidation
The Department for Work and Pensions has attempted to smooth the path towards consolidation of defined contribution arrangements with draft regulations published on Thursday.
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NewsGovernment defeated over delays to cold-calling ban
The government was defeated in the House of Lords on Wednesday night by an amendment to the financial guidance and claims bill, which sought to bring forward plans to ban pensions cold-calling.