All Law & regulation articles – Page 124
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News
More people accessing freedoms, but industry image concerns remain
The number of people taking advantage of pension freedoms increased in the second quarter of this year, but while this signals an increased awareness of freedom and choice, experts say there is still a need to improve trust in the industry.
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NewsCMA referral still likely for advisory firms as FCA consultation closes
Apathy from the investment consulting industry to pro-competition measures suggested by the ‘big three’ firms is set to pave the way for a referral of the industry to the Competition and Markets Authority.
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News#AskTPR — Your questions for the regulator answered
The Pensions Regulator has updated its approach to regulation and the use of its powers in the face of an ever-changing retirement savings landscape — and it is ready to answer your questions.
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News
Government follows Cridland on state pension age
The government has announced its intentions to implement the recommendations of the Cridland report, bringing the state pension age from 67 to 68 seven years ahead of schedule.
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OpinionShould s67 be repealed?
Ian Neale from policy specialists Aries Insight looks at the recent debate around indexation, revaluation and section 67.
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News
DB white paper will be published in winter
The Department for Work and Pensions will consider giving further “proactive” powers to the Pensions Regulator and examine the case for consolidation, in a long-awaited white paper on defined benefit to be published in the winter.
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NewsPension law slowly catches up with society on equal rights
The Supreme Court has overruled the Equalities Act 2010 in Walker v Innospec, meaning pension schemes can no longer refuse pensions to same-sex spouses for pre-2005 service, but has stopped short of giving equal pension rights to a part-time worker.
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News
FCA cites ways to crank up consumer protection amid competition concerns
The rising number of consumers who buy drawdown without advice has given prominence to the need for greater support and protection, says the Financial Conduct Authority.
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OpinionTPR: Taking a proactive approach
The Pensions Regulator’s Nicola Parish looks at recent high-profile cases and what the regulator will do differently in future.
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News
Locum GPs call for pensions admin overhaul
Locum GPs are calling for an overhaul of their pensions administration as sporadic correspondence and scant communication cause confusion.
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News
Taylor review urges action on increasing AE coverage
The Matthew Taylor Review of Modern Working Practices highlights ways in which self-employed people could be helped to save for retirement, but questions remain.
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OpinionSleeping on the job – a hazard for trustees
From the blog: The long-running dispute involving the Coats Group defined benefit schemes finally came to a conclusion last month: the Pensions Regulator’s anti-avoidance investigation into Coats resulted in a £74m settlement for the third and final DB scheme under investigation.
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News
Cridland: Longevity as big an issue as climate change
Savers need to be more aware of the consequences of an ageing population on retirement saving, with providers, regulators and employers all having a part to play in improving engagement, say experts.
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NewsGauke calls for government and industry collaboration
In his first speech as Secretary of State for Work and Pensions, David Gauke called for consensus and collaboration to ensure a positive future for pensions, but admitted that it will take time to address some of the more challenging policy issues, from pensions tax relief to extending auto-enrolment to the self-employed.
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NewsWatchdog referral looms for investment consulting industry
Industry-led proposals to minimise conflicts of interest in investment consulting have been rejected by the Financial Conduct Authority, bringing firms a step closer to investigation by the Competition and Markets Authority.
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NewsRegulator’s BHS report focuses on areas of improvement
The Pensions Regulator has highlighted the lessons it has learnt from the BHS case in a recently published regulatory intervention report, as experts stress the need for more proactive engagement.
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NewsNo all-in fee for asset management firms
Asset management firms must disclose estimated and actual fees and transaction costs to clients, but should not be forced to charge a single fee for services, the Financial Conduct Authority has recommended.
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News
Triple lock to be retained in Tory-DUP deal
The Conservatives and the Democratic Unionist Party have struck a deal to maintain the triple lock, sparking concerns over what this means for pensions policy in the long term.
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OpinionSchemes need certainty on VAT
The VAT rules in relation to pension scheme costs are subject to change at the end of this year. However, it is still not clear what the extent of the changes will be and, importantly, what organisations should do in response.
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News
Pensions Institute: Relax DB promises to tackle PPF drift
Stressed schemes and employers should be allowed to reduce pension increases and gain easier access to Pension Protection Fund-plus benefit-restructuring methods in order to minimise “PPF drift”, a new academic paper has said.