All Law & regulation articles – Page 128
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News
HMRC buys more time on EU VAT issue
HM Revenue & Customs has delayed its guidance on alternative solutions for employers seeking to recover value added tax on defined benefit pension administration costs, prompting speculation that a decision will not be made until Brexit negotiations advance further.
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News
Ombudsman ruling highlights need for member understanding
The Pensions Ombudsman has sided with technology company Honeywell after a member of one of its pension schemes complained it had caused him to pay more tax than necessary.
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News
Scheme rules may block Treasury's advice allowance plans
The Treasury has opened a consultation on the introduction of a pensions advice allowance, which would allow members of defined contribution schemes to use up to £500 of their pot to pay for tax-free regulated financial advice.
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FeaturesBushfire of pension discrimination cases spreads to firefighters
The Fire Brigades Union has raised a legal challenge against fire service employers and the government regarding alleged discrimination as a result of transitional protection arrangements.
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News
Select committee seeks views on expanding regulator powers
The Work and Pensions Committee is to consider amending the powers of the Pensions Regulator and the make-up of the Pension Protection Fund as part of its ongoing inquiry into the Pension Protection Fund and the Pensions Regulator following the collapse of BHS.
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NewsSelect committees: Philip Green has 'moral duty' to help fix BHS pension deficit
A joint report published by the Work and Pensions Committee and the Business, Innovation and Skills Committee found negligence caused BHS’s pensions deficit, and opened the possibility of increasing the Pensions Regulator’s powers.
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News
Altmann slams PPF cap change delays
If Baroness Ros Altmann was less outspoken on issues of reform during her stint as pensions minister, she is certainly making up for lost time, launching her fourth attack on government policy in almost as many days.
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FeaturesPlumbing scheme plans to seek guidance from Scottish courts as government drags feet on s75
Plumbing Pensions’ prolonged consultation with a departing employer over its exit fee has brought to light fundamental problems with section 75 debt legislation as it currently stands for non-associated multi-employer schemes.
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News
Uptick in scams prompts call for tighter regulation
A recent increase in reports of suspected pension scams has been called “the tip of the iceberg”, as experts said tighter legislation would help schemes ensure their members do not lose hard-earned retirement savings.
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NewsWebb: New face at DWP will not loosen Treasury's grip on pensions tax
Philip Hammond’s appointment as chancellor of the exchequer is unlikely to see the Department for Work and Pensions regain control of pensions reform, according to former pensions minister Steve Webb.
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News
Regulator's annual statement omits Brexit implications
The Pension Regulator’s 2015-2016 annual statement has pinpointed the main changes and risks the UK pension industry faces, but has not taken into account recent economic turmoil and its effect on the pensions landscape, industry experts have said.
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FeaturesFinal date set for Box Clever trustee and ITV showdown
Trustees of the Box Clever Pension Scheme and ITV were back in court last week, in the latest round of a four-year legal battle to force the broadcasting giant to help make good the fund’s £90m deficit.
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News
What will the Leave vote mean for Project Pool?
As the July 15 deadline for local government pension schemes to submit their asset pooling proposals approaches, experts have warned local schemes to expect delays to 'Project Pool' following the Brexit vote, but cautioned other obstacles might also arise.
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Opinion
Proposed trusteeship diploma gets mixed response
The Pensions Management Institute and the Association of Professional Pension Trustees have announced the launch of a joint consultation to introduce a Diploma in Pension Trusteeship to improve trustee education and standards of scheme governance.
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News
Finalised IORP II may not make it to UK after Brexit vote
A provisional final text of the EU’s revised Institutions for Occupational Retirement Provision directive was published last week, as the UK’s presumed exit from the bloc cast doubt over its implementation.
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OpinionRaising standards of trusteeship
As we continue to develop our support for the 21 century trustee, it is clear many are doing a great job in challenging circumstances. These trustees are setting enviable standards of best practice.
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NewsPensions shrouded in uncertainty as UK votes to leave
The pound fell on Friday following news the United Kingdom had voted to leave the European Union, but experts warned schemes not to overreact.
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News
Experts eye hedging and CPI as UK DB deficit up £170bn in weeks
UK defined benefit pension deficits grew by £170bn over seven weeks in the run-up to the EU referendum, jumping to £900bn as market volatility following the result put further strain on funding positions.
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News
GPP provider list will raise standards, trustees say
The Pensions Regulator has added the first group personal pension provider to itslist of recommended GPPs open to all employers. It expects more providers to apply for inclusion, and said GPP demand will increase ahead of auto-enrolment compliance deadlines.
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News
British Steel’s proposed changes raise difficult questions
Discrepancies between the government’s recommendations for how BSPS should proceed and the scheme’s proposed alterations to its rules might make reaching a decision about its future on June 23 harder.