All Law & regulation articles – Page 131
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News
Court of Appeal safeguards bankrupts’ undrawn pensions
Savers who become bankrupt but have not yet drawn their pensions will not have to hand them to creditors, after a court ruling on Friday put an end to fears that pension pots were at risk.
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News
One-stop guidance shop to replace MAS, TPAS and Pension Wise
Financial guidance resources the Money Advice Service, The Pensions Advisory Service and Pension Wise will be replaced by a single body, the Treasury and the Department for Work and Pensions said yesterday.
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News
Nest drawdown proposals: Competitors fear disruption
The dust has settled on government's call for evidence on the expansion of Nest into the drawdown market, but it seems the war of words between industry professionals is far from over.
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News
DC schemes drown in regulatory change and jargon
Trustees of occupational defined contribution pension schemes are increasingly failing to meet governance requirements due to excessive regulatory change, a panel of industry figures has said.
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News
TPR uses lesser-known power to move scheme into the PPF
The Pensions Regulator has used its voidable modification powers to move a scheme attached to an insolvent employer into the Pension Protection Fund, it reported this week.
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News
FCA lights the way on transparency
‘A big flashing neon light’ marking the direction of travel on transparency has been lit by the Financial Conduct Authority with its proposal to make asset managers disclose transaction costs to defined contribution schemes.
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OpinionUnpacking the proposed DB bill
Aries Insight’s Ian Neale gives us a primer on the defined benefit bill proposed by Frank Field MP, which promises to set a path for how the contentious issues will be tackled.
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News
Advice requirement rules could spell end to consumer confusion
The Department for Work and Pensions last week issued a consultation on draft regulations aimed at simplifying the way safeguarded flexible benefits are valued in relation to the freedom and choice advice requirement.
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News
Select committee inquiry: What should change to safeguard DB?
As the deadline for submitting views on defined benefit to the Work and Pensions Committee has passed, experts say there is a need for greater flexibility, potential benefit reductions and increased powers for the Pensions Regulator.
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NewsQuestions surround Bernard Matthews sale as PPF prepares to step in
Turkey producer Bernard Matthews has gone into administration, with the pension scheme expected to enter the Pension Protection Fund assessment period, but questions remain as to why the scheme was allowed to fail.
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OpinionThe cost of freedom and choice
From the blog: The introduction of the freedom and choice reforms last year has boosted taxation and aggregate demand. But some retirees might now outlive their pension pots, risking penury.
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NewsLGPS guidance opens doors for both investment and intervention
Local government pension schemes will enjoy greater flexibility with their investment arrangements, guidance on forthcoming regulation indicates, but concerns remain about the scope for government intervention.
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NewsPensions Regulator: Cyber security should be key on risk registers
Trustee boards should be assessing their risk of cyber attack and taking steps to protect member data and scheme assets, the chief executive of the Pensions Regulator has said.
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News
Education and advice needed for future of saving
Closing the advice gap is crucial to preventing poor outcomes, as the need for savers to be educated about what will be necessary for retirement and the risks they face has increased.
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News'Patchwork quilt' of solutions threatens drive for transparency
Regulators and consumer groups have been warned against installing a “patchwork quilt” of solutions to increase transparency in asset management, as remedies to hidden charges within funds begin to emerge.
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News
Is the new Lisa bill signal or noise?
The government last week released its Savings (Government Contributions) Bill, ending speculation about the death of the lifetime Isa and raising questions about the future of pensions policy.
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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.