All Law & regulation articles – Page 133
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NewsWhat will British Steel’s rule changes mean for pensions?
Experts agree the changes being proposed to the British Steel Pension Scheme will impact salary-related pensions more broadly, but differ on whether the long-term effects will necessarily be negative.
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NewsSwitching BSPS indexation to CPI could set legal precedent
A four-week public consultation on the British Steel Pension Scheme launched by the government this week could pave the way for an indexation switch aimed at significantly reducing Tata Steel’s pension liabilities, which could reverberate across the private sector.
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Opinion
Change in law is needed to stop scammers, experts say
Scam activity could be present in as much as 11 per cent of pension transfer requests, consultancy Xafinity has found. Trustees and lawyers say legal constraints prevent them from protecting individuals.
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News
Proposed early exit charge cap gets mixed response
The Financial Conduct Authority yesterday proposed capping exit charges at 1 per cent of pot value for existing contracts, while banning them altogether for future contracts.
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News
Hogg Robinson pays £12.8m in rectification case
Corporate travel company Hogg Robinson has incurred £10.5m in past service costs and £2.3m in legal costs following rectification of a mistake in a deed of amendment to the scheme.
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News
Companies slow to update life cover as LTA bites
A recent report found only a quarter of the surveyed companies have excepted life assurance policies in place, despite potential disruption by the new lifetime and annual allowance limits.
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News
Queen's speech promises mastertrust regulation
Long-anticipated mastertrust legislation was announced in the Queen's speech this week, providing protection for consumers and increased powers for the Pensions Regulator, but details are still sparse.
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News
DWP launches online tracing site as demand booms
The Department for Work and Pensions has launched a new website for the government's pension tracing service, as the number of people seeking their deferred pots has ballooned over the past decade.
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NewsLGPS calls for details of government intervention
Local government pension experts have called on the government to give more details regarding controversial plans to introduce intervention powers for the secretary of state over investment decisions.
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OpinionDoors remain open as FAS prepares to close
As the Financial Assistance Scheme nears its closing date, Sue Rivas summarises the key facts and offers any remaining eligible schemes the chance to apply for funding.
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FeaturesHalcrow plots rescue of DB scheme
Engineering company Halcrow’s pension scheme is expected to agree a liability-management exercise in coming weeks after the High Court ruled a previous proposal was illegal.
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FeaturesThe push-me-pull-you: In which direction is UK retirement saving headed?
Analysis: The introduction of a workplace Isa, mooted in a new proposal this week, could present both the UK workforce and employers with a radical new alternative, but how can developments in government policy drive the sea change needed in the UK’s savings culture?
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News
Consultations to flesh out details of secondary annuity market
The Financial Conduct Authority and HM Revenue & Customs have both launched consultations to shed further light on how the secondary annuity market could work, but questions were raised about the projected level of take-up.
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News
Regulator announces mastertrust crackdown
The Pensions Regulator has announced plans to crack down on poorly governed mastertrusts, as auto-enrolment begins to show clear winners and losers among schemes.
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NewsEiopa opts for standardised risk framework
The European Insurance and Occupational Pensions Authority has advocated the creation of a standardised framework for risk assessment and transparency in EU pension funds, quashing long-running fears of a shift to more stringent solvency funding requirements.
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News
Union seeks parliamentary debate on LGPS pooling
A parliamentary petition launched by public service trade union Unison, seeking debate on the pooling of Local Government Pension Scheme assets, has attracted nearly 30,000 signatures and could spell delays to progress in the pooling project.
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FeaturesFallout from contracting-out continues at Bombardier
Workers at engineering company Bombardier are considering industrial action over employer plans to pass on the cost of contracting-out cessation to members of two of its defined benefit schemes, while sharing the cost for the Railways Pension Scheme.
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Features
Long-term saving solution continues to elude pensions industry
Missed by many amid the Budget’s pomp and circumstance, the summary of responses to the government consultation – ‘Strengthening the incentive to save’ – contains a resounding call for stability but no clear solution to the nation’s savings crisis.
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OpinionWhat a move to CPIH could mean for UK pension schemes
Analysis: A letter from the Office for National Statistics recently cast ripples of doubt over the future shape of UK consumer inflation statistics; a move to consumer price inflation including housing, or even a household inflation index could have far-reaching effects on UK pension fund benefits and liabilities.
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NewsLifetime Isa blurs lines between long and short-term saving
Budget 2016: The dreaded tax change on pension saving has been narrowly avoided in the chancellor’s Budget 2016, but the announcement of a Lifetime Isa could be a step towards a pensions Isa, industry comments suggest.