All Law & regulation articles – Page 135
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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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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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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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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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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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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
GPP provider list will raise standards, trustees say
The Pensions Regulator has added the first group personal pension provider to its list 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.
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News
Landmark SPPA ruling sets gender equality precedent
The Scottish Public Pensions Agency has ordered North Lanarkshire Council to treat back pay settlements issued to female employees following years of salary discrimination as pensionable.
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NewsMarket instability tops referendum fears
Negative portfolio returns and prolonged unpredictability are the top concerns potential Brexit raises for pension stakeholders according to a new survey by pensions platform Mallowstreet. However, pensions insiders said these risks should already have started being addressed.
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News
MPs press government to incentivise ESG investment
Pension funds should do more to incorporate environmental, social and governance considerations into their investment decisions, a report by the House of Commons’ International Development Committee last week suggested.
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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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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
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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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
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.