All Law & regulation articles – Page 140
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News
Webb reveals further detail on guidance guarantee
Pensions minister Steve Webb released this week further details about the upcoming guidance guarantee, with concerns mounting on the timetable for its implementation and the subsequent burden on pension schemes.
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Features
Employers ensure AMD ban does not drive up active member fees
Employers have managed to keep active scheme member fees steady while scrapping higher charges for deferred members, after one provider agreed to swallow the cost of next year’s ban.
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News
Provider's failed attempt to reclaim death benefit sets rectification warning
Schemes have been reminded they cannot simply revoke decisions if a mistake has been made, after the pensions ombudsman ruled against a scheme provider that tried to claw back death benefit payments.
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FeaturesTfL faces fresh demands for contract worker DB membership
Transport union RMT has reignited calls for all Transport for London employees undertaking work on a contract basis to be allowed to join its defined benefit pension fund.
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Features
IBM case a lesson to consider scheme history
Schemes must look at historical context when considering and communicating benefit changes, lawyers have urged, after the High Court ruled earlier this month that technology company IBM breached its duty of good faith with employees when closing its defined benefit scheme.
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News
Consultants expect DC flexibility to drive DB member transfers
Defined benefit schemes could see a short-term increase in requests from members to switch their benefits into defined contribution schemes, due to potential government plans to restrict such transfers, benefit consultants have predicted.
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Features
Schemes mull increased benefits for same-sex spouses
Schemes are considering whether to set benefits provided to same-sex husbands and wives at or above the statutory minimum, lawyers have reported, with the first marriages taking place last week.
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News
Scheme costs to ratchet up under IORP II revision
Trustees and schemes will face substantial administrative burden after the European Commission announced revisions to its incoming pension fund directive, including a requirement to continually evaluate environmental risk, which have been deemed “too prescriptive” by experts.
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News
Charge cap consultation ramps up governance, weakens employers
News analysis: Defined contribution scheme representatives will see governance responsibilities increase after the pensions minister announces further reforms to ensure members get value – with a backdrop of industry debate on the charges cap.
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News
The Cut – How today's IORP II revision affects your scheme
The European Commission has today proposed revisions to the IORP II directive which will introduce new governance requirements, encourage investment in long-term assets and require cross-border schemes to be fully funded.
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Features
Local authority scheme members flock to beat AVC tax deadline
Local government scheme members are rushing to take their entire additional voluntary contributions as tax-free cash after widespread communication campaigns, before the option is expected to expire as LGPS reforms come into effect tomorrow.
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Opinion
Why trustees are caught in the middle on pension liberation
In this week’s edition of Informed Comment, Hogan Lovells’ Jill Clucas argues scheme trustees are between a rock and a hard place on battling pension liberation, and looks for a solution.
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Features
Local authority schemes expect modeller to boost engagement
Scheme managers hope a new pensions modeller will stop members opting out as result of local government pension scheme changes by showing them how their benefits will be affected by the reforms.
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News
Schemes delay mergers over tax risk concerns
Schemes are thinking twice about undertaking bulk transfers of benefits to avoid the risk of passing on individual tax charges to members as they await final official rules.
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Opinion
The latest on reconciling GMPs and how it affects your scheme
Aries’ Ian Neale gives scheme managers an update on reconciling guaranteed minimum pension entitlements and how schemes are coping with the issue, in this edition of Technical Comment.
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News
Fair deal fog leads to pricing concerns for employers
Private sector employers bidding for central government contracts are facing difficulties building pension strategies into their costs due to uncertainties surrounding contribution rates and exit payments in the new fair deal guidance.
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News
Civil partner rule uncertainty poses questions for trustees
Schemes may want to consider holding off adjusting their spousal benefits, after a tribunal overturned a previous ruling that deemed entitlements should take into account membership pre-dating the Civil Partnership Act 2004.
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News
Deciphering the govt's charges disclosure call
The government has today tabled an amendment to the pensions bill which will call for pension providers to disclose transaction costs of defined contribution schemes.
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NewsDerivatives regulation leaves schemes liable for manager reporting
News analysis: Trustees could be found liable for their investment managers not reporting derivative trades under extended derivatives regulation, with legal experts recommending reviewing contracts to hard-code duties.
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NewsBAE shrinks pensioner committee in efficiency bid
BAE Systems is reducing the size of its joint pensioner committee as part of a comprehensive review of the body, as technological advances have made it easier to communicate with members.