All Law & regulation articles – Page 16
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NewsUSS confirms full restoration of benefits on course for April 2024
The Universities Superannuation Scheme has confirmed that restoring benefits cut last year will cost less than employers and staff are currently paying into the pension scheme.
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NewsTPR publishes EDI guidance for scheme trustees and sponsors
The Pensions Regulator has published equality, diversity and inclusion guidance for pension scheme governing bodies and employers.
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NewsBank of England: LDI strategies need 250bp collateral buffer
The Bank of England’s Financial Policy Committee announced on March 29 a recommendation to the Pensions Regulator that it specify “minimum levels of resilience” in relation to pension schemes’ liability-driven investments to avoid damaging feedback loops from being forced sellers of assets.
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NewsDB funding code is full of unintended consequences
The Pensions Regulator’s draft defined benefit funding code has received some praise, yet for many it falls short of providing both stronger governance and greater certainty for schemes and sponsors.
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NewsDelaying state pension age rise by 7 years will cost £60bn, says IFS
Delaying the planned increase in the state pension age by seven years to 2044-46 from 2037-39 is likely to cost the exchequer more than £60bn, according to the Institute for Fiscal Studies.
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NewsBank of England raises interest rates to 4.25%
The Bank of England has raised the base rate of interest, despite concerns over the impact this will have on the banking sector.
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NewsUse dashboards delay to achieve ‘dramatic improvements’ in data
Pensions schemes that apply data matching techniques could see “dramatic improvements in the quality of their member data”, and should use the dashboards programme delay to get their data “dashboard ready”, according to new research sponsored by LCP.
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NewsGovt delays plans to raise state pension age to 68
Ministers have delayed plans to raise the state pension age to 68 amid falling life expectancy in the UK, according to reports.
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NewsMPs to examine future of DB pension schemes
The Work and Pensions Committee has launched an inquiry that will review defined benefit pension schemes and the challenges they pose to members, trustees, employers and the Pensions Regulator.
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NewsBudget 2023: Chancellor’s box of tricks makes LTA disappear
Chancellor Jeremy Hunt has faced calls in recent weeks to relax the rules on certain pension tax allowances to further his campaign to encourage older workers back into the workforce.
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NewsBeware the ideas of March – or perhaps embrace them
The Budget rumour mill has been grinding away and suggests that chancellor Jeremy Hunt is set to loosen the reins on a number of pension allowances.
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NewsRising costs of retirement income not necessarily all bad news
The cost of meeting the minimum standard of the Pensions and Lifetime Savings Association’s retirement living standards increased by almost a fifth (18 per cent), or nearly £1,900 in 2022, according to the Aon UK DC Pension Tracker.
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NewsNew PPI report backs alternatives for DC investment strategies
Alternative assets may have a greater role in defined contribution strategies, offering both greater diversification and a hedge for volatility in public markets, according to a new report.
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NewsSports centre director to be prosecuted for pension fraud
On the go: The Pensions Regulator has accused Lee Bartholomew, 44, from Kent, of fraudulently deducting money from the salaries of employees of 1066 Target Sports Ltd, according to a note from TPR on March 1.
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OpinionValue for money consultation is a welcome start to 2023
More work is needed to protect members suffering on retirement, says HSBC Tomorrow Master Trust chief executive Alison Hatcher.
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NewsBSPS redress scheme comes into effect
On the go: The Financial Conduct Authority’s redress scheme for members of the British Steel Pension Scheme launched on February 28.
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NewsGovernment incentive plans are focused on wrong groups of workers
Government efforts to boost Britain’s economic activity should focus on supporting more mothers into work and helping older workers and those with a disability stay in work, not those who have already retired, according to new research published by the Resolution Foundation.
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NewsCalls for MPAA to be raised may overlook root of economic inactivity
The government has called on older people to re-enter the labour market to help boost economic activity, but has this generation been disincentivised by the very regulations designed to give them greater freedom and choice over accessing their pensions?
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NewsDashboard consultation: missed opportunities and a lack of clarity
The closure of the joint consultations on the long-awaited pensions dashboard have raised concerns about timing and the direction of both organisations running the show.
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NewsWomen main beneficiaries of state pension changes
The number of people receiving the state pension rose by 130,000 to 12.6mn in the year to August 2022 according to data by the Department for Work and Pensions.