All Law & regulation articles – Page 23
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NewsFCA agrees £235mn payout with Link after Woodford probe
Investors in the Woodford Equity Income Fund are to receive redress nearly four years after the fund’s suspension.
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NewsReport: parliamentarians call for greater accountability of regulators
A group of Conservative MPs, including former ministers and a previous chair of the Competition and Markets Authority, have called for greater parliamentary accountability of the UK’s regulators.
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NewsAltmann: ‘Older pensioners must not be abandoned’
The government was right to raise state pensions in line with inflation this year after it “abandoned” pensioners in 2022, former pensions minister Baroness Ros Altmann has said.
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NewsLDI: all in it together, but some responsibilities are regulators’ alone
The Pensions Regulator published new guidance on April 24 that outlined how leveraged liability-driven investment should be used within defined benefit schemes’ investment strategies.
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NewsTPR authorises first CDC pension scheme
The Pensions Regulator has authorised the UK’s first collective defined contribution pension scheme.
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NewsDisappointment over DB funding code delay
When the Pensions Regulator released its 2023-24 corporate plan last week, it revealed that it had put its long-awaited and much-vaunted defined benefit funding code on the back burner.
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NewsDB funding remains strong, but transfers remain high risk
The March 2023 PPF 7800 index estimates the aggregate surplus of the 5,131 schemes it covers to have decreased over the month to £359.3bn as of March 31, from a surplus of £381.4bn at the end of February, a fall of almost 6 per cent.
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NewsUCU declares ‘historic victory’ over recovery of ‘stolen pensions’
The University and College Union declared a “historic victory” on April 17 after members voted overwhelmingly by 85 per cent to move forward with pension proposals agreed with employers, leaving the door open for benefits to be restored.
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NewsIFS launches review of pensions system in new report
The Institute for Fiscal Studies has launched a wide-ranging review of the pensions system, looking at whether people are saving enough and if more support is needed for people to use their funds appropriately.
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NewsLabour could ‘review and restructure’ LTA
A change in parliament could be reflected in the lifetime allowance, according to Rosalind Connor, managing partner at ARC Pensions Law.
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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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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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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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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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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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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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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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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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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.