All Law & regulation articles – Page 29
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NewsPublic sector retirees face higher exit payment scrutiny
Substantial exit payments resulting from pension strain arrangements in the public sector will likely see people nearing retirement having their cases referred to HM Treasury, under a proposed new regime.
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NewsScams action group gets six-figure budget to tackle fraud
On the go: The Pension Scams Action Group, a renamed and revamped Project Bloom, is to get a six-figure budget to tackle scams across the next year, with the prospect of more to come.
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NewsWaiting times a problem as demand for Pensions Ombudsman rises
The Pensions Ombudsman has been successful in its application for additional funding, part of which will go towards establishing its new pensions dishonesty unit, and tackling customer waiting times as demand is expected to rise by at least 10 per cent over the next year.
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NewsLGPS responds to Israeli settlements database complaint
The Local Government Pension Scheme’s advisory board has provided an update regarding a database that lists companies active in the occupied Palestinian territories, after the UK Lawyers for Israel criticised the LGPS's summary of a January meeting with the then-UN special rapporteur on human rights in the occupied Palestinian territories, Michael Lynk.
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NewsGovt to consult on further LGPS McCloud regulations in 2023
On the go: The Department for Levelling Up, Housing and Communities is to consult on further regulations governing the application of the McCloud remedy to the Local Government Pension Scheme.
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NewsTruss hints at doctors’ pension fix
On the go: Conservative party leadership candidate Liz Truss has said she will “sort out” the problems with doctors’ pensions in a bid to tackle the staff retention crisis, though she has not yet said how she would go about doing this.
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NewsOmbudsman fines Capita for substandard administration
The Pensions Ombudsman has told Capita to pay £500 to a disgruntled scheme member as its communications “fell below the standards of good administration”, though the member’s substantive complaint was not upheld.
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NewsTPR revamps guidance on fiduciary management tender processes
The Pensions Regulator has published updated guidance on the tender process for fiduciary management services and trustees, setting objectives for investment consultants as it prepares to take over regulation of these duties this autumn.
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NewsBMA blasts Sunak role in NHS pensions taxation
The British Medical Association has hit out at Rishi Sunak for changes made during his time as chancellor of the exchequer to the tapered annual allowance of NHS pensions.
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NewsTPR unveils new scam-busting plan amid cost of living crisis
The increase in the cost of living may leave savers more vulnerable to scammers, the Pensions Regulator has warned, as it unveils a new three-year plan to protect individuals from pension scams.
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NewsNHS pension payments delayed as retirements surge 50%
More than a thousand NHS pensioners have seen their pension payments delayed as the NHS Business Services Authority, which administers NHS pensions, struggles to cope with a spike in retirements and resignations.
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NewsLondon Underground strike over pensions set for August 19
On the go: The National Union of Rail, Maritime and Transport Workers has confirmed that its London Underground members will carry out a 24-hour strike on August 19 over a pensions dispute.
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NewsMcCloud incentives see hundreds of Scottish police retire early
On the go: Incentives introduced as part of the McCloud remedy have led to hundreds of Scottish police officers — many in senior positions — choose to retire early, leading to fears that the force is not sufficiently manned to tackle serious crime.
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NewsOmbudsman orders employer to rectify incorrect contributions
On the go: The Pensions Ombudsman has ordered an employer to pay contributions into an employee’s Nest pension, more than three years after deductions had been made from his pay.
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NewsLGPS board presses new ministers on TCFD timetable
On the go: The Scheme Advisory Board of the Local Government Pension Scheme has written to two newly appointed government ministers urging them to commit to a timetable for scheme reform, as fears mount that important consultations could be delayed.
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NewsFCA proposes long-term asset fund and illiquid investment reforms
The Financial Conduct Authority is set to broaden the distribution of long-term asset funds within the pensions sector to self-select options and will push ahead with plans to lift the 35 per cent illiquid investment cap.
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NewsLGPS funds back LGA opposition to 90-day dashboard window
Local government pension scheme funds have told Pensions Expert that they support the Local Government Association’s warning to the government over its plans to give schemes just 90 days’ notice before the dashboards go live.
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NewsDLUHC rules out requirement for LGPS to provide life assurance AVCs
The Department for Levelling Up, Housing and Communities has confirmed there is no regulatory requirement to provide life assurance additional voluntary contributions under the 2013 regulations governing the Local Government Pension Scheme, but said it will consider amending the rules to clarify matters.
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News‘Fundamental duties’ overlooked as claimant misses 12 years of benefits
The Pensions Ombudsman has partially upheld a complaint against the trustee of the Midcounties Co-operative Pension Scheme, criticising the scheme's record keeping, but fell short of awarding the applicant the 12 years’ worth of entitlements he sought.
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NewsCollective defined contribution schemes launch in Great Britain
On the go: Providers in Great Britain are now able to apply to launch collective defined contribution schemes, a development hailed by pensions minister Guy Opperman for its potential to “transform the UK pensions landscape”.