All Law & regulation articles – Page 3
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NewsBell defends salary sacrifice cap and rejects incentive concerns
“The wider changes on salary sacrifice are happening because you should want a government that keeps tax reliefs under review,” pensions minister Torsten Bell said.
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NewsGovernment to limit scope of mandation clause, pensions minister says
Torsten Bell says the Pension Schemes Bill will be amended to ensure that the mandation clause only relates to the Mansion House Accord and cannot be used for other purposes.
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NewsSalary sacrifice cap to rise to £5,000 after Lords amendment
An amendment tabled by Baroness Kramer has more than doubled the government’s initial £2,000 annual cap for salary sacrifice, above which National Insurance contributions are payable.
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NewsMaster trusts should prepare now for scale requirements, TPR says
The regulator set out principles to help trustees evaluate whether their schemes are likely to meet the proposed scale thresholds and how they should evidence future growth.
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OpinionState pension age of 67 is coming – what to watch as it rolls out
Heidi Karjalainen, a senior research economist at the Institute for Fiscal Studies, explores the imminent state pension age increase as the latest review continues.
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NewsTrade groups support ‘minimum standards’ for administrators
The administration standards body supports proposals to subject providers to minimum standards across risk management, continuity planning, and other areas.
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OpinionSPP: Value for Money proposals increase risk of 'herding' among DC providers
As the latest consultation on the proposed Value for Money regime comes to a close, Owen McCrossan of the Society of Pension Professionals warns of negative consequences if there is not enough room for nuance in the system.
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OpinionTrusteeship and administration: Preparing for a consolidated future
David Fairs, a former TPR executive and now chair of the Pensions Administration Standards Association (PASA), looks into what the rapidly evolving pension landscape means for administration providers.
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OpinionThe consequences of Reeves’ salary sacrifice cap will play out for decades
Alltrust managing director James Floyd speaks out against the consequences of the government’s planned cap on salary sacrifice, following publication of the OBR’s analysis earlier this month.
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OpinionAPPT: Turning reform into better outcomes and stronger trustee governance
As the pensions industry prepares for the wide-ranging impact of the Pension Schemes Bill, Rachel Croft, chair of the Association of Professional Pension Trustees (APPT), looks at what this means for regulation and governance.
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NewsSmiths News faces TPR action over collapsed firm’s DB scheme
The media distribution company could receive a bill from the regulator related to the DB scheme of a former subsidiary, which entered administration after being sold in 2020.
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People NewsTPR seeks to fill ‘critical’ market oversight role as Lyne steps down
The Pensions Regulator has launched a search for a permanent executive director for market oversight after Julian Lyne, who held the role on an interim basis, announced he was leaving the organisation.
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OpinionPensions UK: Real-world impact of salary sacrifice cap is being underplayed
Pensions UK’s executive director of policy and advocacy Zoe Alexander issues a stark warning on the salary sacrifice cap and its impact on retirement saving, following recent analysis from the Office for Budget Responsibility.
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NewsRegulator’s CDC code welcomed, but more work needed
TPR’s consultation on a combined code of conduct for single-employer and multi-employer CDC schemes closes this week, a move that commentators said should be more manageable and straightforward than separate codes.
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NewsRegulators urged to collaborate on DC transfer rules
The FCA’s consultation on rules for DC pension transfers and digital modelling tools has triggered an industry-wide call for a cohesive approach to DC regulation.
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OpinionABI: Transitioning to a higher state pension age
Justin Wray of the Association of British Insurers explores the different ways in which the rising state pension age is affecting people approaching retirement, and how employers, pension providers, and policymakers can help.
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NewsOBR data challenges government claims on salary sacrifice cap
New data analysis shows that many people the government has claimed are “protected” from changes to salary sacrifice will still lose out when the cap is introduced in 2029, according to LCP’s Steve Webb
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NewsDWP explores ‘extended measures’ to combat pension scams
Pensions minister Torsten Bell has said the government plans to “strengthen protections and combat any areas of evolving risk”, with areas of focus expected to include transfer regulations.
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NewsPensions and IHT: Lords committee urges major changes in damning report
The House of Lords Economic Affairs Committee has called for the tax payment deadline to be doubled and criticised the government’s tax policy approach.
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OpinionPensions and financial inclusion: Time to join forces
Paul Sweeting, president of the Institute and Faculty of Actuaries, calls for joined-up thinking on financial inclusion policy – including, of course, the importance of pension saving.