All Law & regulation articles – Page 35
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NewsSmall pots member exchange trial scuppered by NMPA
A trial being developed by three master trusts to exchange small pots has ground to a halt before it even started, due to the new normal minimum pension age rules, and will only be able to advance if new legislation is introduced.
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NewsOpperman supports public sector DB reform
On the go: Pensions minister Guy Opperman has warned that public sector defined benefit schemes should be reformed, branding the system unsustainable.
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NewsTPR’s new DB funding code expected in September 2023
The Pensions Regulator expects its much-anticipated new defined benefit funding code to be in place and operational by September 2023, according to its latest corporate plan.
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NewsTPR to review initial TCFD reports
On the go: The Pensions Regulator will review schemes’ published Task Force on Climate-related Financial Disclosures reports in the coming months, it has disclosed.
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NewsStaffordshire Fire and Rescue Service pauses McCloud payments
The Staffordshire Fire and Rescue Service has stopped making payments to members of the Firefighters’ Pension Scheme affected by the McCloud ruling after pressure from the government.
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NewsICO in talks with TPR over member communications
On the go: The Information Commissioner’s Office is engaging with the Pensions Regulator to clarify the current rules involving member communications, as schemes and providers believe existing legislation prevents them from reaching out to these individuals.
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NewsTPR sets lower competency bar for new CDC trustees
The Pensions Regulator has distinguished between its expectations on trustee competence for new and experienced trustees, as part of amendments to its new code for collective defined contribution schemes.
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NewsDWP tenders for midlife MOT pilot providers
On the go: The Department for Work and Pensions has launched a tender for suppliers to help deliver midlife MOTs as part of the programme’s pilot stage.
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NewsTPR chief backs using tax returns to bring self-employed into pensions
The Pensions Regulator’s chief executive, Charles Counsell, has backed using self-assessment tax returns to encourage more self-employed to save into pensions, in a bid to tackle huge levels of pensions under-saving in the cohort.
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NewsWomen need to work an extra 18 years to match male pension pots
Women are reaching retirement age with the biggest pension savings gap on record, according to new research.
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NewsFCA and TPR rule out new pension saving regulations
The Financial Conduct Authority and the Pensions Regulator do not plan on introducing any new regulations to help people when saving into a pension.
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NewsState pension errors continue despite correction exercise
On the go: The Department for Work and Pensions has been accused of continuing to “wrongly” tell women they have no pension entitlement when, in some cases, they were due thousands each year.
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NewsBMA hits out at Capita’s three-year NHS contract extension
On the go: The British Medical Association has hit out at the decision to give Capita a three-year extension to its contract to run Primary Care Support England.
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NewsFirefighters go to court over ‘letter aimed at blocking pensions’
The Fire Brigades Union is preparing legal action after it received a letter intended for chief fire officers, which it described as an attempt “to block firefighters receiving the pensions they are legally entitled to”.
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NewsGovt redefines fiduciary management in CMA probe reply
The government has excluded transition management from the scope of fiduciary management in its response to the Competition and Markets Authority’s 2018 investigation of the sector.
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NewsWork and Pensions Committee chair Timms receives knighthood
On the go: Work and Pensions Committee chair Stephen Timms has received a knighthood in the Queen’s birthday honours.
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News‘Broad dissatisfaction’ felt over govt’s pensions policy
On the go: Dissatisfaction has mounted over the government’s handling of pensions policy during the past year.
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NewsPublic sector pension liabilities break £2tn with 16% surge
On the go: Changes to mortality assumptions have played their part in pushing the net public sector pension liability up by 15.6 per cent between the 2018-19 and 2019-20 periods, reaching almost £2.2tn.
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NewsProviders urge earlier introduction of Pension Wise ‘nudge’
On the go: The Financial Conduct Authority’s new rules guiding customers to use Pension Wise before drawing down their pension, which came into force on June 1, have been criticised as “poorly timed and mismanaged” by one provider.
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NewsTPR to review Stewardship Code with watchdogs and government
The Pensions Regulator will work with the government and fellow watchdogs to review the Financial Reporting Council’s revised UK Stewardship Code.