All Law & regulation articles – Page 36
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NewsPPI: CDC schemes still facing ‘key challenges’
On the go: Collective defined contribution schemes in the UK are still facing some key challenges that could benefit from further research, such as intergenerational issues and communication policies, according to the Pensions Policy Institute.
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NewsUnion takes Bolt to court over pension rights
GMB union is taking ride-hailing service Bolt to court in a bid to grant its drivers employment rights including pensions, while Uber has promised a Sharia-compliant pension fund for its drivers by October.
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NewsTPR publishes new scams guide in appeal for industry support
On the go: The Pensions Regulator has appealed for support from industry to protect savers from scammers, and has issued guidance for trustees on how to report pension scams.
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NewsLGPS board chair’s TCFD appeal to minister runs aground
The chair of the Local Government Pension Scheme Advisory Board believes that the government missed the opportunity to introduce new climate-related reporting rules for local authority schemes with COP26, after a request sent to the minister of state for Levelling Up Communities mysteriously failed to reach its intended recipient.
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NewsRise in ‘bogus self-employment’ will lead to old age poverty
On the go: A rise in “bogus self-employment” means many individuals are missing out on employment benefits such as a pension, according to Jack Jones, policy and campaigns support officer at the Trades Union Congress.
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NewsLocal government McCloud rules expected in October 2023
On the go: Legislation aimed at removing the age discrimination that formed the basis for the McCloud ruling is expected for the Local Government Pension Scheme in October 2023, the Local Government Association has said.
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NewsDWP questions industry on Nest’s fund offering
The Department for Work and Pensions is gathering views on support available to scheme members when making savings decisions, and is questioning the industry on whether Nest’s current offering is sufficient.
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NewsEmployers failing to grasp LGPS costs and ‘responsibilities’
Many employers do not understand the value or costs associated with being part of the Local Government Pension Scheme, according to the assistant director of the £28.2bn Greater Manchester Pension Fund.
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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.