All Law & regulation articles – Page 42
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NewsTimms probes Treasury on tax charges to pension scam victims
On the go: Work and Pensions Committee chair Stephen Timms has written to HM Treasury asking for “clarity” on the tax treatment of pension liberation victims.
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NewsUCU calls for staff welfare inquiry as two-thirds consider quitting
On the go: Two-thirds of university staff could quit the higher education sector altogether over mounting dissatisfaction with pay, pensions and working conditions, the University and College Union has warned, as it calls for the Education Select Committee to set up an inquiry into staff welfare.
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NewsRegulator’s CDC plans risk strangling the sector at its birth
The Pensions Regulator’s draft code of practice for collective defined contribution schemes is unnecessarily strict and risks severely hampering growth in the sector, industry bodies have warned.
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NewsWhat the Spring Statement means for pensions
The biggest rabbit to emerge from chancellor Rishi Sunak’s hat at this year’s Spring Statement was arguably his commitment to lowering the basic income tax rate from 20 per cent to 19 per cent from April 2024.
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NewsGovt to consult on McCloud tax legislation this summer
On the go: The government has committed to provide tax-free compensation to members who choose reformed scheme as opposed to legacy scheme benefits under the McCloud remedy, and will consult on the necessary legislation in the summer.
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NewsIndustry split on auto-enrolment reform timetable
On the go: Experts are split on whether increasing auto-enrolment contributions to 12 per cent can be achieved by the end of the decade.
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NewsGovt allocates £425mn for teachers’ remedy back payments
On the go: The government has allocated £425mn for back payments to members of the Teachers’ Pension Scheme, and others within scope of the Goodwin ruling from 2020.
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NewsUK to raise £10bn from green gilt sales
On the go: The Debt Management Office will sell £10bn in green gilts as part of £124.7bn in overall gilt sales in the 2022-23 period.
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NewsPension receipts to reach £1.7bn amid rise in cost of living
On the go: The Office for Budget Responsibility has revised its forecast of tax paid when people access their pension funds, expecting it to reach £1.7bn in 2021-22.
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NewsGovt pledges to honour triple lock for rest of this parliament
On the go: The state pension triple lock will be honoured for the remainder of this parliament, Thérèse Coffey has said.
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NewsMNRPF chair admits uncertainty over P&O Ferries’ obligations
On the go: The Merchant Navy Ratings Pension Fund chair of trustees John Oldland has left open the possibility that P&O Ferries may not meet its pension obligations after a controversial dismissal process.
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NewsActuaries call on govt to improve guidance and advice take-up
On the go: The Institute and Faculty of Actuaries is calling on the government and the pensions industry to improve guidance and financial advice take-up.
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NewsPlumbing Pensions to use member funds to fight section 75 claims
The Court of Session in Edinburgh has granted Plumbing Pensions permission to use member funds to defend against legal claims from employers over its pursuit of section 75 liabilities.
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NewsPension schemes to tackle deforestation in climate push
Pension schemes in the UK will be expected to do more to tackle deforestation as part of the government’s climate policies, pensions minister Guy Opperman has warned.
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NewsMPs to quiz FCA chief over BSPS scandal
On the go: The chief executive of the Financial Conduct Authority will be questioned by MPs as part of an inquiry into the British Steel Pension Scheme saga.
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News‘Build back better’ hits wall as trustees report trouble aligning
On the go: Trustees and investment managers are struggling to bring their investment strategies into line with the government’s ‘build back better’ initiative, citing a lack of opportunities and long-term planning.
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NewsAnother wave of strikes begins as USS valuation row escalates
On the go: Staff at 40 universities have begun the next round of industrial action over the controversial conclusion of the Universities Superannuation Scheme’s 2020 consultation.
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News‘Quirk’ sees public sector pay freeze hit teachers’ pensions annual hikes
A ‘quirk’ in the way teachers’ pensions are calculated could mean some teachers stand to suffer an extra loss as a result of the public sector pay freeze, as pension calculations normally triggered by a change in earnings have not occurred.
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NewsPublic sector scheme members get retirement calculator
On the go: The Government Actuary’s Department has released an online tool designed to help public sector scheme members better understand their options for benefits and retirement.
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NewsOmbudsman orders NHS members payouts after admin errors
The Pensions Ombudsman partly upheld two complaints against NHS scheme administrators in February and March after years of benefit miscalculations and misinformation about additional contributions, ordering payouts for two members.