All Law & regulation articles – Page 46
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NewsRoyal Mail moves ahead with CDC scheme after consultation
On the go: Royal Mail, the Communication Workers Union and Unite have agreed to progress plans to introduce a new collective defined contribution scheme, the first of its type in the country, following a consultation with members.
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NewsHigh Court confirms Irish pension exclusion from bankruptcy case
On the go: Former property developer Michael McNamara has been allowed to shield his savings in an Irish pension scheme from creditors after the High Court confirmed its own 2020 ruling.
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NewsGovt dismisses USS guarantee as employers discuss new proposals
The Department for Education has dismissed the significance of a guarantee of Universities Superannuation Scheme benefits that early reports suggested could constitute a full government underwrite of the scheme, while employers have announced a short consultation on union proposals to resolve the 2020 valuation dispute.
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NewsPension chiefs encourage company stakeholder engagement
On the go: A group of pension executives has challenged companies to engage with their stakeholders and intensify their efforts to reach net zero emissions.
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NewsPension rules extended to October for returning NHS staff
On the go: The government has extended its relaxation of pension rules by seven months for NHS staff returning to work so they are not hit by reduced pension payments.
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NewsInconsistent retirement estimates could undermine dashboards
Consumer confidence in the pensions dashboards could be undermined unless the methodology for calculating estimated retirement income is standardised and aligned with statutory money purchase illustrations, the Financial Reporting Council has said.
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NewsBuck completes first ‘standalone’ GMP equalisation project
On the go: Buck claims it has completed the industry’s first ‘standalone’ guaranteed minimum pension equalisation project.
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NewsWeir scheme and Capita to pay member after GMP blunder
The Weir Group Pension and Retirement Scheme, along with its former administrator Capita, have been ordered by the Pensions Ombudsman to pay a member £2,000 over the poor handling of his transfer value information.
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NewsJohnson ignores tax proposal on scam victims
Prime Minister Boris Johnson has failed to acknowledge three letters from a prominent campaigner on pension scams, which propose changes to tax rules over early pension access in a bid to protect scam victims.
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NewsCalls to raise the contribution limit for non-earners
On the go: The pension contribution limit for non-earners should be significantly increased to help tackle the pension savings gap, Aegon has said.
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NewsRegulators should look at the role of introducers in British Steel scandal
On the go: Regulators have been urged to look again at the role of introducers in the British Steel Pension Scheme transfers scandal that has seen more than £20mn paid out in compensation.
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NewsLecturers strike again over USS benefit cuts
On the go: Staff at 44 institutions are to walk out once again over planned benefit cuts to the Universities Superannuation Scheme.
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NewsFCA says dashboards will increase advice ‘value for money’
On the go: The Financial Conduct Authority has said the pensions dashboards will increase competition in the advice profession and offer consumers better value for money.
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NewsL&G ‘well advanced’ with commercial dashboard development
Legal & General is “well advanced” with the development of a commercial dashboard, building on the work done in the alpha and beta stages of the Pensions Dashboards Programme.
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NewsEmployers and union at loggerheads as USS deadline looms
Employer representatives have again criticised the University and College Union as the deadline for avoiding “unaffordable” contribution rate hikes in the Universities Superannuation Scheme approaches.
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NewsOpperman fires back over universal DC charging structure
Pensions minister Guy Opperman stood his ground over the government’s expected move to introduce a single flat charge for defined contribution workplace pensions, after master trust providers criticised the proposal earlier in the week.
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NewsPodcast: Government must set a timeline for auto-enrolment expansion
Podcast: Auto-enrolment could bring significant benefits to the young, the low-paid and women, and the government must commit to a date to expanding coverage, according to Now Pensions’ head of PR and campaigns, Samantha Gould. She is joined by Linklaters pensions partner John Sheppard to discuss AE, pensions dashboards, and illiquid investments by defined contribution schemes.
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NewsThe People’s Pension slams single flat charge proposal
Savers could lose thousands of pounds from their pension pots if the government proceeds with its expected plan to introduce a single flat charge for workplace pensions, according to one master trust.
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NewsMadeline Forrester appointed PPI chair of council
On the go: The Pensions Policy Institute has appointed Madeline Forrester as its new chair of council.
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NewsCall for evidence on state pension age changes as costs mount
On the go: The independent review of the state pension age has published a call for evidence seeking views on the fairness, sustainability and affordability of the system.