All Law & regulation articles – Page 46
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NewsTPR in-person visits return after lifting of Covid-19 rules
On the go: The Pensions Regulator has said it is carrying out in-person spot checks on employers in a compliance push that has been enabled by the relaxation of coronavirus restrictions earlier this year.
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NewsElectricity pensioners launch campaign amid inflation fears
The Association of Electricity Supply Pensioners has launched a campaign to protect the benefits of more than 100,000 members of the Electricity Supply Pension Scheme, amid fears that pension increases that do not match inflation could amount to significant losses.
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PodcastsPodcast: Uncertainty around inflation leads to ‘casino pensions’
Podcast: High levels of volatility around inflation will force trustees to “take a bet” on the future, as it is very difficult — absent a crystal ball — to predict inflationary pressure and its impact on scheme liabilities, says Pension Playpen chief executive Steve Goddard. He is joined by Cardano managing director Emily Goodridge to discuss inflation, technology in pensions, and the future of environmental, social and governance disclosure.
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NewsTPR aims for transparency in consolidated enforcement powers
The Pensions Regulator has launched a consultation into a new draft enforcement policy document that aims to consolidate existing enforcement policies governing defined benefit, hybrid, public sector and defined contribution pension schemes.
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NewsTPR has used AE powers more than 500,000 times since 2012
On the go: The Pensions Regulator has used its enforced powers on automatic enrolment compliance on more than 500,000 occasions since July 2012, it has revealed.
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NewsStandard Life’s sustainable switch and a new LGPS active fund
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including a new sustainable multi-asset profile from Standard Life, a £1bn sustainable global equities fund from LGPS Central, and an anti-scams pledge from the Universities Superannuation Scheme.
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NewsHSBC pensions ‘clawback’ resolution defeated at AGM
On the go: A resolution against so-called pensions “clawback” at HSBC was defeated at the bank’s annual meeting, with 94 per cent of votes cast against abolishing the practice.
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NewsHMRC discretion on scam victims’ tax bills not justifiable, says minister
John Glen, economic secretary to the Treasury, has argued there is “no justifiable basis” for HM Revenue & Customs to use its discretion when assessing the tax treatment of pension liberation victims.
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OpinionNew DB funding code should focus on transparency
Buck’s Sarah Brown and Andrew Horner argue there should be a transparent relationship between covenant, funding and investment strategy ahead of the Pensions Regulator’s second consultation on its new code of practice on defined benefit scheme funding.
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NewsSome DB schemes will be subject to ‘stronger nudge’ requirements
On the go: Some defined benefit schemes will have to comply with the Department for Work and Pensions’ new “stronger nudge” requirements, due to come into force on June 1, dispelling suggestions that only defined contribution schemes would be affected.
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NewsTPR: Smaller scheme trustees can do more
Some trustees at smaller pension schemes need to raise their game in areas like governance, David Fairs, the Pensions Regulator’s executive director of regulatory policy, has said.
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NewsTimms backs members amid ‘slow’ Norton resolution
Stephen Timms, chair of the Work and Pensions Committee, has written to the Pensions Regulator to describe the “frustratingly slow” process facing members of the schemes of which funds were invested in Norton Motorcycles, as well as complaints about communications from the trustee, Dalriada.
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NewsGovt rejects call for automatic Pension Wise appointments
The government has ruled out automatically enrolling pension savers into guidance appointments with Pension Wise before they can access their retirement pot.
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NewsGMP conversion bill receives royal assent
On the go: A private members’ bill aimed at clarifying and streamlining the process of guaranteed minimum pensions conversion has received royal assent.
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NewsGovt plans looser insurer infrastructure investment regime
On the go: The government has published a new consultation on Solvency II, with the aim of helping insurers invest in UK infrastructure and green projects.
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NewsMaster trusts call for AE rate increase with opting down option
Pension specialists are calling for the government to introduce an opting down option when setting the next auto-enrolment minimum rate increase as a way of protecting those on lower earnings.
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NewsUnite campaigners plan pensions clawback protest at HSBC AGM
Members of the Unite trade union will protest outside HSBC’s annual meeting, in the latest chapter of a long-running saga over employees’ pensions.
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NewsTPR to issue fresh dashboards guidance in May
The Pensions Regulator will publish new guidance on pensions dashboards to support trustees and scheme managers in early May, it has revealed.
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NewsTPR funding statement flags uncertainty impact for valuations
High levels of uncertainty surrounding inflation, interest rates, mortality, energy prices and economic growth will put additional pressure on trustees completing their tranche 17 valuations this year, according to the Pensions Regulator’s annual funding statement.
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NewsContribution notice of £3.6mn hints at ‘new era’ of TPR powers
Legal commentators have hailed what could be the start of a “new era” in the Pensions Regulator’s enforcement powers after its determinations panel handed down a contribution notice for more than £3mn to two individuals connected with the Meghraj Group Pensions Scheme.