All Law & regulation articles – Page 50
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NewsHigh Court resolves Merchant Navy ill-health pensions conundrum
The High Court has approved a settlement over ill-health benefits in the Merchant Navy Ratings Pension Fund, which will see members compensated via lump sum arrears and increased pensions to those who had not been treated in accordance with scheme rules.
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PodcastsPodcast: Universal charges could harm master trust competition
Podcast: The intent behind universal charges on default funds is sound, but the method — such as the introduction of flat fees — risks harming the master trust sector and restricting access to pensions, according to The People’s Pension’s director of policy Phil Brown. He his joined by his colleague, head of pensions policy Tim Gosling, to discuss charge structures, decumulation solutions, and baffling pensions jargon.
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NewsEarnings trigger remains unaltered in auto-enrolment expansion bill
A bill to expand automatic enrolment, to be debated in parliament on February 25, will not look to remove the £10,000 earnings trigger contrary to initial expectations.
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NewsGovt could tweak transfer amber flag rules for overseas investments
On the go: The Department for Work and Pensions may amend defined benefit transfer scam rules so that low-risk overseas investments are no longer flagged.
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NewsGovt called to include paid-for advertising in online safety bill
On the go: Consumer group Which? is calling on the government to include paid-for advertising in the online safety bill, in a response to the boom in online scams.
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NewsTPR publishes example to help trustees with new ESG duties
On the go: The Pensions Regulator has published an illustrative example to help trustees and advisers comply with their environmental, social and governance duties, as it revealed it will start contacting schemes that are now in the scope of the new regulations.
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NewsUSS deal pushed through as unions threaten more strikes
Employers have agreed a deal with the trustee of the Universities Superannuation Scheme that will stave off “ruinous” contribution rate hikes resulting from its controversial 2020 valuation, but unions are threatening further industrial action over what they say amounts to a 35 per cent cut to member benefits.
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NewsMPs back amendment against political divestments by LGPS
MPs in the House of Commons have approved an amendment that would allow ministers to issue guidance stymieing the ability of public sector pension schemes, including the Local Government Pension Scheme, to pursue politically motivated boycotts and divestment policies.
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NewsGovt called to improve pensions advice and guidance gap
On the go: A think tank has called on the government and regulators to improve the nation’s pensions knowledge, after a study highlighted the significant gap in the take-up of guidance and advice.
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NewsMPs told AE contribution rates need to rise to 12%
On the go: Auto-enrolment contributions need to rise to 12 per cent of earnings from the current 8 per cent, but this change should not be rushed through, MPs have been told.
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NewsPrivate schools offer olive branch over teachers’ pension strikes
The Girl’s Day School Trust has made a new offer to teachers striking over plans to withdraw from the Teachers’ Pension Scheme, but unions have branded the proposal “very disappointing”.
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NewsBuck launches ‘gap analysis’ governance solution
On the go: Buck has launched a new “gap analysis” governance tool designed to help schemes navigate the Pensions Regulator’s forthcoming combined code of practice.
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NewsUniversities reject union’s USS valuation solution
Employers have rejected proposals from the University and College Union to end the impasse over the Universities Superannuation Scheme’s 2020 valuation, while yet more institutions have seen staff walk out on strike.
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NewsMP proposes to limit LGPS Israeli boycotts association in new bill
An amendment to the upcoming pensions bill tabled by Conservative MP Robert Jenrick, which is aimed at limiting the Local Government Pension Scheme funds’ association with Israeli boycotts, is not expected to be backed by parliament.
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NewsGovt confirms GMP revaluation rate after receiving only two responses
On the go: The Department for Work and Pensions will be lowering the guaranteed minimum pension fixed rate revaluation for early leavers by 0.25 percentage points, after its consultation into the matter attracted just two responses.
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NewsNorfolk Pension Fund takes Apple to court over losses
A court in California has granted Norfolk County Council’s petition, on behalf of the Norfolk Pension Fund, to be named lead representative in a class action lawsuit against Apple over alleged securities fraud.
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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.