All Law & regulation articles – Page 53
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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 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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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.