All Law & regulation articles – Page 59
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NewsPLSA calls for ‘major review’ of Fraud Compensation Fund
On the go: The Pensions and Lifetime Savings Association has called for a “major review” of the Fraud Compensation Fund, branding the current arrangement “not fit for purpose”.
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NewsGovt consults on NHS scheme McCloud remedy
On the go: The Department of Health and Social Care has published a consultation into changes to be made to the NHS Pension Schemes to accommodate the McCloud remedy.
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NewsAgeing a bigger problem for pensions than Covid-19
The impacts of the Covid-19 pandemic on pensions could be relatively short-lived should the global economy continue to recover, but an ageing population presents long-term challenges with no simple solutions, according to a new report from the OECD.
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NewsTPR opens investigations into 9 DB schemes over funding concerns
On the go: The Pensions Regulator has opened investigations into nine defined benefit schemes, following an engagement exercise designed to assess the risk to savers posed by employer covenants impacted by Covid-19.
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NewsDC schemes could allocate almost half of assets to illiquids
On the go: Defined contribution schemes could allocate up to 40 per cent of assets to illiquids for younger members to help improve their outcomes, according to new research from Hymans Robertson.
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NewsPASA launches dashboards data-matching guidance
On the go: The Pensions Administration and Standards Association has published guidance detailing how schemes must compare ‘find requests’ from pensions dashboard users against member records, with data quality determining the choice of approach taken.
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NewsFifth of businesses are interested in CDC schemes
On the go: More than a fifth of businesses are interested in setting up a collective defined contribution scheme for their employees, according to new research from the Association of Consulting Actuaries.
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NewsCompany fined £140k for thousands of pension cold calls
On the go: A London-based company has been told to pay a £140,000 penalty by the Information Commissioner’s Office after making more than 107,000 marketing calls to people about their pensions.
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NewsEstate agents sue Purplebricks over pay and pensions
On the go: Campaign group Contractors for Justice is to take legal action against online estate agent Purplebricks in a move reminiscent of gig workers’ bid to win holiday pay and pension rights.
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NewsPPF updates guidance in light of Bauer, Hampshire judgements
On the go: The Pension Protection Fund has issued updated guidance accounting for the judgements in the Hampshire and Bauer cases and the disapplication of the PPF compensation cap, confirming that no further allowance needs to be made for their impacts.
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NewsGovt to consult again on McCloud implementation in 2022
The Cabinet Office, Home Office, Department for Education and Ministry of Defence have each opened consultations into the first phase of the McCloud remedy, covering regulations that will see all legacy schemes close to future accrual from March 2022. However, new consultations on phase two of the remedy will be launched next year.
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NewsCouncil to compensate member after persistently giving incorrect info
South Tyneside Council has been ordered to pay £2,000 in total by the Pensions Ombudsman to a former employee after it incorrectly told him he could defer claiming his pension benefits until age 75.
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NewsProviders to book pensions guidance sessions from June
On the go: Savers will be offered Pension Wise appointments if they want to access their defined contribution pensions from June 2022.
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NewsClara Pensions to begin accepting transfers after TPR clearance
The Pensions Regulator has cleared consolidator Clara Pensions to begin accepting transfers, opening up a new endgame option for defined benefit schemes.
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NewsUnion slammed as ‘at odds with reality’ as USS strike action begins
On the go: Employers have once again hit out at the University and College Union over strike action set to commence on Wednesday.
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NewsShadow pensions secretary appointed in reshuffle
On the go: Jonathan Ashworth, Labour MP for Leicester South, has landed the role of shadow work and pensions secretary, as part of a reshuffle of the shadow cabinet.
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NewsGovt to remove performance fees from DC charge cap
The Department for Work and Pensions has launched a consultation that will seek out policy proposals to exclude investment performance fees from the defined contribution charge cap.
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NewsAmbassador to pay £80,000 for withholding pension information
On the go: An ambassador has been ordered to pay more than £80,000 after being found guilty of withholding information from the Pensions Regulator.
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NewsHow will the new pension transfer restrictions work?
The new pension transfer rules coming into force on November 30 will bring added duties for pension scheme trustees, and will not be a panacea to prevent scams, specialists warn.
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NewsStatement season could put 10.6m pension savers at risk
On the go: Some 10.6m pension savers could see their financial information fall into the hands of fraudsters if the government goes ahead with its plans for a statements season, PensionBee has warned.