All Law & regulation articles – Page 85
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Falling support for TPR’s new funding regime
On the go: Support for the Pensions Regulator’s vaunted new defined benefit funding regime may be falling, according to a report by Aon.
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Ombudsman sides with Aegon on transfer to 'bogus' pension scheme
On the go: The Pensions Ombudsman has ruled that Aegon did not fail in its duty of care when allowing a member to transfer his savings to a “bogus employer”, once again emphasising that trustees would not be held responsible for certain historic cases of fraud.
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Nest member waits two years to recover £80 in missed contributions
The Pensions Ombudsman has finally brought to a close a woman’s two year hunt for £80 in missed contributions from her employer.
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Govt extends scheme pays deadline for NHS workers
On the go: The government has extended the National Health Service scheme pays deadline by three months to stop workers being hit by unexpected tax bills as a result of the tapered annual allowance.
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Pensions Regulator names new auto-enrolment director
On the go: The Pensions Regulator has appointed Mel Charles as director of automatic enrolment, following the departure of Darren Ryder earlier this year.
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Return of the zombies: Can trustees ‘game’ PPF?
Defined benefit trustees linked to struggling employers face tough decisions about whether to tip their sponsors into insolvency or increase their burden on the Pension Protection Fund amid the onset of a global recession, in what experts have called a regulatory grey area.
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Supreme Court lifts ban on political investments by local council pensions
On the go: Local council pension schemes can now invest against the government’s foreign policy, after the Supreme Court ruled a ban on politically motivated boycotts was unlawful.
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RPI inflation court ruling could cost defence company millions
On the go: The High Court ruled against an attempt by a UK defence company to change the way it calculates final salary pension increases last week, the latest decision in a string of debates that have put millions of pounds in payments to retirees at stake.
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TPR signals renewed focus on sponsor affordability
The Pensions Regulator has directed defined benefit trustees to focus on the affordability of payments into their schemes by sponsoring employers, urging collaboration to link business recovery to increased member security.
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Pensions for cash at age 35? Covid-19 scams lure distressed savers
On the go: Anxious savers are trying to cash in their pensions more than 20 years before they are allowed to do so, as they fall victim to online scammers exploiting financial distress amid the coronavirus pandemic.
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Schemes to issue pension transfer warning to savers
On the go: Pension scheme trustees are to warn members about the risks of transferring out of their defined benefit scheme amid the Covid-19 crisis.
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Mercer calls for six-month DB contribution holiday
The government has been called on to take “urgent action” and implement a six-month contribution holiday for defined benefit pension schemes, in a bid to allow sponsors to keep their businesses afloat.
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Govt suspends tax rule for returning NHS workers
On the go: The government has temporarily suspended tax rules that could have seen returning NHS workers hit with a significant tax charge on their pensions income.
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Unions take govt to court over cost floor inaction
On the go: Trades unions representing firefighters have launched High Court legal action against the government, over delays to pension top-ups due under public sector scheme rules.
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APPT announces provisional accreditation to sidestep lockdown
On the go: The Association of Professional Pension Trustees has unveiled a new provisional accreditation scheme.
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First trustee passes professional accreditation standard
On the go: The accreditation system put in place for professional trustees has seen its first candidate pass through the process, as qualification providers eye online migration of examination processes.
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Company stung by £80,000 HMRC charge for unauthorised pension loan
A light fittings company has been hit with an £80,000 scheme sanction charge by HM Revenue & Customs for making an unauthorised loan from its pension fund to an affiliated business.
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Scottish govt bows to pressure over NHS death benefits
On the go: The Scottish government has agreed that all National Health Service staff providing frontline treatment to Covid-19 patients will receive full death benefits under the NHS pension scheme, including those returning on a temporary basis.
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Minister urges saver caution over scams
On the go: The government has cautioned against savers making hasty alterations to pensions, warning that rash decisions motivated by fears surrounding the coronavirus crisis and market crash may be exploited by scammers.
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Waspi women call for state pension access
On the go: A group of women born in the 1950s affected by an increase in the state pension age has called on the government to give early access to the state pension for those affected by the coronavirus outbreak.