All Law & regulation articles – Page 89
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Pension funds’ recovery in question as Norton enters administration
On the go: Norton Motorcycles has gone into administration, raising questions about recouping money in three pension funds solely invested in the motorcycle manufacturer.
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Criminal sanctions could deter businesses and trustees, Lords warn
The government has been urged to review the scope of new criminal sanctions introduced by the pension schemes bill that have “been drawn incredibly widely” and could “deter respectable people from becoming trustees”.
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MP requests 6-month extension for British Steel ombudsman claims
On the go: Labour MP Nick Smith is writing to the Pensions Ombudsman to request a six-month extension for former British Steel Pension Scheme members to submit claims, so that the issues involved can be considered in-depth.
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Climate disclosure guidance for schemes expected in March
On the go: The Department for Work and Pensions is set to issue guidance in March to trustees on reporting the impact of their investments on climate change, pensions and financial inclusion minister Guy Opperman has confirmed.
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NewsBritvic request to switch RPI pension increases denied
Soft drinks manufacturer Britvic has had its attempt to reduce the inflation-proofing it provides for its defined benefit pension scheme rejected by the High Court.
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BT appeal on guaranteed minimum pensions indexation dismissed
On the go: BT will have to extend the full indexation of guaranteed minimum pensions to certain members of its pension scheme affected by a government decision, after having its appeal dismissed.
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TPR fines FCA for pension failures
On the go: The Financial Conduct Authority has been ordered to pay a £2,000 fine by the Pensions Regulator for lack of details in its defined contribution scheme documentation.
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NewsGovt to consult on McCloud solution as new members could be worse off
The government has warned that changes ordered by the courts to rectify a landmark discrimination case could make some members worse off.
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Pensions Ombudsman to hold hearing against failed trustee
On the go: The Pensions Ombudsman will hold an oral hearing against the trustee and administrator of three pension schemes solely invested in a motorcycle manufacturer, as it has received 30 complaints against these individuals.
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Four candidates named for Work and Pensions select committee chair
On the go: Debbie Abrahams, Chris Bryant, Stephen Timms and Karen Buck are the Labour MPs that so far have been nominated for the election of the next Work and Pensions select committee chair.
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Opperman warns providers on dashboard preparations
On the go: Pensions minister Guy Opperman has urged providers to start preparing their data now for the anticipated arrival of pensions dashboards.
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Lords bill on TPR dividend approval and scrapping PPF cap resurfaces
On the go: A bill that would give the Pensions Regulator approval over company dividends payments and remove the cap on compensation payments made by the Pension Protection Fund has returned to the House of Lords.
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State pension age campaigners granted leave to appeal judicial review
On the go: The BackTo60 group has been granted leave to appeal a High Court decision, and will be taking its fight against state pension age rises for 1950s-born women to the court of appeal.
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Contractors take advantage of LGPS loophole on exit payments
The pensions industry is still waiting for the government to close a loophole allowing outsourcers to claw back surplus from the Local Government Pension Scheme even when they have not paid into the plan.
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Pensions experts predict RPI limbo for years to come
Experts have condemned delays in publishing a long-awaited consultation on reforms to the retail price index, since its outcome could radically alter the fortunes of pension funds and pensioners.
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FCA launches pensions advice market review
On the go: The Financial Conduct Authority is set to embark on a fresh crackdown on financial advisers, where it will analyse whether savers are receiving unsuitable pensions advice.
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Pension schemes bill to cost industry £818m in first year
The pensions industry faces an annual cost increase of £818m as a result of changes brought in by the pension schemes bill, with the new defined benefit funding regime and the pensions dashboard requiring the lion’s share of this investment.
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Train operators' legal battle with government kicks off
On the go: Train operators will argue that the government has unfairly excluded them from rail contracts over its stance on pensions, in a High Court case that begins on Monday.
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Investigation into state pension age complaints resumes
On the go: The Parliamentary and Health Service Ombudsman has resumed its investigation into complaints about the state pension age rise for women, following the outcome of a judicial review last year.
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Renewed calls for govt to set up pensions commission
On the go: Two think tanks are calling for the government to set up a new pensions commission, after it found cross-party support for such an initiative.