All Law & regulation articles – Page 99
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Auto-enrolment process creates 'employee underclass'
Three out of four pensions professionals say employers should be free to statutorily enrol any employee they wish, even if current auto-enrolment age and earnings criteria are not met.
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New criminal sanctions not meant to disrupt businesses, Govt claims
The government has guaranteed that new criminal sanctions introduced in the pensions schemes bill are not intended to disrupt legitimate corporate activity, but has refused to revise “widely” worded powers to go after those linked to defined benefit schemes.
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Regulator’s ESG letter ‘as vague as trustees’ statements’
The Pensions Regulator’s response to schemes not publishing newly required statements of investment principles has been lambasted by the non-profit that first uncovered the extent of non-compliance.
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Schemes unable to handle member information requests
On the go: Testing of pension schemes and providers' ability to meet savers' requests for information about their benefits has uncovered a litany of failings.
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Women unfairly targeted by pension anomaly
On the go: Women are being unreasonably affected by the net pay anomaly, according to government data, as pressure mounts on politicians to act.
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IFS calls for end to ‘ludicrous’ pension taxes
On the go: The Institute for Fiscal Studies has called on the government to put a stop to the “ludicrously generous” tax treatment of inherited pensions, rather than tinkering with pensions tax relief in next month’s Budget.
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DWP: Government will not dictate schemes’ ESG investments
The government insists it is not intervening in pension scheme investment strategies with a climate change amendment to the pension schemes bill introduced earlier this month.
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Prospect joins calls for public pensions benefits top-ups
On the go: Prospect is the latest union to join calls urging the government to deliver on promised benefit top-ups to public-sector schemes, which were paused due to a discrimination court case.
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IR35 could be employment minefield
Analysis: Many employers are ill-prepared for the pensions fallout of a complex new tax fairness rule that comes into force in just six weeks’ time, experts have warned.
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HMRC GMP equalisation guidance fails to address all tax issues
On the go: Long-awaited guidance on tax issues arising from the equalisation of guaranteed minimum pensions has failed to address key technical and tax issues, according to experts.
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TPR: Hundreds of employers targeted over dividend payments
On the go: The Pensions Regulator has written to “hundreds” of defined benefit trustees over disproportionately large dividend payments made by their sponsoring employers, as the watchdog said its interventions are starting to yield results.
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Contractor takes local authority to court over LGPS exit payment
A Manchester-based waste management company has brought a claim to the High Court against Tameside Metropolitan Borough Council over an alleged £13m exit credit due from the Local Government Pension Scheme.
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TPR ordered to set out climate change strategy
On the go: The government is expecting the Pensions Regulator to publish a strategy for dealing with the financial risks arising from climate change, among other requirements to integrate the Green Finance Strategy into its activities.
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Tax relief cut could lead to higher DB contributions
On the go: Employers and staff might have to increase their contributions to defined benefit schemes if a rumoured cut to the 40 per cent relief for higher-rate taxpayers goes ahead, Aegon has warned.
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Increased trustee workload to unleash wave of DC consolidation
On the go: One in three trust-based defined contribution arrangements expects to transfer members into a master trust over the next five years, with stakeholders citing the drain on time and resources of running an own-trust solution.
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Pension schemes to share scams intelligence online
The Pension Scams Industry Group is working with anti-fraud organisation Cifas to launch a network of open-source information on suspicious companies and pension arrangements, which specialists say could be an important step in bringing scams under control.
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Labour MP calls for early access to public sector pensions
On the go: Labour MP Emily Thornberry has called for public sector workers to have access to their pension pots before they retire, claiming it would help boost the economy.
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PMI launches accreditation course for professional trustees
On the go: The Pensions Management Institute has launched its course for professional trustees seeking accreditation, after an apparent split with the Association of Professional Pension Trustees.
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Unions challenge govt delay to public scheme valuations
Two trade unions are seeking permission to launch a judicial review of the government’s decision to delay benefit top-ups due to members under the cost floor arrangement in public sector pension schemes.
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Pension industry welcomes Opperman reappointment
On the go: Experts across the industry have expressed their relief at Guy Opperman being reappointed as pensions minister, saying it brings continuity and reassurance that positive reforms will be made over the coming year.