All Legislation articles – Page 28
-
News
Most DB schemes do not meet regulator’s fast-track requirements
On the go: Seventy per cent of defined benefit schemes fall short of the Pensions Regulator’s ‘fast-track’ approach as proposed in its new DB funding code, according to analysis from Hymans Robertson.
-
News
Proposed RI bill would force trustees to consider members’ ‘best interests’
The leader of the Liberal Democrats supports a proposed responsible investment bill broadening the concept of fiduciary duty to encompass sustainability concerns and aim for a ‘world worth retiring into’.
-
News
Open schemes predict £160bn liability hike with new TPR rules
On the go: Open defined benefit schemes could see their liabilities increase between £120bn and £160bn due to the new funding rules proposed by the Pensions Regulator.
-
News
LGPS could face legal challenges over new exit payment cap
Local Government Pension Scheme administrators face potential legal challenges, after a new cap on exit payments from public sector schemes contradicting existing regulations came into force on Wednesday.
-
News
Stephen Timms calls for annual guidance checks
On the go: Stephen Timms, chair of the Work and Pensions Committee, has submitted an amendment to the pension schemes bill that would see savers near retirement contacted each year until a guidance appointment has been made.
-
News
SNP MPs table amendments to tackle Section 75 conundrum
On the go: Four Scottish National party MPs have tabled an amendment to the pension schemes bill in a bid to solve the problem of Section 75 debt falling due on small, unincorporated employers.
-
News
Fraudster forced to repay £274k to workplace scheme
On the go: A convicted fraudster has been ordered to pay back £274,000 he had stolen from a workplace pension scheme.
-
News
Calls for retirement estimates to be dropped from first dashboards
Pension schemes and administrators have requested that the first version of the pensions dashboards run without the inclusion of estimated retirement income data, due to the lack of data and standards for these calculations.
-
News
Govt to tighten guidance rules for accessing pensions
On the go: The Department for Work and Pensions plans to require providers of workplace pensions to signpost guidance whenever savers look to access or transfer their pots.
-
News
SNP revives pensions commission in bill amendment
On the go: Two Scottish National party MPs have tabled an amendment to the pension schemes bill to set up a new pensions advisory commission.
-
News
Larger DB schemes face £100bn bill due to new regulations
The impact of new regulations in the pension schemes bill and the future defined benefit funding code will mean that sponsors of the UK’s largest schemes will have to fork out £100bn over the next 10 years, according to new analysis from LCP.
-
PodcastsPodcast: The three-step plan to fix the NHS pension scheme
Podcast: The plethora of administrative maladies facing the NHS pension scheme should be addressed by a three stage approach: capping the problem; a reactive process prioritising those closest to retirement; and proactive use of the dashboard, says Peter Glancy, head of policy development at Scottish Widows. He’s joined by Helen Morrissey, corporate PR specialist, long-term savings at Royal London, in an episode also looking at the suggestion of pensions as deposits for first-time buyers.
-
News
Philip Green 'disliked the Pensions Regulator immensely'
On the go: Fallen businessman Dominic Chappell told Southwark Crown Court of Philip Green’s intense dislike of the Pensions Regulator, and promises made to plug the deficit of BHS pension schemes.
-
News
Regulator unveils superfunds guidance for trustees
The Pensions Regulator has published new guidance for defined benefit schemes transferring into a commercial consolidation 'superfund', placing the burden of proof on trustees to show that their plan is in members' best interests.
-
News
Govt u-turns on fees disclosure in simpler annual statement
The government has abandoned plans to make pension providers include costs and charges in their new simplified annual statements, which could become mandatory for defined contribution schemes in the near future as progress in this area remains slow.
-
News
Timms warns transfer rules ‘must be changed’
On the go: Stephen Timms, chair of the Work and Pensions Committee, has warned that transfer rules are not working and must be changed if the industry is to put a stop to pension scams.
-
News
McCloud remedy could take two years to implement, PLSA warns
On the go: The Pensions and Lifetime Savings Association has warned it may take more than two years for the Local Government Pension Scheme to implement the McCloud remedy, casting doubt on the government’s proposed timeframe.
-
News
Govt consultation suggests abandoning GMP conversion
The Treasury has indicated it may axe guaranteed minimum pension conversion in a new consultation, with experts citing administrative costs as a reason to ditch the idea.
-
News
Opperman tells savers to engage with pensions to fix climate
On the go: Savers can play an important role in addressing climate change by paying more attention to their pensions and where they are invested, pensions minister Guy Opperman has said.
-
News
Statutory pension transfer rights pause becomes bill amendment
A new amendment restricting the statutory right to a transfer is to be tabled to the pension schemes bill, in an attempt to combat pension scammers.