All Legislation articles – Page 9
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NewsRegulator’s CDC plans risk strangling the sector at its birth
The Pensions Regulator’s draft code of practice for collective defined contribution schemes is unnecessarily strict and risks severely hampering growth in the sector, industry bodies have warned.
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NewsGovt to consult on McCloud tax legislation this summer
On the go: The government has committed to provide tax-free compensation to members who choose reformed scheme as opposed to legacy scheme benefits under the McCloud remedy, and will consult on the necessary legislation in the summer.
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NewsGovt allocates £425mn for teachers’ remedy back payments
On the go: The government has allocated £425mn for back payments to members of the Teachers’ Pension Scheme, and others within scope of the Goodwin ruling from 2020.
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NewsPlumbing Pensions to use member funds to fight section 75 claims
The Court of Session in Edinburgh has granted Plumbing Pensions permission to use member funds to defend against legal claims from employers over its pursuit of section 75 liabilities.
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NewsPension schemes to tackle deforestation in climate push
Pension schemes in the UK will be expected to do more to tackle deforestation as part of the government’s climate policies, pensions minister Guy Opperman has warned.
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News‘Build back better’ hits wall as trustees report trouble aligning
On the go: Trustees and investment managers are struggling to bring their investment strategies into line with the government’s ‘build back better’ initiative, citing a lack of opportunities and long-term planning.
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News‘Quirk’ sees public sector pay freeze hit teachers’ pensions annual hikes
A ‘quirk’ in the way teachers’ pensions are calculated could mean some teachers stand to suffer an extra loss as a result of the public sector pay freeze, as pension calculations normally triggered by a change in earnings have not occurred.
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NewsFirefighters reach pensions agreement with government
A memorandum of understanding has been signed between the government and the Fire Brigades Union over pension rules for retained firefighters, potentially allowing thousands to claim pension entitlements dating back earlier in their careers once legislation is passed.
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NewsLGA calls for 2025 dashboards deadline amid capacity crunch fears
The Local Government Association has called for the staging date by which the Firefighters’ Pension Scheme is to join the dashboards to be set back, arguing that it is not feasible to expect the scheme to join before 2025.
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NewsGovt’s dashboard proposals cause widespread industry concerns
The Pensions and Lifetime Savings Association has recommended three thresholds that must be met before pensions dashboards are launched to the public, but there is widespread industry concern around liability for incorrect or misinterpreted information, and significant doubts whether its launch is achievable by the government’s preferred dates.
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NewsIndustry anger as new FCF levy goes ahead costing MTs £130mn
The government is to press ahead with an increase to the Fraud Compensation Fund levy, which will see master trusts brunt the majority of the costs paying an extra £130mn over the next nine years, despite their members being the least likely to benefit from it, experts have warned.
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NewsDWP called to intervene in divorced women underpaid pensions
On the go: A bill calling on the government to include divorced women in its efforts to repay those who have been underpaid the state pension has been introduced in parliament.
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NewsGovt to compensate judges for additional McCloud tax bills
The Ministry of Justice has announced it will compensate judges who incur additional tax liabilities as a result of the immediate choice they will take later this year, while other departments left their proposals largely unchanged following consultations on phase one of the McCloud remedy.
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NewsTPR not ruling out ‘value for money’ league tables
On the go: The Pensions Regulator is considering league tables as a way of implementing a new value for money framework for pension schemes, though it is not “leaning towards” them at present.
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NewsOpperman slates lack of long-term vision in pensions, hints at reshuffle
Pensions minister Guy Opperman has suggested a reshuffle may be on the cards, and has criticised a perceived lack of long-term vision in the pensions industry.
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NewsStrike suspended as schools and unions meet over teachers’ pensions
On the go: Unions have suspended plans for more strike action at 23 private schools to allow talks to take place over planned changes to teachers’ pensions.
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OpinionFixing shared parental leave policy can curve gender pensions gap
Interactive Investor’s Becky O’Connor argues that one of the main causes for the pensions gender gap is the shortcomings in policy for shared parental leave, and that policymakers have a role to play to improve women’s savings.
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NewsMcCloud legislation on track for April
On the go: Secondary legislation necessary for the implementation of the McCloud remedy is on track to be published by April 1, and another round of consultations is due before October, the government has confirmed.
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NewsDashboards’ staging deadline too ambitious for LGPS
The government’s timetable for dashboards’ integration is likely to be too ambitious for the Local Government Pension Scheme, with administering authorities bogged down by other challenges, its pensions committee has warned.
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NewsPension providers call for personalised advice rules
On the go: Pension providers have called on MPs to change advice rules to allow them to offer more personalised guidance.