More Law & Regulation
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NewsOBR data challenges government claims on salary sacrifice cap
New data analysis shows that many people the government has claimed are “protected” from changes to salary sacrifice will still lose out when the cap is introduced in 2029, according to LCP’s Steve Webb
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NewsDWP explores ‘extended measures’ to combat pension scams
Pensions minister Torsten Bell has said the government plans to “strengthen protections and combat any areas of evolving risk”, with areas of focus expected to include transfer regulations.
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NewsPensions and IHT: Lords committee urges major changes in damning report
The House of Lords Economic Affairs Committee has called for the tax payment deadline to be doubled and criticised the government’s tax policy approach.
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NewsFRC issues guide to section 37 fix for actuaries [updated]
Audit and actuarial regulator the Financial Reporting Council has issued new technical guidance to help actuaries assess schemes affected by the Virgin Media case.
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NewsHelp shape Value for Money framework, TPR tells trustees
The Pensions Regulator’s director of policy has called on trustees to engage with the ongoing Value for Money framework consultation to “help shape the standards that will define saver outcomes for years to come”.
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NewsDemand for sole trustee model will keep growing, says IGG
Efficiency, expertise and ensuring continuity are the main drivers for employers considering moving to a sole trustee arrangement, according to new research from Independent Governance Group.
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NewsPension funds express concern over scrapping of audit reform bill
Pensions UK and the Governance for Growth Investor Campaign are “disappointed” that the government has shelved plans to raise standards in the audit sector, following several high-profile cases affecting investors.
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NewsSalary sacrifice cap risks higher costs and lower pension saving, SPP warns
The Society of Pension Professionals has written to MPs to warn that restricting salary sacrifice for pension contributions is likely to increase costs for employers and employees and reduce levels of pension saving.
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NewsIndustry backs ‘nuanced’ changes to Value for Money proposals
The pensions industry has broadly welcomed the new Value for Money approach outlined in this week’s consultation set out by the Financial Conduct Authority.
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NewsFCA adds ‘dark green’ rating to VFM proposal in latest consultation
The regulator has stripped out some data points from its proposed value assessments and put forward a more nuanced four-point rating system for DC providers.
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NewsPensions UK issues ‘wake-up call’ research on salary sacrifice
The trade body has warned the government that changing the salary sacrifice rules will create confusion and lead to savers losing out when the plans come into effect in 2029.
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NewsPension Schemes Bill mandation clause challenged again by peers
Members of the House of Lords have tabled a series of amendments to the Pension Schemes Bill challenging the government’s ‘mandation’ clause, in the latest challenge to the controversial power.
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NewsSPP, Stephenson Harwood bill amendment aims to clarify Virgin Media fix
Law firm Stephenson Harwood has successfully lobbied for a change to the Pension Schemes Bill to ensure wound-up sections of DB schemes are not inadvertently hit by the effect of the Virgin Media case ruling.
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NewsFCA seeks to create UK crypto regulations to boost sector
The Financial Conduct Authority is consulting on a cryptocurrency regulatory framework in a move that it hopes will nurture a safer environment in which to invest in digital assets.
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NewsTrusteeship standards face overhaul as DWP launches consultation
The Department for Work and Pensions has launched a consultation on improving standards of trusteeship, governance and administration across trust-based pension schemes, as consolidation accelerates and trustee responsibilities continue to expand.
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NewsBusinesses brace for salary sacrifice changes as legislation laid
The government has introduced legislation to limit salary sacrifice for pension contributions to £2,000 a year – but experts warn the impact could be greater than official estimates suggest.
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NewsTargeted support measures for pension savers to launch in 2026
The Financial Conduct Authority has finalised its ‘targeted support’ regime for financial services customers, allowing pension providers and other firms to make limited recommendations to clients.
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NewsAdmin ‘fundamental’ to pension outcomes as TPR refreshes guidance
The regulator has issued updated guidance for trustees regarding the oversight of administrators, explaining that the function has “never been more important”.
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NewsCivil service urged to adopt LGPS-style reforms to close gender pension gap
In a joint letter to Anna Turley, minister of state at the Cabinet Office, Prospect and the FDA have warned that the gender gap in pension outcomes for retired civil servants was “unacceptably high” at around 45%.
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NewsFiduciary duty to get legislative overhaul to boost UK allocations [updated]
Torsten Bell has indicated that the government will legislate to bring fiduciary duty onto a firm statutory base, in a move that could negate the need for the Pension Schemes Bill’s controversial mandation power.