More Law & Regulation – Page 129
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News
Regulator refines website for SME auto-enrolment
The Pensions Regulator has revamped the auto-enrolment section of its website to help small to medium-sized enterprises implement the reform by adding step-by-step tools and drop-down information menus.
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Schemes face annual allowance rush to avoid fines
Schemes must inform members if they have breached the annual tax relief allowance in 2011/12 and 2012/13 by October 6 or face penalties from HM Revenue & Customs.
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Local govt funds swap 'Care' title to explain reform
Local government pension schemes have decided to use ‘account’ rather than Care when communicating their reformed scheme structure to avoid negative associations.
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Kodak deal captures new age of sponsor-scheme creativity
News analysis: Purchasing assets from insolvent sponsors could become more common for schemes looking to secure member benefits, according to lawyers working on the Kodak case.
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How to protect your scheme against payment errors
News analysis: Legal experts have warned that schemes and employers could face paying out large sums to members due to incorrect pension estimates, with requests for advice on the issue increasing.
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Scottish state pension 'triple whammy' fears
Shadow pensions minister Gregg McClymont has said Scotland’s state pension provision will be hit by a demographic “triple whammy” should the country vote for independence next September.
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Making good your scheme's common data shortfall
News analysis: The Pensions Regulator's annual record-keeping survey, released earlier this week, demonstrated a lack of awareness among smaller schemes of their data obligations, but also contained hints about how to repair administrative faults.
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Regulator: liberation fraud more sophisticated threat
News analysis: Pension liberation fraud has become more sophisticated, according to the Pensions Regulator, which is now targeting specific liberation models in a bid to slow down the pace of fraudulent activity.
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Industry to meet ministers over impact of UK split
News analysis: Industry figures will meet with ministers next month to flesh out how a split UK pensions system could work in the event of a yes vote for Scottish independence.
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How auto-enrolment exceptions help your scheme
News analysis: Exceptions to auto-enrolment regulations due next year will bring more flexibility to schemes, but may be too late to help those already enrolled.
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Deciphering the DWP's select committee response
News analysis: The government's response to its select committee pensions report, released on Friday, included plans to have a defined ambition framework in place by 2016, as well as increased governance demands.
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APPT: changes needed to combat liberation fraud
Changes to legislation could help prevent pension liberation fraud and take the burden off trustees, the Association of Professional Pension Trustees has said, as reports emerge of increased fraudulent activity.
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Solvency rules 'unlikely' to pass even after EU changes
Delayed solvency requirements under a new Institutions for Occupational Retirement Provision directive are unlikely to be passed, even after legislative revisions and changes to the European Union, according to new research.
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Kodak deal could 'set precedent' for benefit change
News analysis: The technique used to save the Kodak Pension Plan’s sponsor from insolvency could set a precedent for schemes and employers wanting to change members’ benefits to reduce risk.
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Why the Hastings-Bass ruling could protect trustees
News analysis: Schemes and their advisers do not have to fear a Supreme Court judgment that has been predicted to make it harder for trustees to rectify mistakes, lawyers have said.
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CDC working group studies Dutch and Swedish schemes
News analysis: The government’s collective defined contribution working group has studied European models to potentially bring to the UK, but pension professionals have questioned employer appetite for the benefit structure.
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Wandsworth eyes collective investment lead
Wandsworth Council Pension Fund has set its sights on leading a London-wide collective investment vehicle to drive down costs, rather than a forced merger, pensions committee documents have revealed.
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How draft contribution rules impact your scheme
The Pensions Regulator's draft contribution requirements could have a significant impact on schemes and providers by pressuring them to help police employer contributions under auto-enrolment.
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Aviva plans GPP committee to boost governance
Aviva is the latest insurer considering a trustee-type governance committee for its group personal pension to drive up standards and make its operations more cohesive.
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Essex council fund maps insolvency risk
Essex Pension Fund has produced a map to help predict employer insolvency after a liquidation left it saddled with orphan liabilities.