More Law & Regulation – Page 3
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NewsLabour MPs turn on government over lack of WASPI compensation
Representatives of WASPI – Women Against State Pension Inequality – received support from around 100 MPs from multiple parties ahead of a legal challenge set to be heard in December.
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NewsChanging state pension age does not tackle wider retirement concerns, SPP warns
The SPP warns that relying solely on raising the state pension age implies that it could increase to 75 or beyond in the coming decades, which would “present significant political and social difficulties and would fundamentally alter retirement expectations”.
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NewsIndustry hails ‘major step forward’ as collective DC laws head to parliament
The government will lay legislation in parliament tomorrow paving the way for multi-employer collective DC schemes, and will also consult on ‘retirement only’ arrangements.
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NewsRaising auto-enrolment contributions ‘could bankrupt businesses’
With auto-enrolment contributions one of many things the Pensions Commission is considering, new research indicates that many businesses are not in sufficient shape to cope with higher payments.
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NewsThe evolving nature of trusteeship: accreditation, consolidation and AI
With the pensions sector facing up to impending consolidation across the board, the Association of Member Nominated Trustees (AMNT) has voiced concern about member representation in larger pension schemes.
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NewsPensions UK outlines feasibility study for small pots consolidation
Pensions UK Annual Conference: A feasibility review of small pots consolidation, overseen by Pensions UK, has found that more than a million pots under £1,000 could be consolidated, while approximately 800,000 pots are unlikely to be consolidated.
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NewsTorsten Bell: Time for pension ‘heroes’ to do right by savers
Pension scheme trustees and providers can play pivotal roles in a pension industry driven by a vocational need to do its best by savers, according to the pensions minister.
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NewsRaising the state pension age a complex issue, conference hears
Pensions UK Annual Conference: Raising the state pension age would be a tricky ask, and the ongoing review will likely have to consider wider societal issues such as health and productivity issues.
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NewsPensions industry confident of sector’s resilience in face of major reforms
More than three quarters of pensions industry professionals expect the sector to successfully navigate the significant reforms proposed over the next few years, according to new research from trade body Pensions UK.
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NewsDC schemes should consolidate to support guided retirement aims, TPR says
The Pensions Regulator has once again urged small pension schemes to consolidate to ensure they comply with forthcoming duties related to decumulation contained within the Pension Schemes Bill.
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NewsActuarial watchdog to develop technical guidance after Virgin Media rulings
The guidance will help actuaries who are asked to sign off on legacy pension scheme amendments retrospectively – an issue that has been plaguing certain private sector DB pension schemes since a 2023 court ruling.
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NewsPRA concerns could affect bulk annuity pricing and capacity, says LCP
The regulator’s ongoing work on a niche sector of the insurance market could affect how bulk annuity transactions are priced and structured in the future.
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NewsLawyers call for more guidance on Virgin Media ruling effects
Speakers at an SPP webinar say additional guidance on section 37 cases is needed despite the government’s pledge to mitigate the effects of the Virgin Media ruling through amendments to the Pension Schemes Bill.
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NewsDB Funding Code one year on: Aon flags challenges for trustee boards
Exactly a year after the Pensions Regulator’s Defined Benefit Funding Code came into force, Aon says the “baseline for funding standards has been raised”.
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NewsTPR: DB schemes must embrace opportunities of Pension Schemes Bill
Speaking at the Pensions Expert DB Strategic Summit this week, TPR’s David Walmsley urged delegates to embrace the opportunities of reforms currently being developed, including through the Pension Schemes Bill.
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NewsBell pledges to scrap PPF admin levy through Pension Schemes Bill
Pensions minister Torsten Bell has pledged to abolish the Pension Protection Fund’s administration levy after an industry campaign against the charge.
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NewsPensions UK sets out model for small pots consolidation
A new report recommends a “federated” system for consolidating deferred auto-enrolment pots of less than £1,000, using existing technologies and processes where possible.
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NewsCould a funded state pension ‘megafund’ help boost UK growth?
A new report from think tank The Purposeful Company calls for the creation of a £100bn funded state pension to solve affordability issues and back UK businesses.
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NewsSchemes told to tighten defences as pension fraud losses hit £17.6m
UK savers lost £17.6m to pension fraud in 2024, according to Action Fraud, as the Pensions Regulator warns trustees and administrators to ensure they do as much as possible to combat scams and support members.
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NewsBigger and better schemes will help fill in ‘pension potholes’, says Bell
Pension scheme consolidation is helping improve outcomes for UK savers, but more work needs to be done to stop a generation of pensioners slipping into poverty, the pensions minister has said.