More Law & Regulation – Page 40
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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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NewsParliamentary fund heeds Sunak’s warning over Russia
On the go: The Parliamentary Contributory Pension Fund has ordered its fund managers to divest from Russian assets where possible, after uncovering a small amount of direct Russian holdings.
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NewsUSS discourages use of alternative benefits modellers
On the go: The Universities Superannuation Scheme has discouraged members from using alternative benefits modellers to work out how they will fare following the conclusion of the scheme’s 2020 valuation, warning that they operate on very different assumptions to those agreed by employers and the trustee.
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NewsStaffordshire University staff to walk out over pension reform
On the go: Staff at Staffordshire University are set to walk out over plans to hire new staff through a subsidiary company, meaning they will not be given access to a defined benefit pension.
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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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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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NewsPensions market remains far from transparent, FCA says
On the go: The pensions market remains one of the least transparent, according to the head of pensions policy at the Financial Conduct Authority.
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NewsGovernment to legislate soon on scheme investment in illiquids
The government will introduce legislation to help pension schemes invest in illiquid assets, the work and pensions secretary has said.
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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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NewsTPR to issue new guidance on employer covenant
On the go: The Pensions Regulator is working on fresh guidance regarding employer covenant, which may emerge in autumn of this year.
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NewsTPR’s web-based scheme return questions cause industry mayhem
Actuaries, trustees and consultants are disappointed with a new method introduced by the Pensions Regulator for scheme returns, pointing out that a web-based form with additional questions implemented this year has increased the risk of providing wrong information.
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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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NewsFTSE 100 firms lagging on data, half of schemes have impact investments
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with a majority of FTSE 100 companies still failing to disclose diversity and welfare data in their annual reports, and Big Society Capital finding that half of all UK pension funds now hold some form of impact investment.
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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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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.
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NewsEight out of 10 young adults demand earlier pension saving
On the go:More than eight in 10 young people want pension saving to begin before individuals reach the age of 22 — the default age from which employees are automatically enrolled into a workplace pension.
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NewsIWD: Mountain still to climb on the way to pensions parity
Research published ahead of International Women’s Day, which takes place on March 8, indicates that women are struggling to keep up with men in the UK when it comes to saving for their retirement.
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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.