More Law & Regulation – Page 47
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NewsCalls to raise the contribution limit for non-earners
On the go: The pension contribution limit for non-earners should be significantly increased to help tackle the pension savings gap, Aegon has said.
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NewsRegulators should look at the role of introducers in British Steel scandal
On the go: Regulators have been urged to look again at the role of introducers in the British Steel Pension Scheme transfers scandal that has seen more than £20mn paid out in compensation.
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NewsJohnson ignores tax proposal on scam victims
Prime Minister Boris Johnson has failed to acknowledge three letters from a prominent campaigner on pension scams, which propose changes to tax rules over early pension access in a bid to protect scam victims.
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NewsLecturers strike again over USS benefit cuts
On the go: Staff at 44 institutions are to walk out once again over planned benefit cuts to the Universities Superannuation Scheme.
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NewsFCA says dashboards will increase advice ‘value for money’
On the go: The Financial Conduct Authority has said the pensions dashboards will increase competition in the advice profession and offer consumers better value for money.
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NewsL&G ‘well advanced’ with commercial dashboard development
Legal & General is “well advanced” with the development of a commercial dashboard, building on the work done in the alpha and beta stages of the Pensions Dashboards Programme.
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NewsEmployers and union at loggerheads as USS deadline looms
Employer representatives have again criticised the University and College Union as the deadline for avoiding “unaffordable” contribution rate hikes in the Universities Superannuation Scheme approaches.
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NewsOpperman fires back over universal DC charging structure
Pensions minister Guy Opperman stood his ground over the government’s expected move to introduce a single flat charge for defined contribution workplace pensions, after master trust providers criticised the proposal earlier in the week.
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NewsCall for evidence on state pension age changes as costs mount
On the go: The independent review of the state pension age has published a call for evidence seeking views on the fairness, sustainability and affordability of the system.
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NewsThe People’s Pension slams single flat charge proposal
Savers could lose thousands of pounds from their pension pots if the government proceeds with its expected plan to introduce a single flat charge for workplace pensions, according to one master trust.
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NewsMadeline Forrester appointed PPI chair of council
On the go: The Pensions Policy Institute has appointed Madeline Forrester as its new chair of council.
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NewsGovt keeps AE earnings trigger despite calls to scrap it
On the go: The government has opted to keep the earnings trigger for auto-enrolment at £10,000 for 2022-23, despite some in the industry calling for it to be scrapped to bring in more low earners.
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NewsClimate change could impact sponsor cash flow and longevity
On the go: Climate change could have significant impact on sponsor covenant, hitting cash flows and potentially impacting sponsor longevity, according to a report from the Employer Covenant Practitioners Association.
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NewsGovt to consult on ‘levelling up’ LGPS targets in summer
On the go: The Department for Levelling Up, Housing and Communities is expected to consult on the new requirement for Local Government Pension Scheme funds to set out plans for investing up to 5 per cent of their assets in domestic projects, the LGPS Scheme Advisory Board has said.
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NewsEx-Norton owner pleads guilty to illegally investing pension funds
The former owner of Norton Motorcycles has pleaded guilty to the charge of illegally investing pension scheme money in his failing company.
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NewsOpperman defends change to ombudsman appointment criteria
On the go: Pensions minister Guy Opperman has defended changes to the appointment criteria for the Pensions Ombudsman, after the last recruitment attempt failed to attract a suitable candidate.
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News‘No legal basis’ for interest payments on FAS compensation
On the go: Pensions minister Guy Opperman has sought to explain discrepancies in compensation payments between the Pension Protection Fund and the Financial Assistance Scheme arising from the Hampshire ruling, detailing that there is no legal basis for paying interest on arrears in the FAS.
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NewsLGPS funds question government’s ‘levelling up’ investment target
A handful of Local Government Pension Scheme funds and a former pensions minister are unconvinced by the government’s new requirement for these schemes to set out plans for investing up to 5 per cent of their assets in domestic projects, as trustees’ fiduciary responsibilities could come under threat.
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NewsNearly half of savers in the dark when switching pension providers
On the go: More than four in 10 pension holders surveyed by B&CE said they would not know what to look for when switching pension providers.
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NewsDB schemes’ health reaches record high
On the go: The health of UK defined benefit pension schemes edged upwards to a record high at the end of last year, according to Legal & General Investment Management.