More Law & Regulation – Page 65
-
NewsDWP to consult on dashboards’ draft regulations in December
The Department for Work and Pensions will be launching a consultation on the pensions dashboards’ draft regulations, which will include rules on the different stages pension schemes will need to start sharing their data to be included in the project.
-
NewsGovt announces public service pension bill to implement McCloud
On the go: The government has announced a new bill intended to push ahead with the implementation of the McCloud remedy.
-
NewsRPI change may leave DB schemes at risk of overpaying transfer values
On the go: The change to the retail price index means that defined benefit schemes risk overpaying transfer values by 10 per cent if transfer terms are not adjusted, according to calculations by Hymans Robertson.
-
NewsFRC slaps DB scheme auditor with £125,000 fine
A chartered accountancy firm and one of its partners have been slapped with a hefty fine for “pervasive failures” in the manner in which they conducted an audit of Associated British Engineering, which included shortcomings in the audit of the company’s defined benefit pensions scheme liabilities.
-
NewsPolice slate ‘deeply unfair’ ramifications of McCloud remedy
Police officers from every federated rank in the UK have written to the chairs of the Police Pension Scheme advisory boards to complain about the “deeply unfair” ramifications of the government’s McCloud remedy.
-
NewsGovt urged to encourage later life pension contribution plan
On the go: Policymakers should carefully consider later life cycle factors when developing future policies to increase retirement savings, according to the Institute for Fiscal Studies.
-
NewsFinancial bodies call for new online scam rules
On the go: Seventeen groups have joined forces to warn about online scams and lobby the government to include methods to tackle this issue in its upcoming online safety bill.
-
NewsFCA to require TCFD reports from providers and asset managers
On the go:The Financial Conduct Authority is to consult on the introduction of Task Force on Climate-related Financial Disclosures requirements for schemes it regulates, bringing its regulations into line with those proposed by the Department for Work and Pensions.
-
NewsBarnet Pension Fund back on track following change in administrators
Barnet Council’s pension fund has largely recovered from an era of errors under Capita, with its new administrators overseeing significant improvements in the handling of member data.
-
NewsFCA proposes new illiquid fund structure for DC schemes
On the go: The Financial Conduct Authority is proposing a new category of fund that will allow defined contribution schemes to invest in illiquid assets.
-
NewsSarah Smart appointed permanent chair at the Pensions Regulator
On the go: The Department for Work and Pensions has confirmed the appointment of Sarah Smart as permanent chair of the Pensions Regulator.
-
NewsMPs demand Sunak addresses mineworkers’ scheme issues
On the go: The Business, Energy and Industrial Strategy Committee has called on the government to bring its approach to the Mineworkers’ Pension Scheme into line with its “levelling up” agenda, branding the current arrangement “antithetical” to that policy.
-
NewsActuary receives £65,000 fine from FRC due to misconduct
The Financial Reporting Council has issued a £65,000 penalty and imposed a severe reprimand to an actuary, due to misconduct relating to services provided to Coats Group between 2005 and 2012.
-
NewsNest recommits to closing ethnicity and gender pay gaps
On the go: Nest has recommitted itself to closing its ethnicity and gender pay gaps, following the publication of data showing more work is needed to achieve parity.
-
NewsUK pension schemes under-allocated to Chinese equities
UK pension schemes’ allocation to China as a percentage of global equities is generally inadequate, but there is no consensus as to how big the allocation should be, according to participants at Camradata’s Investing in China roundtable.
-
NewsTPR takes trustees to court over employer loans
On the go: The Pensions Regulator is taking two pension trustees to court over allegations they made prohibited loans from a company pension scheme to its employer.
-
NewsFCA tells providers to book Pension Wise sessions for savers
On the go: Providers will have to offer to book Pension Wise appointments for clients looking to access their defined contribution pensions, under rules proposed by the Financial Conduct Authority.
-
NewsUUK proposes USS governance reform, 20-year moratorium on exits
Universities UK, the employer group representing 340 Universities Superannuation Scheme members, has raised the prospect of a 20-year moratorium on scheme exits in a bid to show a greater commitment to covenant support.
-
NewsTPR warns against hasty reactions to Covid-19 mortality figures
The Pensions Regulator has warned against hasty reactions to the Covid-19 pandemic, saying it is still “early days” in our understanding of how the virus has impacted longevity and life expectancy assumptions.
-
NewsMP joins calls to force internet giants to tackle scams
On the go: Conservative MP Ruth Edwards has urged the government to tackle the issue of online pension scams, raising concerns that online platforms have no legal obligations to protect users against fake or fraudulent content.