More Law & Regulation – Page 7
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NewsWork and Pensions Committee demands answers on WASPI compensation
The Work and Pensions Committee chair Debbie Abrahams has written to the Work and Pensions Secretary asking for more information about the government’s decision not to compensate women who were affected by the rise in the state pension age.
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NewsUK growth investing can fit with fiduciary duty, law firm says
Law firm Eversheds Sutherland and master trust provider NatWest Cushon say the current law around fiduciary duty allows trustees to consider UK investment opportunities with members’ future prosperity in mind.
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NewsSimplify actuarial advice rules, argues SPP
Proposed new rules for actuarial advice should be revised to reduce unnecessary communication and complexity, according to the Society of Pension Professionals.
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NewsWork and Pensions Committee to grill industry and regulators on dashboards
Representatives from the FCA, TPR, the Money and Pensions Service and the Pensions Dashboard Programme will all be questioned by the Work and Pensions Committee.
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NewsAI and ‘responsible innovation’ at centre of TPR’s data revolution
The Pensions Regulator is to establish an artificial intelligence advisory council as part of a wide-ranging overhaul of how it uses data and technology.
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NewsPoor data costing schemes money and resources, study shows
As the first pensions dashboards connection deadline approaches, new data from technology provider Heywood warns that data quality is still falling short of requirements.
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Trustee body slams UK Stewardship Code changes as ‘unacceptable’
The Association of Member Nominated Trustees has criticised the FRC for what it deems the “emasculation” of a key principle of the existing UK Stewardship code.
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NewsTPR overhauls DC supervision to support ‘megafunds’ growth
TPR is to split its oversight of defined contribution pension funds into four categories as part of a major overhaul designed to reflect the changing nature of the sector.
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News‘Strategically significant’ pension funds to come under TPR’s spotlight
TPR’s chief executive has set out the regulator’s priorities for 2025 and appealed for “ideas and solutions” from the industry.
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NewsTPR turns up the heat on pension schemes
Data shows that the Pensions Regulator requested more formal interviews with individuals in 2024 than in the previous five years combined.
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NewsTPR chair praises industry diversity progress
The pensions industry is doing “a million times better” on diversity – but there are still areas for improvement in recruitment practices.
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NewsDWP to consider changes to PPF levy [updated]
The next PPF levy bill could be smaller or even zero, after the DWP agreed to consider changes to the levy rules.
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NewsMPs seek to force government’s hand on WASPI compensation
MPs have tabled a bill aimed at forcing the government to compensate women who were victims of maladministration related to the rise in the state pension age.
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NewsGovernment to announce DB surplus extraction rules in the spring
The government has confirmed plans to relax rules around defined benefit pension scheme surpluses, paving the way for excess funds to be paid out to members or employers.
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NewsPLSA: Don’t make pension schemes carry inheritance tax burden
Plans to charge inheritance tax on unused retirement pots risk turning pension schemes into tax administrators and creating unnecessary distress for bereaved families, according to the Pensions and Lifetime Savings Association.
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NewsHMRC moves to address pension tax overpayment issue
HM Revenue & Customs (HMRC) is to refund £49.5m in overpaid tax to people who withdrew cash from their pension pots in the last three months of 2024.
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NewsSPP labels inheritance tax payment proposals ‘very problematic’
Requiring pension scheme administrators and trustees to take responsibility for inheritance tax payments could cause problems, according to the SPP - and there are viable alternatives.
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NewsSchemes get permanent exemption from derivative clearing rules
Pension schemes will not be required to trade derivatives through central counterparties after the government extended a regulatory exemption indefinitely.
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NewsOutlook 2025: The pensions industry’s wishlist for the new year
Pensions Expert spoke to six major industry groups to find out what they want to see happen in 2025, from the Pensions Review and the Pension Schemes Bill to trustee powers and improvements to member outcomes.
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NewsNo compensation for WASPI women, says government
The government will not pay any compensation to women born in the 1950s and affected by the rise in the state pension age.