More Law & Regulation – Page 92
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News
Treasury accepts pension reforms were unlawful
On the go: The Treasury accepted that its 2015 public sector pension reforms were unlawful on Monday, with the court judgment likely to cost the department £4bn a year and restrict the next chancellor’s spending.
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Regulator hits back over influence on USS valuation
The Pensions Regulator has defended its record over the Universities Superannuation Scheme, after the Work and Pensions Committee questioned the regulator’s role in USS’s contested 2017 valuation.
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Supreme Court denies BT right to appeal in £2bn indexation battle
On the go: The Supreme Court has denied BT the opportunity to appeal against the Court of Appeal’s ruling preventing the company from downgrading the inflation protection given to some of its defined benefit members.
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APPT delays start of professional trustee accreditation system
On the go: The start of the new process for accrediting professional trustees has been delayed. Originally set to start in the summer of 2019, arrangements are now expected to be finalised later this year.
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£2.2bn Mercer Master Trust gains authorisation
On the go: The £2.2bn Mercer Master Trust has gained authorisation from the Pensions Regulator. The trust has 71,000 savers in the UK and is the 11th trust to gain the watchdog’s approval.
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Doctors follow firefighters and judges with planned legal action
On the go: The British Medical Association is planning to take legal action against the government on behalf of a group of younger doctors regarding alleged age discrimination as a result of transitional protection arrangements.
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Negligent scheme administrator banned from running a business
On the go: An insurance agent was banned from running a business for seven years for pension scheme negligence on Sunday, after the Insolvency Service said he put more than £13m in member savings at risk.
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Sir Steve: Government still dragging its heels on pensions equality
On the go: The government is still dragging its heels on pensions equality, former pensions minister Sir Steve Webb has argued.
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Superfunds left out of ‘quickie’ pensions bill
On the go: A radically stripped down pensions bill could appear later this month, according to the shadow pensions minister, as politicians try to squeeze in legislation before the uncertainty of Brexit and a new government kicks in.
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TPR authorises four more master trusts
On the go: The Pensions Trust, Fidelity, Standard Life and Stanplan A have gained authorisation from the Pensions Regulator, bringing the total number of approved master trusts to 10.
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TPR ponders mandatory professional trustee requirement
The Pensions Regulator is consulting on proposals to make it mandatory for a professional trustee to sit on every trustee board, in a bid to ramp up standards and drive consolidation.
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Supreme Court denies govt leave to appeal in firefighters' pension case
On the go: The Supreme Court has denied the government’s application for permission to appeal a Court of Appeal ruling that pension changes discriminated against younger members of the Firefighters' Pension Scheme.
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Regulator keeping 'careful eye' on watch list of 50 schemes
The Pensions Regulator has a watch list of 50 defined benefit schemes that it is most concerned about, the watchdog’s chief executive, Charles Counsell, has revealed.
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NewsBMA launches legal challenge over new NHS scheme suspension rules
The British Medical Association has issued legal proceedings against the government, challenging recent changes that enable the suspension of benefit payments when a National Health Service Pension Scheme member has been charged with certain criminal offences.
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Court of Appeal rejects ITV appeal against Upper Tribunal decision
On the go: The Court of Appeal has dismissed ITV's appeal against the Upper Tribunal's decision that a Financial Support Direction should be issued to the broadcaster in relation to the Box Clever scheme.
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FCA plans to ramp up supervision of transfer advice market
On the go: The Financial Conduct Authority intends to ramp up its supervision of the most active firms in the transfer advice market, after finding that 69 per cent of people seeking advice had been recommended to transfer between 2015 and 2018.
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Unions allege govt sidestepped advice on NHS pensions
On the go: The Department for Health and Social Care is under fire for reportedly deciding to pursue its ‘50:50’ reform for NHS Pensions before it had received a report commissioned from its advisory board.
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Arcadia CVA proposals approved
On the go: All seven of Arcadia’s company voluntary arrangements have been approved by the required majority of the retailer’s creditors.
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PSIG calls on trustees to review procedures amid rise in scammers
The Pension Scams Industry Group exhorted trustees to review their scam prevention procedures on Tuesday, as pension fraud attempts continue to rise despite tightening government regulations.
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CMA takes final step in reform of fid man and consultancy sectors
On the go: The Competition and Markets Authority has issued a legally binding order requiring investment consultants and fiduciary managers to provide clearer information about what their customers are getting for their money.