All Pinsent Masons articles – Page 5
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News
BHS collapse raises questions for the regulator
The Pensions Regulator is investigating the BHS Pension Scheme as the sponsoring employer enters insolvency, but some experts queried why the regulator did not act sooner to secure the ailing scheme.
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NewsCostly equalisation error: Morrisons handed £100m liability by High Court ruling
A High Court ruling on the benefits for 15,000 former Safeway workers has added a £100m liability to current owner Morrison’s defined benefit obligation, pointing to the difficulties involved in equalisation.
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News
High Court ruling ramps up fears over pension liberation
The High Court has ruled against insurer Royal London for blocking a pension transfer where it suspected the receiving fund could be a pensions liberation scheme, prompting industry observers to raise concerns about protections for members, providers and trustees.
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News300 Scots hit by pension scam as advice gap persists
Scottish police are investigating a £10m pension liberation fraud that has targeted more than 300 people north of the border – a reminder for the industry of members’ vulnerability to evolving fraudulent operations.
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News
Scottish ruling creates confusion for pensions lawyers
Pensions lawyers need guidance on how to treat antiquated or onerous scheme rules, experts have said, after Scotland’s highest appeal court ruled that a legal firm must pay more than £62,000 to the Scottish Solicitors Staff Pension Fund.
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News
Simpler AE could benefit small employers
Further simplification of auto-enrolment regulations, now under consultation by the Department for Work and Pensions, will benefit small employers, but industry experts have said the policy is still playing catch-up with “horrendously complex” legislation.
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News
Treasury empowers FCA to curb exit charges
The Treasury today announced plans for new legislation that will place a duty on the Financial Conduct Authority to cap 'excessive' early exit charges for members seeking to access pension savings under the freedoms.
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NewsAutumn Statement gives pensions industry a breather
The pensions industry has learned to brace itself for surprise over the last couple of years, so was relieved to escape relatively unscathed in Wednesday’s Autumn Statement.
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News
Shared pain, shared gain: Will risk-sharing get its day in the sun?
News Analysis: Collective defined contribution schemes have been put on ice by the pensions minister though the idea could come back on the agenda in the future. But are UK employers ready for risk-sharing?
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NewsOsborne's wealth funds target LGPS cost savings to boost infra
Chancellor George Osborne pushed local authority scheme collaboration forward this week by declaring they would be pooled into six 'British Wealth Funds' as part of a plan to ramp up infrastructure investment and reduce scheme running costs.
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NewsFreedom variability distorts member behaviour, FCA study shows
Data from the Financial Conduct Authority has shown drastic changes in how consumers access their pensions since the introduction of the flexibilities, though experts have said difficulty accessing some options may have skewed consumer choices.
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Opinion
Pension scams: Time to fight back
Doping in elite sport remains one step ahead of the World Anti-Doping Agency and its affiliate testing programmes.
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News
Code raises scheme defences against pension scammers
A code of practice to help schemes battle pension scams has been welcomed by the industry, but experts remain divided over the legal burden faced by trustees processing transfer requests.
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Features
How schemes could use secondary debt market after Kaupthing ruling
Legal experts have said a High Court ruling allowing schemes to sell section 75 debts – triggered when an employer leaves a pension scheme – could reduce running costs by speeding up the exit of sponsoring employers.
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News
Personnel shortage anticipated for independent governance bodies
Independent governance committees could be hampered by a shortage of experienced professionals as contract-based scheme providers race to set up bodies by April 2015, with industry figures suggesting sharing personnel.
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Opinion
Editorial: Speak softly and carry a big stick
We may have taken our annual print break over the past three weeks, but online at pensionsweek.com we’ve ensured our summer holiday readers had plenty to browse through.
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NewsLaw firms poised for 2014 AE capacity crunch
An eightfold rise in the number of employers reaching their auto-enrolment staging date next year could leave many of them struggling to find the appropriate legal advice to complete the process, industry experts have said.
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News
How draft contribution rules impact your scheme
The Pensions Regulator's draft contribution requirements could have a significant impact on schemes and providers by pressuring them to help police employer contributions under auto-enrolment.
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News
How the 2013 funding statement affects your scheme
NEWS ANALYSIS: The Pensions Regulator’s 2013 annual funding statement has set out the flexibilities open to schemes in the tough economic climate, but pension professionals have said those carrying out valuations this year could find the process challenging.
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Features
Schemes cut cost of deferred members' small pots
Defined contribution (DC) schemes are reaching a tipping point where the number of deferred members are beginning to overtake active ones, meaning greater administration costs for members no longer employed at the company.