All Policy articles – Page 11
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PLSA throws weight behind ESG and DC retirement initiatives
The Pensions and Lifetime Savings Association has made a string of recommendations to the government on environmental, social and governance investment issues, alongside a call to point retiring defined contribution members towards “preferred” products.
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Experts pour scorn on ‘pensions as deposit’ suggestion
On the go: The pensions minister’s appeal for suggested schemes that would let young savers use their retirement savings to help them on to the property ladder has been criticised as ignorant of the laws of supply and demand by pensions commentators.
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Tisa backs AE pause for strapped low earners but no respite for employers
Analysis: Pensions policy experts are split over whether the government should begin to ramp up automatic enrolment contributions with an ‘opt-down’ for low earners, after recent calls to reform the landmark pensions policy.
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Nest and DWP to analyse Covid-19 impact on self-employed savers
On the go: The government-backed master trust is to examine the financial impact of Covid-19 on self-employed people, with the pandemic delaying its practical tests expected this year.
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Unison presses LGPS schemes to work harder on green transition
Workers’ union Unison has called for local authority pension schemes to back ‘green’ causes with dedicated funds as part of their increasing commitment to climate-aware investing.
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NewsEscott on the fast track to Railpen
High flyer Caroline Escott joined Railpen on September 1 as senior investment manager for active ownership. At just 36, and a millennial in a senior role, she is a rarity in the six trillion-pound pension industry, not noted for diversity.
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MPs launch probe into access of pension savings
The work and pensions committee has announced it will focus on scams in the first stage of its three-part inquiry into the impact of pension freedoms and level of protection for pension savers.
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Small pension pots put AE success at risk
Research released by the Pensions Policy Institute warned that the proliferation of small pension pots risks undermining auto-enrolment success, unless significant government intervention is undertaken.
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Govt outlines solutions for pensions net pay anomaly
The government is seeking industry views on how to end the net pay anomaly affecting low-paid earners in the pensions tax relief system.
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Govt’s ‘landmark’ pensions bill proceeds to Commons
On the go: The pension schemes bill, which includes rules for pension dashboards and new powers for the Pension Regulator, has cleared its first hurdle in the House of Lords.
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ONS indicates master trust transfer spike as experts demand opacity
Data crunch: A massive spike in defined contribution transfers could signal frantic consolidation in the master trust sector, as experts call for clearer data from the Office for National Statistics.
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Ex-chancellor calls for flat-rate pension tax relief
On the go: Former chancellor of the exchequer Sajid Javid has called for a flat-rate pension tax relief as part of a wide-ranging post-Covid recovery plan published by the Centre for Policy Studies.
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Widespread industry support for regulator’s Covid-19 response
On the go: Industry professionals are “overwhelmingly positive” about the Pensions Regulator’s response to Covid-19, though they remain pessimistic about future prospects, according to a report from the Pensions Management Institute.
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Lords’ climate amendment could dilute trustee power
An amendment to climate risk provisions in the pension schemes bill could force schemes to align their investment strategies with the Paris agreement, going one step further than the government’s own provisions for reporting against sustainability criteria.
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Social care crisis: is auto-enrolment the answer?
Auto-enrolment-style contributions could hold the key to solving the UK’s growing social care crisis, according to the sponsors of a report into the funding shortfall for care in later life.
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IFS calls for end to ‘ludicrous’ pension taxes
On the go: The Institute for Fiscal Studies has called on the government to put a stop to the “ludicrously generous” tax treatment of inherited pensions, rather than tinkering with pensions tax relief in next month’s Budget.
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DWP self-employed savings trials disappoint
On the go: A Department for Work and Pensions trial of techniques to encourage more self-employed workers to save into a pension pot has failed to persuade many to log into their accounts.
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Govt maintains earnings trigger despite industry criticism
On the go: The government has opted to maintain the earnings trigger for automatic enrolment at £10,000 for 2020-21, despite long-held industry concerns that the current level is limiting pensions coverage among underprivileged demographics.
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Opperman warns providers on dashboard preparations
On the go: Pensions minister Guy Opperman has urged providers to start preparing their data now for the anticipated arrival of pensions dashboards.
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Regulator outlines Q1 policy plans
On the go: The Pensions Regulator is to publish recommendations on trustee diversity and governance in February, as the watchdog set out its policy commitments for the early months of 2020.