All Policy articles – Page 9
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NewsPension tax change proposals branded ‘tragic’ and ‘crazy’
On the go: Rumours that the Treasury is planning to raid pensions have been branded “tragic” and “crazy” by speakers at a Hymans Robertson webinar, who warned that any reforms harming incentives to save could undo the work put in to boost retirement standards.
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NewsAltmann urges pensions triple lock reform as Sunak changes tone
On the go: Choosing to scrap the pensions triple lock just because of one year’s set of numbers is unwise, but a radical overhaul of state pension support is needed, according to former pensions minister Baroness Ros Altmann.
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PodcastsPodcast: Tapping DC for Long-Term Assets Fund requires ‘rigorous’ scrutiny
Podcast: HM Treasury’s proposals to tap defined contribution schemes for its new Long-Term Assets Fund is not a bad idea, but problems with daily dealing remain, and it requires the kind of “rigorous” scrutiny applied to other new asset classes. PensionBee chief executive Romi Savova and Jonathan Parker, head of DC and financial wellbeing at Redington, discuss the LTAF, rumours of a tax raid, and the Pensions and Lifetime Savings Association’s new Responsible Investment Quality Mark.
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NewsGovt rejects calls for £1.2bn pension boost for mineworkers
On the go: The government has rejected calls to reform the Mineworkers’ Pension Scheme that could have seen its members share an additional £1.2bn, a decision critics have branded “intransigent” and a “slap in the face”.
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NewsTapping DC schemes for growth fund raises industry concern
Chancellor Rishi Sunak is reportedly hoping to draft defined contribution schemes into propping up the government’s proposed Long-Term Assets Fund, though experts have raised concerns about its practicality.
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NewsGovt to reform discount rate and cost-control mechanism
The government has proposed aligning the discount rate review periods with the valuation cycles of public service pension schemes, and is taking forward reforms to the cost-cap mechanism first proposed by the government actuary.
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NewsRushing DC consolidation could hurt member outcomes
The Department for Work and Pensions wants to speed up consolidation among schemes with less than £5bn in assets. Although the initiative was broadly welcomed, experts have warned that rushing its implementation could worsen member outcomes.
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NewsIndustry warns against Treasury ‘tax raid’
Experts from across the pensions industry have warned against a rumoured “tax raid” in the autumn budget.
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NewsMP tables bill to clarify rules around GMP conversion
On the go: A private members’ bill has been tabled in the House of Commons that aims to amend and clarify existing rules around guaranteed minimum pension conversion.
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NewsIndustry focus shifts toward the ‘S’ in ESG
Three quarters of Pensions and Lifetime Savings Association members intend to review their social policy in the coming year, according to its response to the government’s consultation focusing on social risks and opportunities for occupational pension schemes.
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NewsGovernment actuary proposes cost control mechanism reform
Martin Clarke, the government actuary, has proposed changing the cost-control mechanism used in the reformed public service pension schemes in a bid to tackle the “perverse outcome” of the 2016 valuation.
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NewsIndustry bodies warn of 'consultation fatigue'
A number of industry bodies are concerned about “fatigue” from a deluge of consultations, Pensions Expert can reveal, warning that the sheer number of responses required, coupled with the short time-frames in which to prepare them, risks overwhelming their ability to respond properly.
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NewsDWP presses ahead with TCFD rules in time for COP 26
The Department for Work and Pensions is to press ahead with new rules that will require trustees to report on their schemes’ climate change investment risks by October, but has introduced a number of changes and easements to the regulations after industry concerns.
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NewsTPR: Trustees must ‘improve their understanding’ of liquidity risks
On the go: Trustees need to improve their understanding of liquidity risks and do more to monitor and mitigate against them, the Pensions Regulator has said.
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NewsScams, dashboards, superfunds feature in TPR’s three-year plan
The Pensions Regulator has published its latest three-year plan, an agenda encompassing everything from pensions security, tackling scams, dashboards, superfunds, and coping with the changing nature of defined contribution pension provision.
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NewsDC schemes to send two-page ‘simpler statements’ in 2022
The Department for Work and Pensions is consulting on regulations that would see schemes required to send simpler annual benefit statements to their members from April next year.
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NewsPPI launches UK pensions framework
On the go: The Pensions Policy Institute is launching a UK pensions framework, since “work and retirement landscapes are undergoing significant change around the world”.
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NewsGovt’s new anti-scam measures cause industry concern
Industry reaction to the government’s new consultation on pension scams and transfers have been far from unanimous, with many welcoming the intention but warning of the potential for thousands of legitimate transfers to be needlessly blocked and delayed.
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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.
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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.