All Regulation articles – Page 23
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NewsInflation jump poses ‘a real challenge’ for pension schemes
The surge in inflation in August – the highest since records began in 1997 – could prove “a real challenge” for pension schemes, experts have warned, especially if it proves not to be a transitory phenomenon.
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News
ABI calls for govt to 'rethink' normal minimum pension age hike
The Association of British Insurers has called on the government to scrap its “complicated”, “arbitrary” and “confusing” plans to raise the normal minimum pension age “until something fit for purpose” has been developed.
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News
Calls for climate reporting harmony as FCA and DWP rules diverge
The Financial Conduct Authority’s climate-related disclosure rules for asset managers, life insurers and its regulated pension providers should be brought into line with Department for Work and Pensions regulations to give greater clarity and consistency, the Pensions and Lifetime Savings Association has said.
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OpinionThe future of DC schemes: Go big and go green
Independent Trustee Services client director Dianne Day details the drivers behind consolidation in the defined contribution market, and the role environmental, social and governance investing is playing in this area.
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NewsKent Pension Fund breaches LGPS regulations
On the go: Connection trouble with a third-party pensions administrator’s systems has caused staff productivity at the Kent Pension Fund to suffer, while poor record management by Kent Police led to a breach of Local Government Pension Scheme regulations.
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NewsTPR auto-enrolment enforcement figures back to pre-pandemic levels
On the go: The number of warnings issued to employers for failing to comply with auto-enrolment rules are back to pre-pandemic levels, the Pensions Regulator has said.
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News
TPR’s notifiable events regime more impactful than criminal powers
The new regime setting out what type of events trustees and employers are required to notify the Pensions Regulator about will have a greater potential to impact corporate activity than the regulator’s controversial new criminal powers, experts have warned.
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Features
Better data needed for schemes to tackle modern slavery
As pension schemes struggle with data on modern slavery in global chains, corporate engagement takes the lead in the battle to tackle social issues.
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NewsUSS pushes ahead with reform proposals despite strike threat
The Universities Superannuation Scheme trustee is to push ahead with a reform package agreed by USS employers, despite threats of strike action from the University and College Union.
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NewsMajority of schemes set to increase illiquid assets allocation
On the go: Around 85 per cent of UK pension schemes are set to increase their allocations to illiquid assets in the next three years, according to research from Alpha Real Capital.
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NewsPublic sector schemes wary of TPR’s new code of practice
Public sector schemes should press on with implementing the Pensions Regulator’s new code of practice, Aon has said. However, schemes are concerned about the new rules and have asked for more clarity from the watchdog.
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NewsPandemic impacts DB schemes’ deficit recovery periods
On the go: The deficit recovery periods of defined benefit schemes with valuations in 2020-21 was impacted by the pandemic-led crisis, with these schemes having a smaller reduction than expected, according to new analysis.
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FeaturesGuidance ‘stronger nudge’ could lead to poor member experience
The proposed rules requiring trustees and scheme managers to “nudge” individuals to obtain guidance when accessing their pension will cause administration mayhem and could lead to poor member experience, industry experts have warned.
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NewsIndustry fears another missed dashboards deadline
On the go: The pensions industry doubts whether the pensions dashboards will be delivered on time, as more than three-quarters of respondents to a Pensions Management Institute survey said they thought the project would still not be operational by 2023.
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PodcastsPodcast: Industry ‘irritation’ with TPR’s code of practice could have been avoided
Podcast: The negative reaction of the industry to the Pensions Regulator’s new code of practice shows what can happen if consultations are handled poorly, says Tim Middleton, director of policy and external affairs at the Pensions Management Institute. He is joined by Steven Taylor, partner at LCP, to discuss consultations, collective defined contribution schemes, and flexibility within the defined benefit universe.
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NewsStrike action ‘inevitable’ after employers agree USS reforms
The University and College Union is to ballot its members over industrial action, branding strikes “inevitable” after employers agreed to press ahead with reforms of the Universities Superannuation Scheme.
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NewsDraft CDC regulations hampered by poor definitions, industry warns
The government’s consultation into draft regulations governing collective defined contribution schemes requires more work on definitions if these pension funds are to be properly implemented, with the Pensions and Lifetime Savings Association warning it could create a “back door” for unscrupulous employers.
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NewsFCA to review DB transfer redress guidance
On the go: The Financial Conduct Authority is preparing to review its redress guidance for unsuitable pension transfer advice by the end of the year and has clarified what it expects of financial advice companies in the meantime.
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News
TPR’s ESG guidance raises industry concerns on privacy and penalties
The Pensions Regulator’s draft guidance on climate change reporting and governance is not sufficiently clear on what constitutes compliance, and the watchdog needs to provide clarity on its approach to discretionary penalties, the Society of Pension Professionals has warned.
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NewsNew regulatory rules could put UK dividend recovery at risk
On the go: The pace of dividend recovery for UK companies could be put at risk due to new pension regulatory rules coming into force on October 1, LCP has warned.