All Regulation articles – Page 48
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News
Increased trustee workload to unleash wave of DC consolidation
On the go: One in three trust-based defined contribution arrangements expects to transfer members into a master trust over the next five years, with stakeholders citing the drain on time and resources of running an own-trust solution.
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PMI launches accreditation course for professional trustees
On the go: The Pensions Management Institute has launched its course for professional trustees seeking accreditation, after an apparent split with the Association of Professional Pension Trustees.
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ESG amendments to give govt ‘unprecedented new powers’
The Pensions and Lifetime Savings Association has warned that government bodies will have “unprecedented new powers” to interfere in pension scheme investment strategies if an amendment to the pension schemes bill is passed.
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NewsWhat are the risks of flouting ESG statement rules?
Analysis: A report into trustees’ first efforts on the new statements of investment principles has yielded damning results. But what can regulators, or even members, actually do about it?
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News
Webb urges experts to lobby Lords for pension schemes bill changes
On the go: Former pensions minister Sir Steve Webb has urged pension specialists to lobby the House of Lords for changes in the pensions schemes bill, warning that it will pass through the House of Commons unchanged.
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TPR promises more regulatory action on ESG
On the go: The Pensions Regulator has promised more action on pension schemes’ environmental, social and governance practices, rejecting accusations that it is a laggard in this area among UK regulators.
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TPR to test trustees’ knowledge in bid to improve governance
The Pensions Regulator plans to conduct checks on trustees’ knowledge to assure governance standards in the industry, and has promised to consider appropriate action where they fall below expectations.
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Industry questions regulators misalignment on chair statements
Analysis: Industry experts have questioned why regulators have taken different approaches when it comes to the disclosure of funds costs and charges in chair statements.
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Schemes to contribute £1m to Financial Reporting Council levy
On the go: Pension schemes are being asked to contribute £1m to the Financial Reporting Council levy, which will rise to £47.2m in 2020-21 from £41.7m in 2019-20.
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OpinionThe bar is getting higher for ESG considerations
As fiduciaries’ legal ESG duties continue to accelerate, James Knowles of Novarca UK says trustees and asset owners need to be well informed of all the facets of their decision-making processes.
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OpinionFCA’s response to transfer scandal too little, too late
Recent revelations that the City watchdog has concerns about the majority of the £80bn market for providing pension transfer advice in the UK have triggered shock and anger across the industry. Quite rightly too.
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News
TPR: Companies must engage early with regulator on CVAs
On the go: Firms considering a company voluntary arrangement must engage early with the regulator in the process and provide full information, the Pensions Regulator has warned.
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News
Pension funds’ recovery in question as Norton enters administration
On the go: Norton Motorcycles has gone into administration, raising questions about recouping money in three pension funds solely invested in the motorcycle manufacturer.
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Criminal sanctions could deter businesses and trustees, Lords warn
The government has been urged to review the scope of new criminal sanctions introduced by the pension schemes bill that have “been drawn incredibly widely” and could “deter respectable people from becoming trustees”.
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News
TPR fines FCA for pension failures
On the go: The Financial Conduct Authority has been ordered to pay a £2,000 fine by the Pensions Regulator for lack of details in its defined contribution scheme documentation.
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NewsGovt to consult on McCloud solution as new members could be worse off
The government has warned that changes ordered by the courts to rectify a landmark discrimination case could make some members worse off.
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News
Pensions Ombudsman to hold hearing against failed trustee
On the go: The Pensions Ombudsman will hold an oral hearing against the trustee and administrator of three pension schemes solely invested in a motorcycle manufacturer, as it has received 30 complaints against these individuals.
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News
Lords bill on TPR dividend approval and scrapping PPF cap resurfaces
On the go: A bill that would give the Pensions Regulator approval over company dividends payments and remove the cap on compensation payments made by the Pension Protection Fund has returned to the House of Lords.
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News
Contractors take advantage of LGPS loophole on exit payments
The pensions industry is still waiting for the government to close a loophole allowing outsourcers to claw back surplus from the Local Government Pension Scheme even when they have not paid into the plan.
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News
Pensions experts predict RPI limbo for years to come
Experts have condemned delays in publishing a long-awaited consultation on reforms to the retail price index, since its outcome could radically alter the fortunes of pension funds and pensioners.