All Regulation articles – Page 61
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OpinionTrustees must take valuation deadlines seriously
Agreeing a triennial valuation is a key priority for the trustee of a defined benefit scheme and its sponsoring employer. It allows the Pensions Regulator to check the health of a scheme and its ability to provide members with their expected retirement benefits.
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News
Select committee chair loses no confidence vote by local party
Labour MP Frank Field has lost of vote of no confidence in his constituency, as local party members try to oust the Work and Pensions Committee chair over his support for Brexit.
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News
Brewery fined for refusing to share information with TPR
Samuel Smith Brewery and its chairman must pay fines of almost £28,000 for failing to hand over to the Pensions Regulator requested information relating to its defined benefit schemes, Brighton Magistrates Court ruled on Monday.
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OpinionHow to cope with increasing regulatory burdens
From the blog: Good governance is the bedrock of a properly functioning trustee board. However, it is evident that trustees are struggling under a governance burden, which stems from the need to comply with increasing legal requirements and ever more Pensions Regulator publications.
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News
Communications essential as cold-calling ban takes step forward
The Department for Work and Pensions has taken a further step towards implementing a ban on cold calls related to pensions, but experts have cautioned that the delayed measure will not be sufficient on its own to stamp out scams.
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NewsMandatory tenders welcomed by pensions industry
UK pension schemes will be required to conduct competitive tender processes before hiring their first fiduciary manager, under recommendations set out by the Competition and Markets Authority on Wednesday.
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News
CMA wants mandatory tendering to tackle competition weaknesses
On the go: UK pension schemes will be required to conduct competitive tender processes before hiring their first fiduciary manager, under recommendations set out by the Competition and Markets Authority on Wednesday.
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OpinionIncreasing TPR powers vital to protect DB schemes
From the blog: The white paper on protecting defined benefit schemes will go under the spotlight on Wednesday with both the Pensions Regulator and pensions minister giving oral evidence to the Work and Pensions Committee as part of its inquiry.
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Opinion
How would a lack of government support affect dashboard progress?
Analysis: Reactions to speculation that the secretary of state for work and pensions wants to scrap the pensions dashboard project have been unsurprisingly negative.
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OpinionWhat the DWP’s new DB funding code could mean for trustees
The Pensions Management Institute’s Lorraine Harper discusses the revised regime for scheme funding set out in the Department for Work and Pensions’ white paper on defined benefit pension schemes, published earlier this year.
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News
Select committee hails CDC as 'new Beveridge' for UK pensions
Collective defined contribution schemes could usher in a new era of progress for the welfare state, according to the Work and Pensions Committee’s latest report, as the influential group of MPs seeks to increase pressure on government to facilitate the swift creation of CDC schemes.
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OpinionShould I stay or should I go?
Editorial: Moving away from the security of a guaranteed defined benefit fund is a big decision to make. For many, it may be the wrong decision.
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OpinionLGPS shared services: Loss of control or efficiency booster?
We have already witnessed some level of Local Government Pension Scheme shared services in investment and procurement, and it seems logical to extend this. But how can funds address issues related to valuations and contributions? David Davison at Spence & Partners discusses.
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News
Could mastertrust consolidation result in stranded schemes?
Strict requirements for mastertrusts to contingency plan for their own demise as part of the sector’s new authorisation regime may have unintended consequences if wound-up schemes become stranded, experts have warned.
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OpinionSchemes must be prepared for an interventionist regulator
Defined benefit trustees and employers should both expect to see more of the Pensions Regulator in the coming years, says Sackers’ Peter Murphy, as its new approach and suite of powers look set to target scheme funding and corporate transactions.
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OpinionSidecars suit self-employed
Editorial: Self-employment is more common than ever, and the distinct lack of any concrete solution to get these people saving for retirement is becoming increasingly worrying.
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News
Smart Pension fined for failure to report missing contributions
On the go: Smart Pension's trustee has been fined by the Pensions Regulator for failing to report unpaid pension contributions to members and the watchdog.
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OpinionThe day that climate became mainstream
From the blog: Climate campaigners across the country spluttered into their morning cups of fair trade coffee last Tuesday as the Department for Work and Pensions and Financial Conduct Authority published their final responses to the Law Commission’s 2017 report on pensions and social investing.
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News
Trustees warned to be vigilant before approving superfund deals
Trustees eyeing a transfer into one of the UK’s nascent superfunds must consider the viability of the acquiring consolidation vehicle before consenting to a ‘buyout-lite’ deal, the Pensions Regulator’s executive director of frontline regulation has warned.
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News
Industry calls for regulatory speed and stronger approach to scams
The pensions industry has voiced concerns over regulatory weaknesses and a lack of urgency when tackling scams and regulating defined benefit to defined contribution transfers.