All The Pensions Regulator (TPR) articles – Page 10
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NewsUnion attacks ‘unacceptable’ hike to Railways pension contributions
The National Union of Rail, Maritime and Transport Workers has warned that changes to the Railways Pension Scheme’s investment strategy, following a Pensions Regulator intervention, would result in an “unaffordable and indeed unacceptable” 7.6 per cent hike in members’ contributions.
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NewsTPR approached a ‘number of times’ by capital-backed consolidators
The Pensions Regulator has been approached a “number of times” by companies working on capital-backed consolidation models, according to Charles Counsell, who has called for superfund legislation.
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NewsAPPT pushes for diversity and inclusion in trustee boards
On the go: The Association of Professional Pension Trustees has launched a “hints and tips” briefing focused on diversity and inclusion, in a bid to influence how trustees go about shaping their boards.
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NewsCovid-hit fiduciary management market gains 70% in 5 years
Although the UK fiduciary management market has risen by 11 per cent a year over the past five years, its growth is still below the previous period’s figures, with Covid-19 having an impact on selection processes in 2021, according to a survey by IC Select.
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NewsOmbudsman orders law firm to pay thousands in missing contributions
The Pensions Ombudsman has handed a £1,000 fine to a law firm and ordered it to repay thousands more in missing contributions, after it failed to engage either with the affected member or the ombudsman’s office.
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NewsOpperman: 12mn people are under-saving for retirement
Pensions minister Guy Opperman has told MPs that around 12mn people are under-saving for their retirement, accounting for 38 per cent of the nation’s working age population.
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People NewsPensions industry pays tribute to Queen Elizabeth II
The pensions industry has paid tribute to Queen Elizabeth II, “an inspirational example to so many” who spent a “lifetime of dedicated service to the country and the Commonwealth”.
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NewsTPR’s criminal powers ‘pose risks’ to universities
The Pensions Regulator’s new criminal powers could potentially pose risks to university sponsors of defined benefit schemes, especially in light of reforms at the Universities Superannuation Scheme, legal experts have said.
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NewsTriple lock, NHS and merging regulators on Liz Truss’s agenda
The new prime minister faces a host of economic problems, ranging from the cost of living crisis to the staffing crisis in the NHS as she enters Number 10, industry experts have said, with all eyes on the government’s forthcoming “fiscal event”.
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OpinionTrustees should pay attention to TPR’s corporate plan
Independent Trustee Services associate director Jennifer Adams details the regulator’s priorities set out in its corporate plan and how trustees should use this to guide their work in the coming months.
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NewsTribunal upholds £400 TPR fixed penalty notice
On the go: A tribunal has enforced a £400 fixed penalty notice issued by the Pensions Regulator against an employer that failed to comply with an unpaid contributions notice.
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OpinionDashboards data outsourcing contracts risk non-compliance
Eversheds Sutherland’s Lorna Doggett and Helen Tabiner detail how outsourcing data administration for pensions dashboards outside the UK is riddled with a series of compliance issues due to new legislation.
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NewsNine in 10 DB transfers receive scam warning in July
On the go: Around 94 per cent of defined benefit transfers registered as having one or more scam warning signs, according to XPS Pensions Group.
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OpinionTPR’s single code: Where is the finish line?
Sackers senior associate Emily Whitelock outlines what trustees can and should be doing in advance of the regulator’s new single code of practice coming into force in the autumn.
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NewsTrustee pair pleads guilty to making illegal loans
On the go: Two pension trustees have pleaded guilty to making illegal loans amounting to £236,000 from a company pension scheme to its employer, according to the Pensions Regulator.
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NewsTPR: ‘Keep asking questions’ about investment strategies
On the go: The current economic malaise, and especially the impact on liability-driven investments now interest rates are rising, proves it is especially important that trustees continue to ask questions about their investment strategies, even if they seem “silly”, says Fred Berry, the Pensions Regulator’s lead investment consultant.
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NewsNew funding proposals threaten ‘the demise of DB schemes’
New defined benefit funding rules may lead to “potentially severe outcomes”, consultancy LCP has warned, while Mercer has predicted that the regulations would “accelerate pension liability buyouts and the demise of DB schemes”.
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NewsTPR advises employers to shield schemes from refinancing costs
On the go: Companies and pension scheme trustees should take steps to protect their schemes and their employer covenant from the fallout of any refinancing that they have undertaken, according to David Fairs, the Pensions Regulator’s executive director of regulatory policy, analysis and advice.
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OpinionMembers or fraudsters? Take action now to weather the dashboard storm
GBG’s Spencer Lynch issues a call to arms on the pensions dashboard initiative.
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NewsScams action group gets six-figure budget to tackle fraud
On the go: The Pension Scams Action Group, a renamed and revamped Project Bloom, is to get a six-figure budget to tackle scams across the next year, with the prospect of more to come.