All The Pensions Regulator (TPR) articles – Page 26
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News
Third of schemes had data breaches in the past year
On the go: One-third of pension schemes have had their data breached in the past 12 months, according to new research.
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Guidance brings ‘welcome clarity’ for trustees over financial advice
On the go: New guidance from the Financial Conduct Authority and the Pensions Regulator has clarified what constitutes unregulated financial advice, allowing schemes to offer cash equivalent transfer value quotations and annuity estimates, but banning drawdown illustrations.
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Pandemic dampens DC membership growth in 2020
On the go: The increase in defined contribution members slowed to 11 per cent in 2020 as a result of the pandemic, compared with 17 per cent in the previous year, according to data from the Pensions Regulator.
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NewsIndustry facing trustee exodus due to TPR’s new powers
Concerns about the reach and remit of the new powers afforded to the Pensions Regulator have not been addressed by its guidance or draft policy, and are even forcing some trustees to quit, Aon has said.
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NewsMPs call on government to mandate anti-scam intelligence sharing
MPs on the Work and Pensions Committee have called on the government to beef up anti-scam intelligence sharing via legislation, amid warnings tech giants are profiting from pension scam adverts.
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OpinionSystemic issues won’t be addressed until regulator thinks systemically
ShareAction’s director of policy, Bethan Livesey, calls for the regulator to provide sector-wide resources and data on environmental, social and governance risks for schemes to use in their own assessments.
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TPR clarifies expectations in settlements policy statement
On the go: The Pensions Regulator published a settlements policy statement on Thursday with the overarching aim that these agreements offer fair and appropriate outcomes.
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Industry expects TPR influx of clearance applications
More than 90 per cent of pension professionals have said they expect clearance applications to increase in light of the Pensions Regulator’s new criminal powers.
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Pension schemes urged to raise alarm over scams
On the go: Pension schemes are being urged to raise the alarm over scams following a concerning long-term drop in reporting.
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News
Government to review DB consolidators taxation regime
On the go: The government is to review the taxation framework for defined benefit consolidators, which will occur alongside the work being done by the regulator in this area.
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News
Alternative funding structures attracting 75% of DB sponsors
On the go: As many as three in four defined benefit scheme sponsors could be using contingent funding as an alternative to the traditional deficit recovery contribution route, according to analysis from LCP.
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TPR to test employer resources in contribution regime
On the go: The Department for Work and Pensions has proposed that the Pensions Regulator includes a new employer resources test in its contribution regime, which will be used to determine whether an act or failure to act has occurred.
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OpinionThe future is… consolidation?
Consolidation in the defined contribution market is booming, with master trusts sweeping smaller schemes, but questions remain about who will be the winners, writes PTL’s managing director Richard Butcher.
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TPR: 'Greater need’ for schemes to reconcile data due to Covid-19
On the go: Due to the current pandemic, there is a “greater need” for accurate data reconciliation, according to Louise Sivyer, policy principal at the Pension Regulator’s regulatory policy directorate.
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Suspect in £13.7m pension fraud extradited to UK
On the go: An individual has been extradited from Spain in connection with a £13.7m pension fraud in a criminal case being brought by the Pensions Regulator.
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PodcastsPodcast: Uber decision poses challenges for master trust sector
Podcast: For master trusts, onboarding gig economy workers who could be entitled to a pension following the Supreme Court’s Uber verdict is not as simple as it may sound. Hymans Robertson’s Patrick Bloomfield, partner, and senior DC investment consultant Victoria Panormo unpack the problem, in an episode also covering the Pensions Regulator’s draft criminal powers policy, and the Department for Work and Pensions’ climate risk consultation.
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NewsTPR’s new code of practice has ‘major implications’
The Pensions Regulator’s proposed new code of practice has “major implications” for pension schemes, introducing a raft of new duties and requirements around climate change, stewardship, investment and administration, experts have said.
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NewsTax ‘super-deduction’ could leave DB schemes short-changed
A “super-deduction” introduced in the Budget could see less money available to clear pension deficits, experts have warned, as businesses look to take advantage of the tax break.
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OpinionSeismic shift coming to DB consolidation
Stoneport’s head of covenant, Jacqui Woodward, explains why the UK’s defined benefit sector could suddenly experience an increase in consolidation, similar to that experienced in other countries such as Australia, the Netherlands and Germany.
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News
University employers urge USS to reconsider its valuation outcomes
On the go: Universities UK, which represents 340 Universities Superannuation Scheme employers, has written to the trustees of the scheme urging a rethink of its valuation outcomes.