All The Pensions Regulator (TPR) articles – Page 30
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News
Schemes still lagging in fight against cyber crime
On the go: Three in five schemes now have a cyber strategy and 75 per cent of trustees have some degree of training on cyber risks, according to Aon’s most recent cyber scorecard.
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TPR pledges guidance after royal assent for Pension Schemes Act
On the go: The Pensions Regulator welcomed the Pension Schemes Act receiving royal assent on Thursday, with chief executive Charles Counsell looking forward to the “strong package of measures” it provides and pledging guidance for how they will be used.
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NewsTPR: Valuations until March 2022 done under current funding regime
Pension schemes with scheme valuations until the end of the first quarter of next year do not need to worry about the Pensions Regulator’s new defined benefit funding code, David Fairs has revealed.
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PodcastsPodcast: Tackling climate change will require a ‘step change’ in governance
Podcast: The government’s “revolutionary” plans to tackle climate change “ain’t half prescriptive” when it comes to pensions investments, and will require a “step change” in governance to achieve. So say Stuart O’Brien, partner at Sackers, and ITS director Tegs Harding, who also discuss the consequences of another row at the Universities Superannuation Scheme and the cartelisation of the advisory market.
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TPR urges DC schemes to pay more attention to climate change
On the go: The Pensions Regulator has warned the defined contribution market must pay more attention to both the risks and opportunities of climate change in investment strategies.
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News
Master trust competition hots up despite consolidation
Data crunch: The majority of master trusts are targeting defined contribution schemes in a bid to boost their assets under management, leading to heightened competition in a marketplace where there is scepticism about acquiring rivals.
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News
Guide launched to assess investment consultants’ climate competence
On the go: The Investment Consultants Sustainability Working Group has launched a guide to help trustees in assessing their investment consultants on climate competency.
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DWP proceeds with ‘revolutionary’ climate change agenda
The Department for Work and Pensions has proposed broadening the scope of climate risk analysis to cover not just the environmental impact of pension schemes’ portfolios, but also sponsor covenants and actuarial valuations.
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Opperman calls for HMRC to participate in scams task force
On the go: The minister for pensions and financial inclusion, Guy Opperman, has said he would like to see HM Revenue & Customs have a more active participation in combating pension scams.
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Warning over TPR’s guidance on delayed transfer deadlines
On the go: The Pensions Regulator has released guidance warning that trustees need to comply with the six-month transfer deadline even if the member is invested in a gated fund.
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News
Thousands warn of ‘unjustified’ USS discount rate rises
More than 3,000 people have written to the trustees of the Universities Superannuation Scheme to criticise proposed changes to the valuation methodology that, they say, will result in its members and employers being overcharged by the scheme.
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TPR under pressure to ‘show teeth’ after corporate failures
On the go: The Pensions Regulator will come under pressure from the industry to “show its teeth” when dealing with the recent Arcadia failure and ensuring the best outcome for members, Royal London has warned.
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NewsUSS at risk of missing 2020 valuation deadline
The Universities Superannuation Scheme is at risk of missing the statutory deadline for its 2020 valuation, according to its chief executive, Bill Galvin.
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Clarity on dashboards, but delays taint Pension Schemes Act
The government fought off opposition amendments to the Pension Schemes Act in the House of Lords on Tuesday, keeping its dashboards options open — but experts have warned that many of the act’s more substantive changes could be delayed until 2022.
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PodcastsPodcast: New powers in Pension Schemes Act could cause bankruptcies
Podcast: New criminal provisions in the Pension Schemes Act are so broadly drafted that they could strangle legitimate business activity, potentially resulting in unnecessary bankruptcies. So says Arc Pensions Law partner Jane Kola, who, along with Society of Pension Professionals president James Riley, warn about the potentially dire consequences and call for more clarity from the regulator. More cheerfully, this inauguration day episode also covers the future of actuaries, small pots, and Donald Trump’s pension.
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News
New pensions act offences have ‘far-reaching consequences’, LCP warns
On the go: New powers granted to the Pensions Regulator by the Pension Schemes Act could see directors, lenders and trustees made criminally liable for their mistakes, LCP has warned.
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NewsNew DB funding code could be delayed until 2022
The Pensions Regulator has issued an interim response that experts say could presage meaningful changes to the final version of the defined benefit funding code, which is likely to be delayed until 2022.
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OpinionTrustees must take action to prevent admin operational issues
Cosan Consulting director Philip Dickinson warns trustees about the importance of having an administration contingency plan in place as this task, either performed in-house or outsourced, could suffer with the current pandemic and financial crisis.
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Opperman guarantees none of TPR’s new powers will be retrospective
On the go: The minister for pensions and financial inclusion has guaranteed that the Pensions Regulator’s new criminal sanctions and information-gathering powers will not be applied retrospectively.
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PodcastsPodcast: Economic uncertainty, DC consolidation, ESG to mark 2021
Podcast: Economic uncertainty from the pandemic and the aftereffects of Brexit, solving the small pots problem and consolidation in the defined contribution universe, and yet more environmental, social and governance regulation are the themes to watch out for this year. These are the predictions for the pensions industry in 2021 from Marc Hommel, senior pensions adviser at EY-Parthenon, and Sue Pemberton, head of technology and DC consulting at Premier Pensions.