All The Pensions Regulator (TPR) articles – Page 30
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News
Punter Southall revives multi-employer concept in consolidator
As consolidation offers multiply in the defined benefit market and superfunds wait for their first transactions, Punter Southall is proposing a revival of the multi-employer concept for smaller schemes, which could bring their sponsors savings of 80 per cent.
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TPR eyes pivot to ‘Generation DC’
On the go: The Pensions Regulator has set out long-term priorities for the next 15 years, envisaging a shift in focus towards ensuring the financial wellbeing of defined contribution savers.
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OpinionReducing business risk from data breaches
Pension schemes are improving their security against cyber crime, but it is in human mistakes that data shows significant business risk lies, argues Anthony Rafferty of Origo.
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OpinionSmaller schemes could benefit from ‘fast-track lite’ option
Isio partner Mike Smedley warns that smaller schemes will have trouble in complying with the Pensions Regulator’s fast-track funding approach, and while they will not be able to afford the bespoke route either, he proposes a third solution for these pension funds.
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NewsPPF eyes deteriorating credit ratings among DB sponsors
Deteriorating defined benefit sponsor health has led to a three-fold increase in the level of liabilities belonging to schemes that could end up in the Pension Protection Fund over the next 18 months.
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Statutory pension transfer rights pause becomes bill amendment
A new amendment restricting the statutory right to a transfer is to be tabled to the pension schemes bill, in an attempt to combat pension scammers.
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TPR warns trustees ‘can’t duck’ from climate change
On the go: As new reporting requirements on environmental, social and governance considerations come into force, the Pensions Regulator has warned trustees to build capacity in this area as climate change is a fundamental consideration for schemes.
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News
TPR investigates DRC holiday abuse
On the go: The Pensions Regulator is investigating a number of companies’ pension schemes for allegedly taking advantage of a relaxation in the deficit repayment contribution rules due to the pandemic.
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OpinionNot-for-profit sector schemes should consider more specialist approach
Buck’s Vishal Makkar on how the not-for-profit sector’s idiosyncrasies demand a specialist approach to pension funding and investment.
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News
New job support scheme risks increasing AE confusion
On the go: The new job support scheme announced by the government on Thursday will increase the risk of employers miscalculating pension contributions for employees, a law firm has warned.
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News
TPR’s new guidance on mandatory AE reporting causes confusion
Updated guidance from the Pensions Regulator will see the 90-day limit for reporting late payments becoming mandatory from April 2021. However, the wording of the guidance has caused some confusion, with schemes being asked to make the adjustment for January 1.
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News
Smaller schemes to prove value for members or face consolidation
Defined contribution schemes with assets below £100m will have to prove their value for members, or face being advised to wind up or consolidate, according to new rules proposed by the Department for Work and Pensions.
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Rail sector pension plan staring down £15bn black hole
On the go: The largest pension scheme serving the UK’s rail sector is standing on the event horizon of a £15bn black hole created by changes to its funding rules, the Financial Times has reported.
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News
Calls for govt to change transfer rights to halt scams
Pension regulators should be given the power to override people’s statutory right to transfer should a suspected scam be reported to them, according to a think tank.
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PodcastsPodcast: DB schemes could be ‘doomed to failure’ by new funding code
Podcast: Defined benefit schemes could be “doomed to failure by measures that are designed to help them”, says Baroness Ros Altmann of the proposed new funding code. She is joined by SEI’s client strategy director Alistair Jones to discuss that issue, as well as the challenges faced by master trusts, and the increasingly bizarre McCloud remedy that, though intended to tackle age discrimination, has been accused of age discrimination.
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NewsPlumbing scheme announces independent governance review
The Plumbing & Mechanical Services (UK) Industry Pension Scheme is to carry out an independent review of its governance structures, after sustained criticism from the scheme's small employers and a court case over its handling of orphan liabilities.
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TPR looks to reclaim £250,000 from fraudster
On the go: The Pensions Regulator has announced it is attempting to recoup £250,000 from a convicted fraudster.
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OpinionTPR sets dangerous precedent with AE breathing space
The pandemic has prompted some jaw-dropping actions from both government and regulators.
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News
DB transfer values rocket to £500k
On the go: The number of defined benefit transfer requests has dropped in the past quarter, but the average value still rocketed to above £500,000.
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Industry unmoved by regulator’s DB funding arguments
The introduction of a twin-track approach to regulating defined benefit scheme funding could stifle the creativity needed to navigate the current financial crisis, experts have warned.