All The Pensions Regulator (TPR) articles – Page 36
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News
One in five sponsors considering deficit holidays
On the go: Almost a fifth of UK defined benefit scheme sponsors have requested or are considering a deficit repayment contribution holiday, according to research from Isio.
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Regulator to be empowered by expansion of ‘snoopers’ charter’
The Pensions Regulator is to be given new powers including the right to harvest communications data, in order to prevent “serious crime”, according to draft legislation published last month.
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Falling support for TPR’s new funding regime
On the go: Support for the Pensions Regulator’s vaunted new defined benefit funding regime may be falling, according to a report by Aon.
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PodcastsPodcast: McClymont - UK still has far too many master trusts
Podcast: The UK master trust market is still lacking the scale needed to provide the best outcomes for members, argues Gregg McClymont, director of policy at The People’s Pension. He and Pat Sharman, managing director at Caceis, discuss concerns from the Pensions Regulator regarding the investment strategies pursued by some of the UK’s authorised master trusts, among other topics.
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ITV scheme trustees approve deficit repayment holiday
On the go: The trustees of ITV’s defined benefit schemes have agreed to a deficit repayment contribution delay, amid action from the broadcaster to mitigate the impact of Covid-19.
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Ombudsman sides with Aegon on transfer to 'bogus' pension scheme
On the go: The Pensions Ombudsman has ruled that Aegon did not fail in its duty of care when allowing a member to transfer his savings to a “bogus employer”, once again emphasising that trustees would not be held responsible for certain historic cases of fraud.
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Nest member waits two years to recover £80 in missed contributions
The Pensions Ombudsman has finally brought to a close a woman’s two year hunt for £80 in missed contributions from her employer.
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PS Aspire pulls out of master trust market
On the go: Punter Southall Aspire has withdrawn its master trust from the market after concluding that it was unlikely to reach the necessary scale.
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OpinionRegulator striking the right balance on deficit holidays
Coronavirus is turning the world upside down for pension trustees. Prior to the crisis, trustees were being pushed to take a tougher line by demanding employers plough more cash into their defined benefit plans.
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Pensions Regulator names new auto-enrolment director
On the go: The Pensions Regulator has appointed Mel Charles as director of automatic enrolment, following the departure of Darren Ryder earlier this year.
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Regulator concerned by master trust investments weaknesses
Investment strategies pursued by some of the UK’s authorised master trusts are exposing pension scheme savers to unnecessary risks, according to the Pensions Regulator.
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FeaturesDoes lockdown shift leave pensions exposed to cyber crime?
Analysis: Covid-19 is not the only invisible threat looming over some of the UK’s most vulnerable citizens.
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TPR signals renewed focus on sponsor affordability
The Pensions Regulator has directed defined benefit trustees to focus on the affordability of payments into their schemes by sponsoring employers, urging collaboration to link business recovery to increased member security.
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Schemes to issue pension transfer warning to savers
On the go: Pension scheme trustees are to warn members about the risks of transferring out of their defined benefit scheme amid the Covid-19 crisis.
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Mercer calls for six-month DB contribution holiday
The government has been called on to take “urgent action” and implement a six-month contribution holiday for defined benefit pension schemes, in a bid to allow sponsors to keep their businesses afloat.
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Suspended deficit contributions could reach £1bn
On the go: Up to £1bn in deficit contributions could be suspended this year as trustees approve payment holidays in a bid to help sponsors survive the Covid-19 crisis.
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PodcastsPodcast: Trustees cautioned to be vigilant about relaxed rules
Podcast: Trustees should not take advantage of easements introduced by the Pensions Regulator, which has relaxed its enforcement rules and reporting guidelines, warns John Reeve, director at Cosan Consulting. He and Kate Smith, head of pensions at Aegon, discuss the recent changes to the pensions industry brought by the Covid-19 pandemic, alongside other issues.
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TPR clarifies treatment of salary sacrifice under furlough
On the go: The Pensions Regulator has issued guidance to large employers stating they must continue to pay furloughed workers’ pension contributions as normal where they have entered into a salary sacrifice arrangement.
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Multibillion pension sponsors among vulnerable to demand shock
Sponsors of some of the UK’s largest defined benefit pension schemes are among those exposed to a potentially unsustainable level of debt if their cash flows dry up, new analysis has suggested.
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Counsell: Industry must ‘step up and protect savers’
On the go: Pension providers and trustees “must step up and protect savers using every possible means”, as the vulnerability of individuals to scams has increased due to the coronavirus pandemic, the Pensions Regulator chief executive has warned.