All The Pensions Regulator (TPR) articles – Page 51
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OpinionSelect committee’s new inquiry misses the point
From the blog: It is bizarre that the Work and Pensions Committee is questioning whether people understand the cost and value for money of their pension products when the Financial Conduct Authority has only just published research that answers their question.
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News
Scam victims lose £91,000 on average
On the go: The Pensions Regulator and the Financial Conduct Authority have launched a joint media campaign to combat pension scams, amid the revelation that average losses from fraudulent and inappropriate inducements eclipsed the size of the average pension pot in the UK.
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Features
Automation improves insurer scheme admin but work still to do
The Royal Insurance Group Pension Scheme has reported a “considerable improvement in service” from administrator Willis Towers Watson, after two years of problems that have hurt the scheme’s ability to service transfer requests.
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News
Regulator charges third party for supplying false information
The Pensions Regulator is prosecuting an accountant for falsely claiming that the business he was working for had enrolled its staff into an occupational pension. It is the first time that the regulator has charged a third party for this offence.
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NewsOmbudsman’s police ruling highlights trustee duty of care
The Pensions Ombudsman has upheld a police officer’s complaint that Northumbria Police transferred his pension to a new scheme without having conducted adequate checks or provided him with sufficient warning about scams.
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OpinionWhat the regulator’s corporate plan means for pensions administration
Trafalgar House’s Michael de Souza explains what the Pensions Regulator’s corporate plan for 2018-2021 means for pensions administration.
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FeaturesSouth Yorkshire builds dashboard to remedy data backlog
The South Yorkshire Pensions Authority has developed a dashboard to help monitor information as part of a development plan to solve its longstanding data woes.
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OpinionTrustees must take valuation deadlines seriously
Agreeing a triennial valuation is a key priority for the trustee of a defined benefit scheme and its sponsoring employer. It allows the Pensions Regulator to check the health of a scheme and its ability to provide members with their expected retirement benefits.
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News
Brewery fined for refusing to share information with TPR
Samuel Smith Brewery and its chairman must pay fines of almost £28,000 for failing to hand over to the Pensions Regulator requested information relating to its defined benefit schemes, Brighton Magistrates Court ruled on Monday.
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FeaturesBT’s 'sleight of hand' bond gift slashes accounting deficit
BT’s defined benefit scheme has seen its accounting deficit drop by £1.8bn over the past quarter after investing in the bonds of its own sponsor, but some experts have questioned whether the move has any meaningful impact on member security.
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OpinionHow to cope with increasing regulatory burdens
From the blog: Good governance is the bedrock of a properly functioning trustee board. However, it is evident that trustees are struggling under a governance burden, which stems from the need to comply with increasing legal requirements and ever more Pensions Regulator publications.
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News
Communications essential as cold-calling ban takes step forward
The Department for Work and Pensions has taken a further step towards implementing a ban on cold calls related to pensions, but experts have cautioned that the delayed measure will not be sufficient on its own to stamp out scams.
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NewsMandatory tenders welcomed by pensions industry
UK pension schemes will be required to conduct competitive tender processes before hiring their first fiduciary manager, under recommendations set out by the Competition and Markets Authority on Wednesday.
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News
CMA wants mandatory tendering to tackle competition weaknesses
On the go: UK pension schemes will be required to conduct competitive tender processes before hiring their first fiduciary manager, under recommendations set out by the Competition and Markets Authority on Wednesday.
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OpinionIncreasing TPR powers vital to protect DB schemes
From the blog: The white paper on protecting defined benefit schemes will go under the spotlight on Wednesday with both the Pensions Regulator and pensions minister giving oral evidence to the Work and Pensions Committee as part of its inquiry.
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OpinionWhat the DWP’s new DB funding code could mean for trustees
The Pensions Management Institute’s Lorraine Harper discusses the revised regime for scheme funding set out in the Department for Work and Pensions’ white paper on defined benefit pension schemes, published earlier this year.
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Opinion
Review: Look Where You’re Going – The Life of Alan Pickering
Perhaps a professional trustee is an unlikely candidate for a published biography. But Paddy Briggs’ 'Look Where You’re Going', provides a fascinating insight into the remarkable life of Alan Pickering CBE.
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News
Pension SuperFund asset mix will borrow from PPF
The chief executive officer of The Pension SuperFund has said the fledgling defined benefit scheme consolidator's asset allocation is likely to resemble that of the Pension Protection Fund.
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NewsRentokil blames internal administration for £25k fine
Business services group Rentokil Initial has blamed its internal pensions administration for failures involving the Initial Hospital Service Limited No.1 Pension Scheme, which led to a £25,000 fine from the Pensions Regulator.
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NewsLuxfer Group offers IFA to deferred members
Global materials technology company Luxfer Group has launched an exercise offering deferred members of its defined benefit scheme the opportunity to discuss their benefit options with an independent financial adviser.