All The Pensions Regulator (TPR) articles – Page 51
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News
Industry slams lack of detail on regulator's new powers
Plans to reinforce the regulation of defined benefit schemes in the UK lack depth and may not have been able to prevent the pensions scandals that have rocked the industry in recent years, according to industry experts.
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OpinionNew regulator powers will only accelerate DB disappearance
From the blog: The government has floated well-intentioned reforms intended to strengthen the arm of regulators against dodgy bosses, but the proposed changes risk undermining trustees and making further scheme closures more likely.
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OpinionSuperfunds play vital role in the future of DB
For the 11m savers relying on defined benefit pensions for their retirement there has been some much needed good news in recent months.
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News
FRC review threatens to impact actuarial profession
An advisory group to the government review of the Financial Reporting Council is to explore the extent to which actuaries should be subject to formal regulation in response to the pensions-related nature of recent corporate failures.
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OpinionCombating pension scams – It’s good to talk
From the blog: In perhaps an ironic twist last month, Northumbria Police was found guilty of not doing enough to protect one of its officers from the risk of becoming the victim of a pension scam.
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NewsSchemes must play part in war on scams
Pension schemes and providers have been urged to increase member awareness of scam tactics and tighten data security, 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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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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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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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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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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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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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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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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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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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
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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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.