All Treasury articles – Page 2
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News
Government reverses course on public sector exit payments
On the go: The government has announced it is to disapply the restriction on public sector exit payments that came into force in November.
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NewsNormal minimum pension age set to increase to 57 in 2028
HM Treasury outlined plans on Thursday confirming the government’s intention to raise the normal minimum pension age from 55 to 57 in April 2028, while devising a “protection regime” that ensures some scheme members retain their current rights.
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NewsJudicial review could hold up public sector exit payment reform
The High Court is to hear challenges brought by a number of public sector unions to the £95,000 exit payment cap, after permission for a judicial review was granted late last year.
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NewsGovt opts for deferred choice underpin solution to McCloud
The government has confirmed it will opt for the deferred choice underpin solution to the McCloud problem, which despite being the right choice according to pensions specialists, will open the floodgates of administration woes for public sector schemes.
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News
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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News
Govt moves to include pensions in dormant assets scheme
On the go: Pensions will be included in the government’s extension of the dormant assets scheme, despite previous concerns that life savings should be excluded due to “significant changes” in recent years.
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News
RPI reform to leave linker owners short-changed from 2030
The government is to press ahead with controversial reforms to the retail price index leaving index-linked gilt holders worse off, but has decided to delay the move until 2030.
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News
Investors keen to play role in green recovery
On the go: Four in five institutional investors predict an increase in their exposure to renewable energy infrastructure in the next five years, according to a new survey.
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News
RPI decision timing ‘risks volatility’
On the go: The long-awaited outcome of a consultation on replacing the retail price index of inflation is set to be published on November 25, but investors have warned that the government’s timing risks violent market reactions.
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News
UK to issue first green gilts in 2021
On the go: The UK government is to issue its first green sovereign bond in 2021, alongside tough new measures on sustainability reporting for companies.
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PodcastsPodcast: Regulatory uncertainty puts workforce reform at risk
Podcast:The apparent contradiction between the Treasury’s new exit payment cap and existing Local Government Pension Scheme regulations risks limiting employers’ ability to restructure their workforce, warns Alison Murray, partner and head of public sector actuarial at Aon. She is joined by Linklaters counsel Anna Taylor, in a conversation also covering a new responsible investment bill and a proposed solution to the Section 75 problem.
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News
LGPS could face legal challenges over new exit payment cap
Local Government Pension Scheme administrators face potential legal challenges, after a new cap on exit payments from public sector schemes contradicting existing regulations came into force on Wednesday.
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News
Experts pour scorn on ‘pensions as deposit’ suggestion
On the go: The pensions minister’s appeal for suggested schemes that would let young savers use their retirement savings to help them on to the property ladder has been criticised as ignorant of the laws of supply and demand by pensions commentators.
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News
Police officers warn of age discrimination in McCloud remedy
The government’s proposed remedy for the McCloud/Sargeant age discrimination cases fails to address the issue in a “fair and non-discriminatory manner”, a group of police officers has warned.
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OpinionHow should pension funds apply ESG to derivatives?
Environmental, social and governance risk mitigation has become a mainstream feature of institutional investment, yet the integration of ESG has not been applied equally across portfolios.
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News
Covid-19 adds £10bn to inflation woes
As the government’s consultation to make changes to the retail price index draws to a close, the impact of aligning the inflation measure with the consumer price index including housing costs has increased by £10bn due to the pandemic.
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News
Warnings of 20% member losses as RPI consultation closes
On the go: Investment managers have demanded that the government compensates clients for losses they will suffer if the retail price index is downgraded, as a consultation on changes to the outdated inflation measure closes.
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NewsGovernment ponders solutions to £17bn McCloud problem
The Treasury has set out two proposals for ending the discrimination between scheme members that resulted from its 2015 public sector pension reforms, with costs of unwinding its scheme changes estimated to cost £17bn.
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News
Chancellor spares pensions tax relief and triple lock for now
On the go: Pensions tax relief and the triple lock have once again been spared by the chancellor of the exchequer, although changes to these costly policies are expected down the line.
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News
Music charity leaves Teachers’ scheme to offer benefits symphony
A hike in employer pension contributions has prompted a Birmingham-based charity to leave the Teachers’ Pension Scheme, using the savings from that decision to extend its benefits offering.