All Communications articles – Page 5
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People NewsPLSA to expand policy board expertise
On the go: The Pensions and Lifetime Savings Association is looking to expand the range of expertise on its policy board and committees, calling on experts from across the industry to apply for roles.
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NewsHalf of savers lacking interest and engagement with their DB pension
On the go:Only 49 per cent of defined benefit scheme member are concerned about knowing how much their pension could be worth, according to research from the Pension Protection Fund, which has warned of an “acute lack of understanding” by savers.
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NewsFairs: Diversity should make for difficult trustee board discussions
On the go: Increasing diversity and making trustee boards more inclusive will produce longer and more difficult discussions — and that is a good thing, according to David Fairs, executive director of regulatory policy, analysis and advice at the Pensions Regulator.
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NewsPASA looks to avoid statements season ‘capacity crunch’
On the go: The Pensions Administration and Standards Association has published supplemental material on the forthcoming statements season, making a number of recommendations around format and implementation that reflect “considerable concern” in the industry.
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NewsDWP begins engagement over multi-employer CDC schemes
Pensions minister Guy Opperman has confirmed that preliminary work has begun on the creation of multi-employer collective defined contribution schemes, as the Department for Work and Pensions publishes its response to the consultation on single-employer arrangements.
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NewsIndustry concerns remain over anti-scam transfer restrictions
Almost half of schemes have more work to do to comply with new anti-scams transfer guidance, while nearly 10 per cent have “lots of work” to do, an XPS Pensions Group webinar has heard.
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NewsRegulators’ value for money paper branded ‘utopian’ by SPP
On the go: The Society of Pension Professionals has criticised the “utopian” value for money discussion paper published by the Pensions Regulator and the Financial Conduct Authority, arguing that there is “no practical way” of achieving the goals set out.
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NewsLGPS urged to divest from ‘Israeli settlement economy’
Canadian Professor Michael Lynk, who works with the Office of the High Commissioner for Human Rights, has requested that the Local Government Pension Scheme funds divest from any holding that may be linked to contested Israeli settlements.
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NewsCouncil to compensate member after persistently giving incorrect info
South Tyneside Council has been ordered to pay £2,000 in total by the Pensions Ombudsman to a former employee after it incorrectly told him he could defer claiming his pension benefits until age 75.
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NewsStraightforward messages more likely to engage savers than ESG
On the go: Straightforward pension communications, rather than those discussing environmental, social and governance topics, are better at engaging savers who have never logged into their pension account, new research has found.
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NewsUnion ballots for strike action over schools’ exit from Teachers’ scheme
On the go: The National Education Union is balloting its members on industrial action over plans by the Girls’ Day School Trust to exit the Teachers’ Pension Scheme.
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PodcastsPodcast: McCloud costs dispute could damage members’ morale
Podcast: The dispute between doctors, firefighters and the Treasury over who should bear the costs of the McCloud remedy could have implications beyond the directly affected schemes, damaging trust in pensions, and lowering member morale. Hymans Robertson partner Michael Ambery and Quietroom co-founder Mark Scantlebury discuss McCloud, the statements season and the evolution of member communications.
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NewsNine in 10 unsure of their pension entitlements
On the go: Nine in 10 people are unsure of what pension they are entitled to or whether they are receiving any pension contributions, according to new research from financial services comparison site Money.
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NewsThree-quarters of pension savers need more professional advice
On the go: Three-quarters of savers lack the confidence to manage their own pensions and need professional advice, according to a survey from NerdWallet.
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NewsOpperman not rushing CDC, defends statements season
Pensions minister Guy Opperman has confirmed there will be no regulations on multi-employer collective defined contribution schemes before the end of next year, set out targets for Pension Wise uptake, and become embroiled in a spat with former pensions minister Sir Steve Webb over the effectiveness of the proposed “statements season”.
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NewsSimpler statements delayed until October 2022
On the go: The government has decided to delay the introduction of simpler annual benefits statements until October 2022, following industry concerns about the amount of work required to implement them.
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NewsCalls for an inquiry over teachers’ 7-year contributions gap
Councillors have called for an independent inquiry to determine how 14 members of the Teachers’ Pension Agency found they were missing seven years’ pension contributions from their employer.
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NewsTPR urges schemes to get GMP equalisation done
On the go: The Pensions Regulator is urging schemes to engage with their administrators and complete guaranteed minimum pensions equalisation, as there is a sense of urgency for older members.
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PodcastsPodcast: No way to avoid the indexation ‘rules lottery’ as inflation bites
Podcast: High inflation will spur more schemes to look to switch from the retail price index to the consumer price index, but there is still no way around the “rules lottery”. Eversheds Sutherland partner Stuart Earle and Aon partner Lynda Whitney discuss inflation, the botched attempt to raise the normal minimum pension age, and a new value for money framework.
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NewsRegulators propose DC-wide ‘value for money’ framework
The Pensions Regulator and the Financial Conduct Authority will be forcing defined contribution schemes to disclose more data around their investment performance, scheme oversight, and costs and charges, as they unveil a discussion paper looking at creating an “holistic framework” for assessing value for money in this sector.