All Costs and charges articles – Page 4
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NewsHymans Robertson calls for AE credits to tackle gender gap
Hymans Robertson has called for the creation of auto-enrolment credits in a bid to tackle the gender pensions gap, which would see the government paying pension contributions for people taking career breaks.
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NewsITV hit with £133mn warning notice by TPR
The Pensions Regulator has slapped a £133mn warning notice on broadcaster ITV after it failed to provide adequate support to the Box Clever pension scheme by the regulator’s deadline.
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NewsNo AE reform, but Queen’s Speech measures spark protests
There was no mention of automatic enrolment reform in the Queen’s Speech, but bills around local boycotts, online safety and a revamped audit and reporting framework will all impact the industry, experts have said.
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NewsScheme costs ‘could increase’ under plans to promote illiquids in DC
The Department for Work and Pensions’ plans to promote investment in illiquid assets could end up increasing costs for members and raise the regulatory burden on schemes without improving retirement outcomes, consultants have warned.
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NewsMcCloud sees more public sector schemes breach cost-cap ceiling
Three more public sector schemes have breached the cost-control mechanism as a result of the McCloud remedy, the Government Actuary’s Department has confirmed.
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NewsElectricity pensioners launch campaign amid inflation fears
The Association of Electricity Supply Pensioners has launched a campaign to protect the benefits of more than 100,000 members of the Electricity Supply Pension Scheme, amid fears that pension increases that do not match inflation could amount to significant losses.
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NewsPodcast: ‘Pot follows member’ legislation needed to solve small pots problem
Podcast: Industry consensus is needed to support a ‘pot follows member’ solution to the small pots problem, with previous attempts to solve it having failed, says Henry Tapper, executive chair of AgeWage. He is joined by Tom McPhail, director of public affairs at the Lang Cat, to discuss small pots, commercial consolidators, and more McCloud woe for the Local Government Pension Scheme.
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NewsPolice Scotland warned of staff exodus after pension changes
Police Scotland is reportedly facing a staff exodus after changes to pension lump sum rules led 1,800 staff to query the size of the figure they will receive under the new system, with 400 having already decided to leave the service.
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NewsMcCloud remedy causes three of four schemes to breach cost cap
The Government Actuary’s Department has published the cost cap valuations of four public sector schemes, confirming that the cost of implementing the McCloud remedy has led to a breach of the cost control mechanism, cancelling previously-agreed benefits increases.
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NewsGMP guidance ‘helpful’ but ‘could have gone further’ on conversion
The government’s supplementary guidance on guaranteed minimum pensions equalisation was broadly welcomed by the industry as it could save trustees “time and money”, but some have cautioned that the section on conversion will make little difference without legislation.
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NewsHMRC to address GMP conversion tax issues ‘in the coming weeks’
The government has promised supplementary guidance on guaranteed minimum pensions conversion “in the coming weeks” and confirmed it is working on legislative changes, as the debate on the second reading of the pension schemes (conversion of GMPs) bill concludes in the House of Lords.
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NewsUCU calls for an end to USS cuts in light of improved finances
On the go: The University and College Union has called on employers to reverse plans for what it called “brutal cuts” to staff pensions, in light of a “drastic improvement” in Universities Superannuation Scheme finances.
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NewsCharge cap proposals criticised as govt launches illiquids consultation
The government has said it will “take time to consider” industry concerns around its proposals to exclude performance fees from the charge cap, and has launched a combined consultation into other ways in which to encourage defined contribution schemes to invest in illiquid assets.
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NewsLabour accuses government of undermining pensions ‘consensus’
On the go: Labour’s shadow secretary of state for work and pensions, Jonathan Ashworth, has accused the government of breaking with pensions “consensus” and undermining workers’ protection with its planned pension reforms.
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NewsPensions industry in dire need of 'real' fee transparency
On the go: Asset managers charging lower fees for global active equity funds often deliver better value for money, but the fees collected differ greatly from those presented in the public domain, according to a report from ClearGlass Analytics.
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NewsRegulator's notifiable events regime could be delayed
On the go: Industry commentators are asking whether the Pensions Regulator’s new notifiable events regime might be delayed, as the government has yet to respond to last year’s consultation into the expansion of the regulator’s powers.
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NewsOpperman calls for industry input on CDC expansion
On the go: Pensions minister Guy Opperman has called on the industry to work with government on expanding the nascent collective defined contribution market, though experts have previously warned that draft regulations are too strict to allow for real growth in the sector.
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OpinionBuilding portfolio resilience: Should schemes consider hedge funds?
While 2021 was another strong year for the equity and bond markets, the road ahead looks far less rosy and more uncertain.
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NewsUCU calls for staff welfare inquiry as two-thirds consider quitting
On the go: Two-thirds of university staff could quit the higher education sector altogether over mounting dissatisfaction with pay, pensions and working conditions, the University and College Union has warned, as it calls for the Education Select Committee to set up an inquiry into staff welfare.
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NewsRegulator’s CDC plans risk strangling the sector at its birth
The Pensions Regulator’s draft code of practice for collective defined contribution schemes is unnecessarily strict and risks severely hampering growth in the sector, industry bodies have warned.