All Department for Work and Pensions (DWP) articles – Page 2
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NewsSmall pots consultation: 'Pot for life' approach seen as long-term solution
The Department for Work and Pensions (DWP) has launched an eight-week consultation after a call for evidence which flagged up a multiple consolidator approach as a possible solution to the issue of deferred small pots.
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NewsLGPS pooling: Consultation will run for 11 weeks
Views on investment 'barriers' are being sought to accelerate to the consolidation of Local Government Pension Scheme (LGPS) assets, the Chancellor has announced.
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NewsUK economy: Hunt to announce wide-reaching reforms as pension providers commit to PE and early stage investments
In his first Mansion House Speech, Chancellor of the Exchequer Jeremy Hunt is expected to unveil plans to create pension ‘super funds’ with the aim of boosting investment in the UK economy.
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NewsMid-life MOT: DWP's online pensions and savings resource goes live
The Department for Work and Pensions has launched its online midlife MOT.
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NewsLifetime allowance changes: Employers urged to offer DC scheme members more support
Employers are being urged to give better support to defined contribution (DC) pensions scheme members who may be affected by the changes to the Lifetime Allowance (LTA) and Money Purchase Annual Allowance (MPAA) announced back in the Spring Budget.
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OpinionTo DC or CDC. That is the question…
DB pensions – and the guaranteed retirement income they bring – are well and truly a thing of the past, with a mere circa 5,000 left in the UK,most of which are closed to new members.
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NewsAEAT Pension Scheme PAC inquiry findings imminent
The House of Commons public accounts committee is expected to publish the findings from its inquiry into the Atomic Energy Agency Technology Pension Scheme (AEAT) later this week.
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NewsDWP data shows the gender pension gap remains at 35%
According to the most recent data (2018 to 2020) issued by the Department for Work & Pensions (DWP) on 5 June 2023, the gender pensions gap (GPeG) in private pensions stands at 35%.
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FeaturesWill DC consolidation present master trusts with crock of gold?
Within a decade, some 15 or more master trusts will have disappeared. Today, 36 players jockey for pole position. What will this huge transition mean for trustees, sponsors, and members, asks Stephane Hawthorne?
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NewsDWP announcement on dashboard programme is imminent
A Department for Work and Pensions (DWP) announcement on the next stage of the delayed pension dashboards programme is expected within days.
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NewsTPR at the root of high levels of industry dissatisfaction over policy direction
More than six in ten (61%) of pension industry respondents are unhappy with the direction of pensions policy over the past six months, according to the latest Pensions Management Institute (PMI) Pulse Survey. That’s an increase of almost 40% (38.6%) compared with last year’s survey.
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NewsDelaying state pension age rise by 7 years will cost £60bn, says IFS
Delaying the planned increase in the state pension age by seven years to 2044-46 from 2037-39 is likely to cost the exchequer more than £60bn, according to the Institute for Fiscal Studies.
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OpinionFAS members still waiting for pensions justice
Twenty-first birthday parties are something to celebrate, unless they mark a tragic event, such as the one that befell the members of the Allied Steel and Wire pension scheme when their employer went bust in 2002.
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NewsGovt delays plans to raise state pension age to 68
Ministers have delayed plans to raise the state pension age to 68 amid falling life expectancy in the UK, according to reports.
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NewsOne in three single mothers ‘locked out’ of pension saving
One in three working single mothers are ineligible for a workplace pension under current auto-enrolment rules, despite more than half (59 per cent) being employed.
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NewsMPs to examine future of DB pension schemes
The Work and Pensions Committee has launched an inquiry that will review defined benefit pension schemes and the challenges they pose to members, trustees, employers and the Pensions Regulator.
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OpinionThe great pensions dashboard reset
The pensions dashboards project is an ambitious attempt to enable savers to be able to find all of the schemes of which they are a member.
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NewsGovernment says 12.5mn people are under-saving for retirement
The Department for Work and Pensions has said that 12.5mn people are under-saving for retirement, prompting providers to call for further pension reforms.
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NewsRegulators fear savers will make ‘wrong decision’ with pensions info
On the go: The Financial Conduct Authority and the Pensions Regulator are worried that giving savers information about how their pension schemes are performing may lead to them making “the wrong decision”.
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NewsLords call for ‘far stricter limits’ on LDI leverage
A committee in the House of Lords has called for “far stricter limits” on leverage in liability-driven investments, which it believes caused the Bank of England intervention, while considering giving the Prudential Regulation Authority a role in schemes’ supervision, due to their “bank-like” strategies.