All Department for Work and Pensions (DWP) articles – Page 36
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NewsCost and complexity increase support for multi-employer schemes
The cost and complexity of running a pension scheme is increasing the appeal of multi-employer schemes, experts have said, as a survey shows industry support for government-backed scheme consolidation.
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News
Member-borne commission ban could move costs elsewhere
The Department for Work and Pensions has launched a consultation on draft regulations for banning member-borne commission in auto-enrolment schemes, but experts said costs would still need to be shouldered elsewhere.
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Opinion
Altmann: Many employers going above AE minima as reform beds in
Talking Head: I’d like to start my first column for 2016 by wishing all Pensions Expert readers a happy new year, and updating you on one of this government’s major programmes.
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NewsSiemens issues resolution to prevent trapped surplus
Siemens, one of the world's largest electrical companies, is allowing its defined benefit scheme to make payments to the sponsoring employer, as schemes scramble to maintain their ability to prevent trapped surplus.
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Opinion
Pension Wise: perception and reality
From the blog: Defined contribution investors face risks and challenges both at and in retirement, against the backdrop of the widening UK advice gap and the lack of any reference framework by which to gauge what is feasible and realistic.
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Opinion
The great auto-enrolment review is in train
From the blog: The Public Accounts Committee has launched an inquiry into the risks associated with registering smaller employers for auto-enrolment and how this translates into higher retirement incomes for members.
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News
How schemes can protect their members online
Trustees must be extra vigilant in their assessment of online platforms and review data-handling processes to protect members from the growing threat of cyber crime, experts have said.
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OpinionIncentivising savings – or reducing tax reliefs?
The 'Strengthening the Incentive to Save' consultation, which ended in September, provoked a lot of discussion within the pensions and savings industry and stirred strong feelings.
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Opinion
Altmann: Government needs your help to revise charging model
Talking Head: As pensions minister, I am acutely conscious that the government can have an important role in encouraging people to plan for later and giving people the opportunity to maintain a decent standard of living in retirement.
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News
Pension freedom report: Must do better
A clearer definition of advice and stronger warnings about scams were two of the points raised in the Work and Pensions Committee’s report on pension freedom this week, which has found support across the industry.
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Opinion
How DB schemes can offset end of contracting-out costs
From April 2016 a single-tier state pension will be introduced to replace the existing basic state pension and the earnings-related state second pension.
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NewsCourt rules same-sex pension benefit ceiling to remain
News Analysis: Schemes dodged a potential £3bn cost hike this week, as the legal position on the equalisation of pension benefits for same-sex partners withstood further challenge in the courts.
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NewsFreedom variability distorts member behaviour, FCA study shows
Data from the Financial Conduct Authority has shown drastic changes in how consumers access their pensions since the introduction of the flexibilities, though experts have said difficulty accessing some options may have skewed consumer choices.
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OpinionAltmann: Ramping up our auto-enrolment support for smaller employers
Talking Head: Auto-enrolment moved into a new phase this summer when small and micro firms started to join the workplace pension revolution.
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Opinion
Transaction charges: What? Why? When?
From the blog: Debate about the disclosure of transaction charges has made waves across the pensions industry this year. Will the autumn bring a fresh set of challenges and paperwork for trustees and independent governance committees? Or is it possible to draw answers from information already out there?
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Opinion
Why it is crucial to get a handle on transaction costs
Improved transparency on fees and charges has been an overriding concern for defined contribution and auto-enrolment pension schemes.
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Opinion
More savers, less saving: latest on auto-enrolment
From the blog: Participation in UK workplace pensions has risen over the last decade, with auto-enrolment offsetting a downward trend since its introduction in 2012. However, the flood of new members has also served to dilute contributions in private sector schemes.
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NewsIndustry left reeling by latest pension tax proposals
Summer Budget: Chancellor George Osborne today unveiled a green paper proposing a significant overhaul of the current pensions tax relief system, going beyond what the industry had expected and acting as a harbinger of further radical reform.
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OpinionA five-point plan for a healthier financial future
In my last column, I wrote about the challenge for the new pensions minister in balancing short-term political expediency with truly progressive pensions policy.
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News
Industry seeks remedy for multi-employer s75 headache
Experts have questioned the viability of solutions proposed in response to a government consultation to ease Section 75 debt obligations, the cost of which can potentially trap employersin multi-employer schemes.