All Department for Work and Pensions (DWP) articles – Page 9
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NewsFCA says dashboards will increase advice ‘value for money’
On the go: The Financial Conduct Authority has said the pensions dashboards will increase competition in the advice profession and offer consumers better value for money.
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NewsOpperman fires back over universal DC charging structure
Pensions minister Guy Opperman stood his ground over the government’s expected move to introduce a single flat charge for defined contribution workplace pensions, after master trust providers criticised the proposal earlier in the week.
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NewsThe People’s Pension slams single flat charge proposal
Savers could lose thousands of pounds from their pension pots if the government proceeds with its expected plan to introduce a single flat charge for workplace pensions, according to one master trust.
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NewsCall for evidence on state pension age changes as costs mount
On the go: The independent review of the state pension age has published a call for evidence seeking views on the fairness, sustainability and affordability of the system.
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NewsGovt keeps AE earnings trigger despite calls to scrap it
On the go: The government has opted to keep the earnings trigger for auto-enrolment at £10,000 for 2022-23, despite some in the industry calling for it to be scrapped to bring in more low earners.
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NewsThe metrics of a sustainable future
As the pivot towards net zero intensifies, the need for schemes to assess sustainable investment opportunities through data and metrics is rapidly growing in importance.
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NewsGovt to consult on ‘levelling up’ LGPS targets in summer
On the go: The Department for Levelling Up, Housing and Communities is expected to consult on the new requirement for Local Government Pension Scheme funds to set out plans for investing up to 5 per cent of their assets in domestic projects, the LGPS Scheme Advisory Board has said.
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NewsOpperman defends change to ombudsman appointment criteria
On the go: Pensions minister Guy Opperman has defended changes to the appointment criteria for the Pensions Ombudsman, after the last recruitment attempt failed to attract a suitable candidate.
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NewsLGPS funds question government’s ‘levelling up’ investment target
A handful of Local Government Pension Scheme funds and a former pensions minister are unconvinced by the government’s new requirement for these schemes to set out plans for investing up to 5 per cent of their assets in domestic projects, as trustees’ fiduciary responsibilities could come under threat.
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News‘No legal basis’ for interest payments on FAS compensation
On the go: Pensions minister Guy Opperman has sought to explain discrepancies in compensation payments between the Pension Protection Fund and the Financial Assistance Scheme arising from the Hampshire ruling, detailing that there is no legal basis for paying interest on arrears in the FAS.
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NewsNow Pensions calls for AE earnings trigger to be scrapped
On the go: Workplace pension provider Now Pensions has called for an urgent policy change to remove the auto-enrolment earnings trigger to bring more people into pension saving.
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NewsGovernment sets 5% target for LGPS investment in local areas
On the go: Local Government Pension Scheme funds have been asked by the government to set out plans for investing up to 5 per cent of their assets in projects that support local areas, according to the new ‘Levelling up’ white paper.
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NewsNew emissions template launched, savers demand green pensions
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with the launch of a new carbon emissions template for pension schemes, and a new study highlighting savers’ demand for green pensions.
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NewsMaps signs ID verification deal for dashboards programme
On the go: The Money and Pensions Service has signed a £1.8m deal with Dutch outfit Digidentity to provide an identity service for its Pensions Dashboards Programme.
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NewsTPR to publish new CDC code before the end of January
The Pensions Regulator will be consulting on a new code of practice for the authorisation and supervision of collective defined contribution pension schemes before the end of January, chief executive Charles Counsell has revealed.
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NewsMPs warn of further state pension errors in scathing report
The Public Accounts Committee is calling for the government’s state pension payment system to be overhauled and underpayments to be treated more seriously, while warning that other errors could still be unidentified.
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NewsTimms questions compensation cap on Financial Assistance Scheme
On the go: Stephen Timms MP, chair of the Work and Pensions Committee, has written to pensions minister Guy Opperman seeking clarity over the compensation cap placed on the Financial Assistance Scheme.
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NewsPension ages need a rethink as life expectancy falls
On the go: The government should rethink its plans to increase the state pension age as life expectancy estimates show a further decline, according to a former pensions minister.
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NewsPMI warns majority of savers will be caught out by pension age rise
On the go: The majority of people impacted by the rise in the normal minimum pension age are unaware it is happening, the Pensions Management Institute has warned.
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NewsWebb calls on govt to delay increase in state pension age
On the go: The government’s plans to increase the state pension age from 66 should be delayed because we are not living as long as previously expected, according to research.