New data analysis shows that many people the government has claimed are “protected” from changes to salary sacrifice will still lose out when the cap is introduced in 2029, according to LCP’s Steve Webb
Pensions minister Torsten Bell has said the government plans to “strengthen protections and combat any areas of evolving risk”, with areas of focus expected to include transfer regulations.
The House of Lords Economic Affairs Committee has called for the tax payment deadline to be doubled and criticised the government’s tax policy approach.
Audit and actuarial regulator the Financial Reporting Council has issued new technical guidance to help actuaries assess schemes affected by the Virgin Media case.
The Pensions Regulator’s director of policy has called on trustees to engage with the ongoing Value for Money framework consultation to “help shape the standards that will define saver outcomes for years to come”.
Efficiency, expertise and ensuring continuity are the main drivers for employers considering moving to a sole trustee arrangement, according to new research from Independent Governance Group.
Pensions UK and the Governance for Growth Investor Campaign are “disappointed” that the government has shelved plans to raise standards in the audit sector, following several high-profile cases affecting investors.
The Society of Pension Professionals has written to MPs to warn that restricting salary sacrifice for pension contributions is likely to increase costs for employers and employees and reduce levels of pension saving.
The pensions industry has broadly welcomed the new Value for Money approach outlined in this week’s consultation set out by the Financial Conduct Authority.
The regulator has stripped out some data points from its proposed value assessments and put forward a more nuanced four-point rating system for DC providers.
The trade body has warned the government that changing the salary sacrifice rules will create confusion and lead to savers losing out when the plans come into effect in 2029.
Members of the House of Lords have tabled a series of amendments to the Pension Schemes Bill challenging the government’s ‘mandation’ clause, in the latest challenge to the controversial power.