All Law & regulation articles – Page 131
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News
BBC to lay on financial advice for members looking at transfers
The BBC is to offer paid-for independent financial advice to help members get the most from the pension freedoms, in particular to support those considering transferring their assets.
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News
Regulator releases further covenant guidance
The Pensions Regulator has issued new guidance on assessing employer covenants aimed at preventing smaller or highly funded schemes from wasting time and money on costly advice.
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NewsIORP amendment threatens pot-follows-member
A draft report from the European Parliament committee on economic and monetary affairs has threatened the possibility of pot-follows-member legislation being introduced, lawyers have warned.
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News
Out of reach: How can we close the trustee skills gap?
Any Other Business: If you’re reading this as a trustee and wondering why so many questions are being asked about the future of the role, chances are you’re among the fraction receiving ongoing formal training.
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News
High-earner tax relief threat poses new challenge for employers
News analysis: Scrapping tax breaks for high earners could present a communication challenge for trustees, as the government weighs up ideas for potentially radical reforms of the current pension tax relief system.
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News
EU banking directive brings risks to schemes' derivative contracts
Schemes with liability-driven investment strategies should review counterparty creditworthiness, say lawyers, as a new EU directive has granted national authorities the power to suspend schemes’ contractual rights with struggling banks.
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NewsFCA pays out £200,000 after benefit error
The Financial Conduct Authority has paid £200,000 to members of its own staff scheme after discovering benefit calculation errors affecting more than 1,200 employees.
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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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NewsTUC calls for same-sex parity on survivor pensions
One in four defined benefit schemes do not treat same-sex and opposite-sex couples equally on survivor benefits and the TUC is pressing government to close the gap, which could cost around £3.3bn.
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NewsFindel forks out £2.3m to repair equalisation error
Findel Group Pension Scheme has paid more than £2.3m in past-service costs to make good an error in which a member benefit equalisation exercise was implemented incorrectly.
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News
New peak for pension saving, focus turns to adequacy
Scheme membership has reached fresh highs among the UK population but industry experts are calling for greater government intervention to boost contributions and to stop individuals falling through the cracks.
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News
Is your scheme safe from latent liabilities?
Any Other Business: In February 2002, the US secretary of defence Donald Rumsfeld gave his now-famous response to a question about the lack of evidence linking the Iraqi government to the supply of weapons of mass destruction.
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News
Employers await further guidance on scheme VAT rules
Employers will be hoping to benefit from VAT rebates on scheme services following HM Revenue and Customs’ latest guidance note, but pension lawyers have said further detail is needed on how to recover the tax.
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NewsIndustry poised for pensions surprises in emergency Budget
Analysis: Industry experts anticipate further changes to pensions in the emergency Budget and have expressed concerns over the longer-term impact on the UK’s retirement savings culture.
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News
Regulator fleshes out compliance approach to public sector
The Pensions Regulator has released details of its compliance and enforcement policy for public service schemes, after taking on oversight of more than 200 plans from April.
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Features
Should pro trustees on scheme boards be mandatory?
Any Other Business: The Institutions for Occupational Retirement Provisions II directive is set to be implemented across UK occupational schemes by the end of 2016, but what might the final version bring for trustee boards?
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News
Regulator issues third contribution notice for CWL fund
The Pensions Regulator has issued a contribution notice to an individual in relation to the Carrington Wire pension scheme, but experts warn the amounts recouped will not match the benefits previously promised to members.
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OpinionHow seriously is your scheme taking a possible Brexit?
Any Other Business: The Bank of England last week came under scrutiny after details were leaked of a secret study on the financial impact of a decision to leave the European Union.
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News
Is 55 too young to cash in a DC pension?
The age at which members can access their pension pots should be increased, according to a white paper, but some experts say those in ill health should not be held back from drawing their cash.
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News
Solvency scrutiny rumbles on in Europe with stress-testing
The resilience of UK pension schemes will be put to the test over coming months as the European pensions authority pursues its solvency and disclosure programme, though some have questioned who will bear the costs.