All Law & regulation articles – Page 47
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NewsNearly half of savers in the dark when switching pension providers
On the go: More than four in 10 pension holders surveyed by B&CE said they would not know what to look for when switching pension providers.
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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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NewsDB schemes’ health reaches record high
On the go: The health of UK defined benefit pension schemes edged upwards to a record high at the end of last year, according to Legal & General Investment Management.
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NewsPLSA urges ‘levelling up’ of employer contributions to 5 per cent
On the go: The Pensions and Lifetime Savings Association has called for an increase in employer contributions and an extension of auto-enrolment over the next decade, as part of a submission to the Work and Pensions Select Committee.
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NewsEmployers look to modify USS proposals in light of inflation
On the go: Universities UK, the group representing 340 employers in the Universities Superannuation Scheme, has proposed temporarily removing a cap on inflationary increases proposed as part of its solution to the scheme’s controversial 2020 valuation, following member concerns.
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NewsPrudential reports itself to regulator over AVC failings
Prudential reported itself last year to the Pensions Regulator, as a perfect storm of IT problems and coronavirus-led disruption pushed customers looking to cash out their additional voluntary contributions into long delays.
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NewsAlternative assets could give DC higher returns with no extra risk
Alternative assets could present defined contribution schemes with a means to increase value for members without taking on any extra risk, according to a new report from the Pensions Policy Institute.
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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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NewsOmicron drives interest rate and inflation hedging in Q4
On the go: Interest rate liability hedging activity surged by more than a quarter in the last three months of 2021, according to new data from BMO Global Asset Management, a jump which the asset manager attributed to Omicron-driven pessimism about the economy.
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NewsHow pension schemes can help the UK meet its sustainability goals
Tackling climate change is high on the agenda for pension scheme trustees, and with COP26 only recent history, taking action has never felt more pressing. However, trustees must be careful to balance this with generating investment returns.
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NewsThink tank warns old DC schemes can erode member benefits
On the go: Members could be suffering poor value for money and seeing their benefits erode by not moving their pensions out of old defined contribution pots, the Institute for Fiscal Studies has warned.
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NewsDWP reveals lack of applications for GMP compensation
On the go: The Department for Work and Pensions has confirmed that nobody has applied for guaranteed minimum pensions compensation, despite the publication of a factsheet designed to boost member awareness of the issue.
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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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NewsPodcast: TPR tells trustees to weigh up diversity when making decisions
On the go: Trustees should think about the diversity of their scheme’s membership, and consider whether they are “inherently disadvantaging” some members with their decisions, according to David Fairs, the Pensions Regulator’s executive director for regulatory policy, analysis and advice.
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NewsGovt proposes ‘find and view’ dashboards amid public sector delay
The government will be moving forward with the ‘find and view’ functionality on pensions dashboards from launch day, despite industry concerns about the size of the task ahead, while it acknowledged that public sector schemes will only be onboarded in 2024 due to the “considerable work” caused by the McCloud remedy.
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NewsOmbudsman cracks down on trustees with new anti-scam unit
The Pensions Ombudsman has launched a new specialist team dedicated to investigate breaches of trust, and allegations of dishonest and fraudulent behaviour by pension scheme trustees.
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NewsUCU confirms strike action in February over USS dispute
The University and College Union has confirmed its members will participate in another round of industrial action in February in response to the ongoing dispute with employers over the Universities Superannuation Scheme.
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NewsPension professionals demand dashboards and climate action
On the go: Pensions dashboards and climate change action ranked as the joint top priority for Society of Pension Professionals members, according to a new survey.
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NewsDC market consolidates by nearly 40% in a decade
On the go: The defined contribution market has shrunk by almost 40 per cent over the past 10 years, according to data published by the Pensions Regulator.
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NewsStrong start is key to dashboards success, study finds
On the go: The pensions dashboards initiative needs to hit the ground running and offer a comprehensive ‘find and view’ service from its point of launch in order to maximise its chances of success, according to Ipsos Mori research.