All Law & regulation articles – Page 77
-
News
Trustees on the hook for advice under new FCA guidance
On the go: Trustees have been warned that providing personalised illustrations to demonstrate the outcomes of a defined benefit pension transfer will be viewed as regulated advice under new guidance from the Financial Conduct Authority.
-
News
Pensions freedom age to increase from 55 to 57
On the go: The government has confirmed it will increase the age at which people can access their pension from 55 to 57 in 2028.
-
News
Industry unmoved by regulator’s DB funding arguments
The introduction of a twin-track approach to regulating defined benefit scheme funding could stifle the creativity needed to navigate the current financial crisis, experts have warned.
-
News
One in 20 workers missing out on pension contributions
On the go: One in 20 employees are being short-changed by their employer and are not receiving the pension they are due, research has found.
-
News
Govt to force schemes to publish climate risk disclosures
On the go: The largest pension schemes will be legally required to assess and report on climate change risks within their investment portfolios under new government rules.
-
News
PPF levy expected to increase due to Covid-19 impact
As insolvencies ramp up and more defined benefit schemes are expected to end up at the Pension Protection Fund, the lifeboat might need to increase its levy to face a multibillion-pound hit, amid several other solutions, analysis from LCP shows.
-
News
Calls for government to clarify dashboard data standards
On the go: The government is facing growing calls to “come clean” about what data is required from pension schemes and providers for the pensions dashboard so that the industry can prepare properly, following conflicting reports.
-
News
Police officers warn of age discrimination in McCloud remedy
The government’s proposed remedy for the McCloud/Sargeant age discrimination cases fails to address the issue in a “fair and non-discriminatory manner”, a group of police officers has warned.
-
News
More than £30m lost to scams in three years
On the go: Pension savers should reject “unexpected” pension offers made online or over the phone, regulators have urged in their latest ScamSmart campaign, as figures showed more than £30m has been lost to scammers since 2017.
-
News
TPR in discussions with Plumbing trustees over governance failures
The Pensions Regulator has been in discussions with the trustees of the Plumbing and Mechanical Services Industry Pension Scheme, who face criticism for governance failures amid a long-running debacle that could send plumbers into bankruptcy.
-
News
PPF and DWP appeal Hampshire methodology ruling
On the go: The Pension Protection Fund plans to appeal a judgment forcing it to pay at least half of the defined benefits expected by survivors of scheme members, while the government will appeal the finding that the PPF’s compensation cap is illegal.
-
News
Call for govt to abolish flat fees in workplace pensions
On the go: LCP is calling for an end to flat monthly fees being charged on defined contribution pots, arguing they can be “detrimental” to low-paid and part-time workers, although the government has previously stated it is not considering a ban.
-
News
Covid-19 adds £10bn to inflation woes
As the government’s consultation to make changes to the retail price index draws to a close, the impact of aligning the inflation measure with the consumer price index including housing costs has increased by £10bn due to the pandemic.
-
News
Safeway gets clarity on pension equalisation case
On the go: Safeway has reached the end of a pensions legal process that started in 2016, with the Court of Appeal ruling that its defined benefit scheme's normal pension ages were equalised retrospectively, but not for as long as initially predicted.
-
News
Trustees must watch out for buyout tax implications
Defined benefit trustees have been urged to be on their guard against a new interpretation of tax law that could see certain members hit by unexpected tax charges on buyout.
-
News
High Court to clarify if PPF can pay redress to scam victims
The High Court has been asked to clarify whether legislation that created the Fraud Compensation Fund, managed by the board of the Pension Protection Fund, could allow for compensation to victims of pension scams.
-
News
Ombudsman finds ‘maladministration’ in BSPS transfer
On the go: The trustees of the old British Steel Pension Scheme have been ordered to pay out to a steelworker, after “maladministration” meant he received a pension transfer lower than he could have done.
-
News
Experts query whether £31m offer will satisfy TPR in Box Clever case
ITV has put forward an initial offer of £31m to the Pensions Regulator of financial support for the struggling Box Clever Pension Scheme, following an eight-year courtroom battle.
-
News
TPR conducts internal review after Norton case
On the go: The Pensions Regulator is conducting an internal review to identify if there are lessons to be learnt after the Norton Motorcycles debacle, a case that left members looking to recoup losses in excess of £14m.
-
News
Industry leaders’ plea to ministers over FCA advice trap
Leaders of pensions industry representative groups have written a joint complaint to government ministers over new guidance from the Financial Conduct Authority, which they warn could see helpful trustees deemed to be giving regulated financial advice.