All Law & regulation articles – Page 85
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News
Questions remain about AE contributions in govt scheme
On the go: Government's announcement that it will cover employer auto-enrolment pension contributions for furloughed workers still leaves many questions unanswered, such as how it will operate for defined benefit schemes, an expert warned.
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TPR relaxes AE enforcement action in response to Covid-19
On the go: The Pensions Regulator is giving employers more time to pay contributions without triggering any enforcement action, in a move to reduce the burden on businesses during the Covid-19 crisis.
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Claim companies chasing discriminated civil servants
Members of the Local Government Pension Scheme who are affected by the McCloud discrimination judgment are “being actively encouraged” to lodge a claim against the government.
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PPF’s Hampshire legal challenge to be decided in May
On the go: The legal challenge against the solutions implemented by the Pension Protection Fund in the Hampshire case will be heard by the High Court in May.
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Govt relaxes pension rules for returning NHS staff
On the go: The government has relaxed its pension rules in the coronavirus bill for National Health Service staff returning to work so they are not hit by reduced pension payments.
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McCloud: Civil servants to choose between old and new schemes
On the go: Members of public sector pension schemes who were victims of discrimination will be allowed to choose whether they accrued service in the old or new schemes, the government announced on Wednesday.
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PASA to tackle cyber crime and fraud with new working group
On the go: The Pensions Administration Standards Association has created a cyber crime and fraud working group, aimed at creating standards to better protect pension schemes and their members.
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Plumbers’ scheme braced for legal battles over employer debts
Trustees of the £2bn Plumbing and Mechanical Services (UK) Industry Pension Scheme have asked a Scottish court to let them use plan assets to fund legal battles, after an unnamed participating employer commenced action against the fund.
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HSBC ahead of curve with TCFD compliance
As the government seeks powers to mandate pension schemes to disclose their climate change risks, the HSBC Bank (UK) Pension Scheme is already on its second report under the Task Force on Climate-related Financial Disclosures.
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Deferral of DB contributions ‘may be appropriate’
On the go: New guidance for defined benefit trustees accepts that some employers may need to delay deficit repair contributions due to economic disruption caused by the Covid-19 outbreak, but urges schemes to test employer claims carefully.
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Govt backtracks over policy on Ssas consolidation
On the go: The Department for Work and Pensions has been forced to clarify that small self-administered schemes will not be included in its push for consolidation of subscale defined contribution arrangements, following industry backlash.
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ITV given six months to fund pension scheme
On the go: ITV has been given six months to fund the Box Clever pension scheme after it lost its eight-year legal challenge against the Pensions Regulator.
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New all-party group to tackle pension scams
On the go: A cross-party group of MPs and Lords have united to better protect pension scam victims and develop a range of policies to prevent scammers from operating.
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Trustee boards display unacceptable lack of diversity
On the go: The Pensions and Lifetime Savings Association has published a guide to improving diversity and inclusion in pensions, amid enduring concerns over groupthink and prejudice in the trust-based system.
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Pension bill progress halted due to emergency health laws
On the go: Progress on the pension schemes bill has come to a halt following the government’s commitment to hurry through emergency health legislation to combat the effects of coronavirus.
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Charge cap could be a barrier to CDC, experts fear
A collective defined contribution pension scheme for Royal Mail employees is inching closer to the starting gate, but an amendment to the pension schemes bill to impose a charge cap could derail other nascent CDCs from ever getting off the ground, according to experts.
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Tax changes pose admin challenge for pension schemes
On the go: Pension specialists have welcomed the announced changes in pensions tax relief in this week’s Budget, but have pointed out that it brings an added administration challenge to schemes.
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Opperman to legislate for DC consolidation
On the go: The minister for pensions and financial inclusion has unveiled plans to force the consolidation of subscale defined contribution arrangements.
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NewsTCFD reporting confirmed as climate guidance takes shape
Trustees should stress-test their portfolios against a range of climate change scenarios, according to provisional guidance launched on Thursday, as pensions minister Guy Opperman warned of consequences for those in dereliction of their duties.
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TPR alerts trustees for contingency planning amid Covid-19 fears
On the go: The Pensions Regulator has reminded trustees of the need for appropriate monitoring and contingency planning to be able to continue to run their schemes amid a coronavirus outbreak.