All Legislation articles – Page 32
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Protheroe: From employee 37 to PPF board member
Fifteen years after joining the Pension Protection Fund as employee number 37, Sara Protheroe has now been appointed to the lifeboat’s board.
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Govt revokes general levy increase
On the go: The government has revoked the new regulations on the general levy, which would see an increase for pension schemes of 10 per cent, due to the Covid-19 crisis.
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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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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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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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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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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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Professionals support switch to CPIH with no compensation
On the go: More than a third of pension professionals support a switch from the retail price index to the consumer price index incorporating owner occupier housing costs with no compensation, new research shows.
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Company director fined after prioritising yachting over TPR
On the go: A company director has been fined £10,000 and ordered to pay £2,800 in costs by the Pensions Regulator for failing to provide information and documents requested as part of an investigation.
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OpinionThe biggest driver of change in DC
Data Crunch: Over the past few years, defined contribution schemes have had to adapt to substantial changes introduced by the government and the regulators.
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New criminal sanctions not meant to disrupt businesses, Govt claims
The government has guaranteed that new criminal sanctions introduced in the pensions schemes bill are not intended to disrupt legitimate corporate activity, but has refused to revise “widely” worded powers to go after those linked to defined benefit schemes.
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Local authorities to have ‘absolute discretion’ on LGPS exit credits
On the go: Local authorities will have “absolute discretion” in determining the amount of any exit credit payment due to employers in the Local Government Pension Scheme, the government has said.
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DWP: Government will not dictate schemes’ ESG investments
The government insists it is not intervening in pension scheme investment strategies with a climate change amendment to the pension schemes bill introduced earlier this month.
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TPR ordered to set out climate change strategy
On the go: The government is expecting the Pensions Regulator to publish a strategy for dealing with the financial risks arising from climate change, among other requirements to integrate the Green Finance Strategy into its activities.
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Contractor takes local authority to court over LGPS exit payment
A Manchester-based waste management company has brought a claim to the High Court against Tameside Metropolitan Borough Council over an alleged £13m exit credit due from the Local Government Pension Scheme.
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TPR to promote DB schemes under proposed amendment
On the go: An amendment to the pension schemes bill could see the Pensions Regulator having to actively promote defined benefit schemes where possible.
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Webb urges experts to lobby Lords for pension schemes bill changes
On the go: Former pensions minister Sir Steve Webb has urged pension specialists to lobby the House of Lords for changes in the pensions schemes bill, warning that it will pass through the House of Commons unchanged.
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Criminal sanctions could deter businesses and trustees, Lords warn
The government has been urged to review the scope of new criminal sanctions introduced by the pension schemes bill that have “been drawn incredibly widely” and could “deter respectable people from becoming trustees”.