All Legislation articles – Page 38
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News
Consumers to be encouraged to shop around with proposed annuity provider rules
New plans announced by the Financial Conduct Authority will require annuity providers to make consumers aware of rival deals before they purchase an annuity, but some experts say there should be a similar solution for other retirement products.
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NewsFCA annuity provider rules to encourage consumers to shop around
New plans announced by the Financial Conduct Authority will require annuity providers to make consumers aware of rival deals before they purchase an annuity, and some experts say there should be similar rules for other retirement products.
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FeaturesNational Grid goes ahead with new scheme sections
National Grid has decided on the section allocation of scheme members after agreeing on the creation of three independent sections within the National Grid UK Pension Scheme earlier this year
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News
'Unconflicted' MNTs have a place on trustee boards, experts say
Communicating complicated legislative changes, focusing on defined contribution governance and protecting members’ benefits are just a few of the challenges faced by trustee boards.
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News
HMRC system changes ‘not catching anyone unawares’
HMRC is making software changes as part of ongoing plans to ensure its systems are up to date, but as long as pension administrators making pay-as-you-earn or pension scheme returns are prepared, they should not be too concerned, experts have said.
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FeaturesRexam reduces membership through commutation exercise
The Rexam Pension Plan has carried out a trivial commutation exercise, contributing towards a reduction in total membership as defined benefit schemes are trying to reduce costs.
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News
TPR uses powers to stamp out non-compliance and avoidance issues
The Pensions Regulator has continued to demonstrate its tougher approach by fining trustees for non-compliance.
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OpinionHow to provide a flexible workplace savings scheme to all employees
Defined contribution pensions have been impacted by the last three budgets – freedom and choice means DC pensions are now arguably a tax-efficient savings plan rather than a retirement income plan.
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NewsBritish Steel pensions rule change proposals shelved
The government has reportedly put aside plans to change pensions legislation that would allow Tata Steel UK’s pension scheme to stay out of the Pension Protection Fund, according to insiders briefed on the issue.
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Features
Salvation Army derisks as charities struggle with pension deficits
The Salvation Army has recently reduced risk in its UK defined benefit multi-employer scheme, having made efforts to tackle its pension deficit, but pension obligations are proving increasingly problematic for many charities.
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FeaturesHP scheme reboots parent company guarantee
The Hewlett-Packard Limited Retirement Benefits Plan has replaced its parent company guarantee following a major corporate reorganisation, resulting in improved terms for members.
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Features
Norcros moves to mastertrust in bid to improve governance
Bathroom and kitchen products company Norcros is transferring its money purchase section to a mastertrust arrangement to provide "more focused governance" and greater flexibility.
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News
Uptick in scams prompts call for tighter regulation
A recent increase in reports of suspected pension scams has been called “the tip of the iceberg”, as experts said tighter legislation would help schemes ensure their members do not lose hard-earned retirement savings.
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NewsPensions shrouded in uncertainty as UK votes to leave
The pound fell on Friday following news the United Kingdom had voted to leave the European Union, but experts warned schemes not to overreact.
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NewsWhat will British Steel's rule changes mean for pensions?
Experts agree the changes being proposed to the British Steel Pension Scheme will impact salary-related pensions more broadly, but differ on whether the long-term effects will necessarily be negative.
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OpinionHow to prepare for legal and regulatory change
Pensions legislation seems to be subject to continual change and is now supplemented by a raft of codes of practice and guidance from the Pensions Regulator.
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NewsCap on golden handshakes could affect average earners at Magnox
Workers across the public sector will see a £95,000 cap on exit payments under a new clause added to the 2015-16 enterprise bill which could hit average earners at nuclear decommissioning company Magnox.
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NewsA lot to get to grips with: the legal and regulatory outlook for 2016
Legal and regulatory change was abundant last year and 2016 looks like it will continue in the same vein, as both the UK and Europe are churning out legislation and rules affecting occupational pension schemes.
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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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Opinion
Altmann sets out on maiden voyage, industry expectations high
From the blog: Pensions minister Baroness Altmann of Tottenham – commonly known in the industry as Ros Altmann – yesterday delivered her maiden speech to the House of Lords, outlining the government’s thoughts on the state pension, consumer protection and what lies ahead for auto-enrolment.