All Legislation articles – Page 4

  • News on the go
    News

    Ombudsman to speed up state pension age investigation

    2022-08-16T00:00:00Z

    On the go: The Parliamentary and Health Service Ombudsman is to adjust its approach to the remainder of its investigation into failures by the Department for Work and Pensions relating to changes to women’s state pension age, so it can “conclude the investigation as efficiently as possible”, having shared its preliminary views with interested parties.

  • News on the go
    News

    TPR: ‘Keep asking questions’ about investment strategies

    2022-08-16T00:00:00Z

    On the go: The current economic malaise, and especially the impact on liability-driven investments now interest rates are rising, proves it is especially important that trustees continue to ask questions about their investment strategies, even if they seem “silly”, says Fred Berry, the Pensions Regulator’s lead investment consultant.

  • Luke MacGregor/Bloomberg
    News

    Govt to change civil servants’ early pensions access

    2022-08-15T00:00:00Z

    The government has proposed to change the rules around early access to pensions in the civil service, tracking 10 years behind state pension age, according to a new consultation over reforms to the Civil Service Compensation Scheme.

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    News

    Transfer volumes could hit £600bn as insurers post strong results

    2022-08-15T00:00:00Z

    A host of insurers have revealed their first-half 2022 results that show a booming trade in risk transfers, which, by some projections, could hit £600bn over the next decade — though there are fears about a capacity crunch in the sector.

  • News on the go
    News

    MaPS unclear on origin for half of amber flag scam warnings

    2022-08-12T00:00:00Z

    On the go: Nearly half (44 per cent) of scam guidance sessions in the past three months have been triggered despite the Money and Pensions Service not knowing why the amber flag was raised to begin with, according to data obtained via freedom of information act request by Quilter.

  • News on the go
    News

    FBU receives more than 750 ‘immediate detriment’ claims

    2022-08-12T00:00:00Z

    On the go: The Fire Brigades Union has received more than 750 ‘immediate detriment’ claims since June 6, despite being told by the Fire Chiefs’ Council that it should hold off applying immediate detriment until legislation is introduced next year.

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    News

    Govt rejects appeal to make NHS scheme tax-unregistered

    2022-08-11T00:00:00Z

    The government has rejected a petition to make the NHS pension scheme tax-unregistered, arguing that the loss of tax-relief and lump sums “would not benefit the vast majority of members”.

  • Podcasts
    Podcasts

    Podcast: Schemes struggle to educate members amid cost of living crisis

    2022-08-11T00:00:00Z

    Podcast: Members should be able to consider dipping into their pensions early to combat the cost of living crisis, but schemes may struggle to educate them about the best means of doing so without giving them advice. Society of Pensions Professionals president Steve Hitchiner is joined by AgeWage chief executive Henry Tapper, founder of the Pension Playpen, to discuss recession fears, consumer protection for dashboards, and expanding long-term asset funds.

  • News

    Public sector retirees face higher exit payment scrutiny

    2022-08-09T00:00:00Z

    Substantial exit payments resulting from pension strain arrangements in the public sector will likely see people nearing retirement having their cases referred to HM Treasury, under a proposed new regime.

  • News on the go
    News

    Scams action group gets six-figure budget to tackle fraud

    2022-08-09T00:00:00Z

    On the go: The Pension Scams Action Group, a renamed and revamped Project Bloom, is to get a six-figure budget to tackle scams across the next year, with the prospect of more to come.

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    News

    Waiting times a problem as demand for Pensions Ombudsman rises

    2022-08-08T00:00:00Z

    The Pensions Ombudsman has been successful in its application for additional funding, part of which will go towards establishing its new pensions dishonesty unit, and tackling customer waiting times as demand is expected to rise by at least 10 per cent over the next year.

  • News on the go
    News

    Govt to consult on further LGPS McCloud regulations in 2023

    2022-08-08T00:00:00Z

    On the go: The Department for Levelling Up, Housing and Communities is to consult on further regulations governing the application of the McCloud remedy to the Local Government Pension Scheme.

  • News on the go
    News

    Truss hints at doctors’ pension fix

    2022-08-05T00:00:00Z

    On the go: Conservative party leadership candidate Liz Truss has said she will “sort out” the problems with doctors’ pensions in a bid to tackle the staff retention crisis, though she has not yet said how she would go about doing this.

  • Ian Waldie/Getty
    News

    Ombudsman fines Capita for substandard administration

    2022-08-05T00:00:00Z

    The Pensions Ombudsman has told Capita to pay £500 to a disgruntled scheme member as its communications “fell below the standards of good administration”, though the member’s substantive complaint was not upheld.

  • Neil Hall/Reuters
    News

    NHS pension payments delayed as retirements surge 50%

    2022-08-03T00:00:00Z

    More than a thousand NHS pensioners have seen their pension payments delayed as the NHS Business Services Authority, which administers NHS pensions, struggles to cope with a spike in retirements and resignations.

  • News on the go
    News

    McCloud incentives see hundreds of Scottish police retire early

    2022-08-02T00:00:00Z

    On the go: Incentives introduced as part of the McCloud remedy have led to hundreds of Scottish police officers — many in senior positions — choose to retire early, leading to fears that the force is not sufficiently manned to tackle serious crime.

  • News on the go
    News

    LGPS board presses new ministers on TCFD timetable

    2022-08-02T00:00:00Z

    On the go: The Scheme Advisory Board of the Local Government Pension Scheme has written to two newly appointed government ministers urging them to commit to a timetable for scheme reform, as fears mount that important consultations could be delayed.

  • Alaur Rahman/Pexels
    News

    DLUHC rules out requirement for LGPS to provide life assurance AVCs

    2022-08-01T00:00:00Z

    The Department for Levelling Up, Housing and Communities has confirmed there is no regulatory requirement to provide life assurance additional voluntary contributions under the 2013 regulations governing the Local Government Pension Scheme, but said it will consider amending the rules to clarify matters.

  • News on the go
    News

    Collective defined contribution schemes launch in Great Britain

    2022-07-29T00:00:00Z

    On the go: Providers in Great Britain are now able to apply to launch collective defined contribution schemes, a development hailed by pensions minister Guy Opperman for its potential to “transform the UK pensions landscape”.

  • Podcasts
    News

    Podcast: Ball in TPR’s court as DB funding code consultation launches

    2022-07-28T00:00:00Z

    Podcast: The consultation into the defined benefit funding code by the Department for Work and Pensions hints at a prescriptive regime to come, but the Pensions Regulator must improve on its “rubbish” code of practice draft, according to Zedra client director Richard Butcher. He and Hymans Robertson partner Laura McLaren discuss the next steps, stronger nudge concerns, and assess the health of pensions post-Maxwell.