More Law & Regulation – Page 108
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TPR fines airline's scheme for failing to get accounts audited on time
Four trustees of the Pakistan International Airlines Retirement and Death Benefits Plan have been fined £500 each for failing to get accounts audited on time for two years in a row.
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Bus firm and boss to pay £60k for failing to offer staff pension
A bus company and its managing director have admitted to trying to deliberately avoid giving their employees workplace pensions, and now must pay more than £60,000.
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Now Pensions fined £70k for admin failings
The Pensions Regulator has fined the trustee and trust manager of Now Pensions in relation to persistent administration failures, and has given the embattled mastertrust until July to fix all of its issues.
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NewsRegulator publishes British Steel section 89 report
The pensions watchdog has outlined its decision-making process in a regulatory report on the British Steel Pension Scheme, published six months after greenlighting the regulated apportionment arrangement to separate the BSPS from Tata Steel UK.
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High Court set to hear objections to Barclays pension plans
The High Court will hear objections to Barclays’ decision to back its pension scheme with its non-ringfenced investment bank, reports the Financial Times.
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NewsGovt defeated on 'discriminatory' changes for firefighters and judges
The Employment Appeal Tribunal is returning the firefighters’ discrimination case to the Employment Tribunal and has dismissed the government’s appeal over a similar case in relation to a group of judges.
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Box Clever trustees under scrutiny for scheme setup decisions
The trustees of failed TV rental business Box Clever’s defined benefit pension scheme have come under scrutiny for their decisions involving the fund’s setup, as part of an Upper Tribunal hearing on the company’s collapse.
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Committees question Santander, FSB and Carillion shareholders
Both the Work and Pensions Committee and Business, Energy and Industrial Strategy Committee have written to the Federation of Small Businesses, HM Revenue & Customs and major shareholders in Carillion to try to get a better idea of operations at the construction outsourcing company.
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Nest amendments put before parliament
The government has responded to its consultation on the draft National Employment Savings Trust (Amendment) Order 2018, and laid it before parliament on Monday.
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NewsMPs accuse Carillion of trying to 'wriggle out' of pension obligations
The Work and Pensions Committee has accused Carillion of trying to “wriggle out” of its pension obligations for the past decade, amid calls for stronger laws to prevent future scandals.
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ITV case: Regulator argues for retrospective moral hazard powers
The leveraging up of TV rental company Box Clever put members’ pensions at risk while extracting maximum value for its shareholders, a landmark Upper Tribunal case about the Pensions Regulator’s powers has heard.
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Government waters down default guidance proposals
The government has removed an amendment to the financial guidance and claims bill which would have automatically enrolled people into guidance as they seek to access their pots or transfer benefits.
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GMB union hits out over pension funding in water industry
Trade union GMB attacked Prime Minister Theresa May over her statement in the Observer that she would "fine greedy bosses who betray their workers".
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Carillion directors called to joint inquiry
The Work and Pensions Committee and the Business, Energy and Industrial Strategy Committee are starting a joint inquiry into the collapse of Carillion, which has left thousands of employees and pension scheme members in limbo.
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NewsCommons debates default guidance in second reading of bill
The House of Commons debated the feasibility of default guidance and the future of private sector pensions during the second reading of the financial guidance and claims bill on Monday.
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Cost of pensions tax relief at record £24bn
The cost of providing tax relief on workplace pension contributions is set to exceed £24bn in 2017-18, according to figures published by HM Revenue & Customs on Tuesday.
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Scammers ordered to pay back £13.7m
In a case against four people, the Pensions Regulator has for the first time obtained an order from the High Court to make the defendants repay the funds taken from their victims.
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GMP interim solution for public service pensions extended until 2021
The government has extended its interim solution for indexation and equalisation of guaranteed minimum pensions in public service schemes, and plans to look into the conversion method as an alternative during that time.
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NewsMay's promise to protect pensions lacks concrete solutions
Theresa May has pledged to stop executives who try to “line their own pockets” by putting pension schemes at risk, but questions over resourcing and legislative issues remain.
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May promises to stop pensions being put at risk
Theresa May has promised to stop executives from putting pensions at risk.