More Law & Regulation – Page 117
-
NewsOne year wiser: What trustees have learnt in 2016
Any other business: From Brexit to Trump, 2016 has been a year of the once-inconceivable coming to pass. Faith in institutions, already low, has taken repeated batterings as prediction after prediction has turned out to be wrong.
-
News
Select committee sets sights on gig economy
The Work and Pensions Committee has this week launched an inquiry into self-employment and the so-called gig economy, focusing on pensions as well as universal credit, support and labour market participation.
-
News
TPR's record-keeping push welcomed but stresses remain for small schemes
The Pensions Regulator is demanding that trustees report on record-keeping in the scheme return and has issued new guidance, after conducting a survey which found that too many are not measuring members’ data.
-
News
Ownership or nudge? How to make auto-escalation work
The pensions industry and government must instil a sense of “personal ownership” over pensions in currently underprepared members if auto-enrolment is to achieve its aims, pensions minister Richard Harrington has said.
-
News
HMRC consults on GMP equalisation despite Brexit
The government has this week launched a consultation on the methodology for equalisation of guaranteed minimum pensions, indicating commitment to the issue, which goes back to EU law, despite the Brexit vote.
-
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.
-
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.
-
NewsChancellor proposes ban on cold calling, refrains from pensions tax overhaul
In his first and last Autumn Statement, Chancellor Philip Hammond swapped the timing of the Budget and the Statement but had comparatively little to say about pensions for now; one of the larger measures – a consultation into pensions fraud – was welcomed by the industry.
-
News
Draft Lisa rules attempt to prevent AE opt-outs
Providers of the lifetime Isa should warn savers that substituting their pension for the product will mean they lose out on employer contributions, draft rules published by the Financial Conduct Authority have proposed.
-
News
FCA wants to strengthen duty on managers and consultants
About £109bn of investor assets is held by managers who charge high fees but do not offer significant variation from an index-tracking strategy, the Financial Conduct Authority’s interim report on competition in the asset management market has found.
-
NewsEarly exit charge cap attracts criticism and praise
Both the government and the Financial Conduct Authority have confirmed plans to introduce caps on early exit pension charges, but authorities should take care not to actively encourage early decumulation, experts say.
-
News
Industry divided over CPIH
The Office for National Statistics has recently said it will make the consumer price index including owner-occupiers’ housing costs its preferred measure for gauging inflation next year, so should the government follow suit for pension indexation and revaluation?
-
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.
-
News
Select committee urges government to scrap triple lock
The Work and Pensions Committee has called for the state pension triple lock to be scrapped, in an attempt to ameliorate an economy "skewed in favour of baby boomers and against millennials".
-
News
'Rules lottery' continues after Court of Appeal's RPI/CPI judgment
Trustees of the Barnardo Staff Pension Scheme will not be allowed to provide indexation of benefits in line with the consumer price index, according to a Court of Appeal decision earlier this week.
-
News
TPR launches enforcement action over BHS scheme
The Pensions Regulator has launched enforcement action against former BHS owners Sir Philip Green and Dominic Chappell in an effort to shore up financial support for the company's troubled pension scheme.
-
News
Schemes urged to look past 'Super Thursday' market movements
The FTSE 100 fell last week on the back of a High Court ruling that parliament must have a vote on the UK’s triggering of Article 50, while the Bank of England revised its inflation expectations upwards.
-
NewsWill tribunal judgment force Uber to auto-enrol its drivers?
Two Uber drivers have been deemed workers who are employed by the taxi app, in a tribunal judgment released last week that could set a precedent for the auto-enrolment of gig economy workers.
-
News
Company disclosures lack detail, report concludes
Companies need to provide more information on their defined benefit pension obligations, experts have said, after a study by Lincoln Pensions revealed a lack of clarity on many key issues.
-
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.