More Law & Regulation – Page 128
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News
Pensions regulatory gap 'unsatisfactory', DWP report says
News analysis: The regulatory gap between pensions and wider financial services needs addressing, a Department for Work and Pensions report has said, but ongoing reform is pushing the issue down the agenda.
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Schemes told to offer annuity brokerage
News analysis: The shadow pensions minister has urged schemes to take a role in providing annuity brokering advice to ensure greater member purchasing power, but industry figures have raised concerns over how this could be implemented.
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Bad data: how to diagnose and fix missing records
Since the Pensions Regulator’s record-keeping guidance was issued in June 2010, data quality and member records have been at the forefront of many trustees' minds.
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Managers brace for legal tasks and precedents
2014 preview: The next 12 months should provide extra case law that affects the scheme-employer relationship, further auto-enrolment challenges and preparations for the abolition of contracting-out for defined benefit schemes.
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How the DB code of practice may affect your scheme
News analysis: Schemes should take a more integrated approach to investment, funding and covenant in their risk management, according to the Pensions Regulator’s consultation on its defined benefit code of practice.
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NewsAutumn Statement 2013: How it affects your scheme
Today's Autumn Statement left schemes mulling state pension rises, a boost to exchange traded fund investment and an option to allow scheme members to top up their additional state pension.
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Micro scheme membership slumps as market consolidates
Data analysis: The total membership of small schemes with between two and 11 members has fallen by two-thirds over recent years as the market consolidates and auto-enrolment beds in.
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How Norfolk judges investment fee value
Norfolk Pension Fund underwent third-party benchmarking of its investment management fees earlier this year to ensure value, but has warned against a focus purely on cost over quality.
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How to protect your scheme from liberation scams
Trustees are being warned to prepare robust exit contracts to prevent members claiming future benefits if a pension transfer is deemed a scam.
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How the DC code will affect your scheme
The Pensions Regulator will make its defined contribution code of practice easier for scheme managers to understand after feedback that the line between pensions law and best practice was not clear enough.
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Managing your money purchase legislative risk
News analysis: Managers of pension schemes that have hybrid elements such as additional voluntary contributions have been urged to investigate the impact of a legislative change that could increase their costs.
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How defined ambition could affect your scheme
Government has outlined proposed legislative modifications to the pensions system including changes to decumulation rules and daily pricing requirements, which could impact current defined contribution and defined benefit schemes.
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Transfer industry outlines pot-follows-member approach
Transfer companies have set out how pot-follows-member pensions consolidation could work after the government said it was looking at industry initiatives to find a cost and time-efficient implementation.
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Scams burden remains in spite of HMRC registration
News analysis: A High Court ruling last week established the Pensions Regulator’s authority to take action against schemes it believes to be fraudulent.
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Defence schemes 'future-proof' MNT governance
The Selex and AgustaWestland pension schemes have reformed their member-nominated trustee election processes to safeguard decision-making continuity for their beneficiaries.
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Regulator refines website for SME auto-enrolment
The Pensions Regulator has revamped the auto-enrolment section of its website to help small to medium-sized enterprises implement the reform by adding step-by-step tools and drop-down information menus.
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Schemes face annual allowance rush to avoid fines
Schemes must inform members if they have breached the annual tax relief allowance in 2011/12 and 2012/13 by October 6 or face penalties from HM Revenue & Customs.
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Local govt funds swap 'Care' title to explain reform
Local government pension schemes have decided to use ‘account’ rather than Care when communicating their reformed scheme structure to avoid negative associations.
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NewsKodak deal captures new age of sponsor-scheme creativity
News analysis: Purchasing assets from insolvent sponsors could become more common for schemes looking to secure member benefits, according to lawyers working on the Kodak case.
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How to protect your scheme against payment errors
News analysis: Legal experts have warned that schemes and employers could face paying out large sums to members due to incorrect pension estimates, with requests for advice on the issue increasing.