More Law & Regulation – Page 17
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NewsInflation is main concern for DB trustees and sponsors
On the go: Inflation and monetary policy represent the key concern for three-quarters (74 per cent) of pension trustees and their sponsors over the next six months.
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NewsPublic sector pension statements’ deadline delayed
On the go: The government intends to delay the deadline for the issuance of pension savings statements covering the 2022-23 period by a year to October 2024 in certain public sector schemes, as part of the tax remedy to an age discrimination case.
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NewsNest plans boardroom overhaul in diversity drive
Nest is recruiting for three new non-executive directors as it attempts to improve the diversity of its board, the master trust’s chair has told Pensions Expert.
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NewsTrustee pair receive suspended sentences for illegal loans
On the go: Two pension trustees who pleaded guilty to making illegal loans from a company pension scheme to its employer have received suspended prison sentences.
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NewsTPR threatens £50,000 fines for dashboards non-compliance
The Pensions Regulator will impose fines of up to £50,000 for non-compliance over pensions dashboards.
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NewsValue over cost emphasised in new DC illiquid investment guides
On the go: Defined contribution scheme trustees are being encouraged to shift their focus on illiquid investments from cost to value, in a series of guides published by the Productive Finance Working Group.
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NewsTiming and flexibility concerns raised over LGPS climate reporting
The pensions industry has expressed its concerns to the government over proposals surrounding new requirements for Local Government Pension Scheme funds to produce climate risk reports, citing fears over the timescale imposed and a lack of flexibility.
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NewsFCA to establish code of conduct for ESG data and ratings providers
On the go: The Financial Conduct Authority will establish a voluntary code of conduct while it awaits further action from the Treasury.
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NewsPension savers lose £1.7bn on retirement transition
On the go: Workplace pension scheme members are losing around £1.7bn a year during their transition into and in retirement, according to new research from master trust HSBC Tomorrow.
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NewsEx-trustee pleads not guilty to illegal pension investing
On the go: Former trustee David Boardman has pleaded not guilty to six counts of making illegal investments, in a prosecution brought by the Pensions Regulator.
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NewsTPR: Trustees show ‘increasing willingness’ to embrace D&I
On the go: The Pensions Regulator has found “increasing willingness” from scheme trustees to embrace diversity and inclusion, despite recognising “change is not easy and may take time”.
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NewsL&G blames govt for LDI crisis and backs consultant regulation
Legal & General has placed responsibility for the market turmoil that triggered the autumn liquidity crisis firmly at the feet of the government, while adding its support to calls for the regulation of investment consultants.
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NewsUUK: ‘Ignoring USS problem is not the answer’
The president of Universities UK has stood by planned reforms to the Universities Superannuation Scheme, in the lead up to unprecedented strike action that will take place across 150 universities.
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NewsLDI crisis to hit L&G’s DB revenue and profit by £10mn
On the go: Legal & General has disclosed that its defined benefit business-linked revenues and profits will be hit by around £10mn in its full-year 2022 results, following an autumn liquidity crisis among pension schemes that saw its higher-fee products sold to meet collateral calls.
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NewsTreasury delays NHS scheme McCloud remedy to October 2023
The McCloud remedy for the NHS Pension Scheme has been pushed back to October 2023 on the back of Treasury delays in producing required documents.
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NewsState pension age review to be published next year
On the go: The state pension age review will be published in early 2023, the chancellor has said.
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NewsGovernment retains state pension triple lock
On the go: Chancellor Jeremy Hunt has confirmed that the pensions triple lock is to be protected.
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NewsSolvency II reforms ‘could unlock £100bn in productive finance’
The Treasury has published its final Solvency II reform proposals, which are expected by the industry to unlock more than £100bn in long-term productive assets such as social infrastructure and green energy.
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NewsSingle mothers face £246,000 pension shortfall
Single mothers in the UK are facing a £246,000 shortfall in their pension pots compared with the average couple, and this is being further exacerbated by rising inflation and falling wages
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NewsTPR and FCA flag governance and competence concerns over LDI
The Pensions Regulator and the Financial Conduct Authority have raised questions over the governance of small schemes and the competence of some investors, in response to questions from a parliamentary committee over the use of liability-driven investments by pension schemes.