More Law & Regulation – Page 2
-
NewsPension Schemes Bill: Highlights from the third reading in parliament
Pensions Expert selects key topics, quotes and themes from the third reading of the Pension Schemes Bill, which took place yesterday (3 December) in parliament.
-
NewsCommunication, communication, communication: Industry sets out priorities for CDC success
Respondents to the government’s consultation have emphasised the need for retirement-only CDC to be clearly communicated to members and closely aligned with the Pension Schemes Bill’s ‘guided retirement’ rules.
-
NewsAdmin levy and indexation changes among new Pension Schemes Bill amendments
More amendments have been put forward by government ministers and other MPs ahead of the bill returning to parliament tomorrow (3 December).
-
NewsPension providers call for calm ahead of salary sacrifice changes
The government is expected to legislate before Christmas to restrict the national insurance exemption on employee pension contributions made via salary sacrifice, according to the Financial Times.
-
NewsTPR urges action to support millions of people ‘under-saving’ for retirement
Speaking at the Pensions Expert Annual Conference on 26 November, TPR’s Nausicaa Delfas said the UK’s pensions system was “unfinished business”, with approximately 14.6 million people under-saving for retirement.
-
NewsIndustry calls for government to address pre-Budget speculation ‘mania’
Speculation around this week’s Budget has drawn criticism from the pensions industry, with several commentators warning that widespread rumours had prompted people to make irreversible financial decisions.
-
NewsMinimum wage hike to aid pension saving for low earners
For a full-time worker on the National Living Wage, the rise means an increase in pay of £900 a year, while for someone on the National Minimum Wage working full-time, it will mean a £1,500 boost.
-
NewsBudget round-up: Leaks, sacrifices, and unexpected changes
Pensions Expert gathers all the essential pensions reading from chancellor Rachel Reeves’ 2025 Budget speech in one place, from salary sacrifice to surplus release, and pre-1997 indexation to the financial market reaction.
-
NewsPensions and IHT: Rule tweak welcomed but industry warns on complexity
Personal representatives will be able to direct pension administrators to withhold 50% of taxable death benefits in order to pay inheritance tax, according to a note in the Budget speech.
-
NewsGovernment to introduce pre-97 indexation for PPF and FAS members
The chancellor has pledged to allow the Pension Protection Fund to share its reserves with members whose benefits do not automatically increase in line with inflation.
-
NewsSalary sacrifice cap confirmed after OBR accidentally publishes report early [updated]
A £2,000 cap was widely rumoured beforehand, and confirmed after the Office for Budget Responsibility inadvertently published its report before Rachel Reeves began her speech.
-
NewsBudget 2025: Live blog as Rachel Reeves addresses parliament
Follow chancellor Rachel Reeves’ second Budget speech from 12:30pm as she addresses parliament and the nation after weeks of feverish speculation.
-
NewsPension Schemes Bill report stage announced for 3 December
MPs will discuss the bill again at the start of December before it progresses to the House of Lords, with 36 amendments tabled and yet to be considered.
-
NewsFrom £160bn to £11bn: Government reins in surplus release estimate
Data highlighted by the Society of Pension Professionals shows that the government’s central estimate for capital released from DB surpluses is less than 10% of the £160bn it cited at the launch of the Pension Schemes Bill.
-
NewsSalary sacrifice changes ‘could put millions of retirements at risk’
The Association of British Insurers has added its voice to opponents of potential changes to salary sacrifice rules, ahead of the Budget speech later this month.
-
NewsUpdated sole trustee code launched as TPR eyes increased oversight
The Association of Professional Pension Trustees has updated its code for sole trusteeship to include additional guidance on due diligence and measures providers should take to manage conflicts of interest.
-
NewsLCP calls for radical rethink of state pension age amid fiscal pressures
LCP’s Stuart McDonald and Steve Webb have set out a proposal that would link the state pension age to life expectancy while protecting those with shorter life expectancies.
-
NewsBox Clever members transferred to ITV Pension Scheme to end decade-long saga
Box Clever members have been receiving benefits level with PPF compensation since 2014, but will now see these restored in full and back payments made after members were transferred to the ITV scheme on 1 October.
-
NewsScrapping salary sacrifice could cut take-home pay for staff, SPP warns
The Society of Pension Professionals has warned against making changes to salary sacrifice rules amid mounting speculation that Rachel Reeves could explore such a move in her Budget this month.
-
NewsMore ‘humane’ approach to pensions inheritance tax rules needed
The House of Lords Economic Affairs Committee is conducting an inquiry into the draft Finance Bill, including the proposed changes to the IHT treatment of unused pension funds.