More Law & Regulation – Page 3
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NewsCDC proposals ‘unduly onerous’, warns SPP
The government’s planned rules for multi-employer collective defined contribution (CDC) schemes are “unduly onerous” and could put off providers from launching such arrangements, according to the Society of Pension Professionals (SPP).
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NewsIs bigger really better? Industry reacts to ‘megafunds’ plan
Chancellor Rachel Reeves has been urged to support trustees’ fiduciary duty and ensure there are sufficient UK assets for her planned “megafunds” to invest in.
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NewsThe Pensions Regulator publishes rulebook for CDC schemes
The Pensions Regulator (TPR) plans to send collective defined contribution (CDC) schemes annual evaluations setting out risks, actions and the regulator’s planned supervisory “intensity”.
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NewsCDC legislation planned for next year, says pensions minister
Pensions minister Emma Reynolds expects fresh legislation for collective defined contribution (CDC) schemes to be laid next year – but they are not expected to feature “directly” in the pensions bill.
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NewsOpperman: Consolidation needs to be harder, better, faster, stronger
Former pensions minister Guy Opperman has called for workplace pensions consolidation to be accelerated and extended to include commercial providers and even regulators.
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NewsBudget 2024: Reeves raises employer national insurance
The government will increase the national insurance rate by 1.2 percentage points from next April as part of a plan to raise £25bn in tax.
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NewsBudget 2024: National insurance hike ‘terrible news’ for pension adequacy efforts
Changes announced in the budget today (30 October) could make it more difficult to increase pension contributions and may even lead to reductions, according to industry commentators.
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NewsBudget 2024: ‘Devil is in the detail’ of tax change implications
While chancellor Rachel Reeves opted against introducing some of the more radical changes to pension tax speculated on before the Budget, decisions announced today will still have implications for schemes, administrators and pensioners.
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NewsPension and decumulation complaints rise by 27% in 18 months
Some industry figures question whether consolidation is working, as FCA publishes complaints data
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NewsFind an alternative to DC – or else
We need an alternative to DC for a dignified retirement, former general secretary of the Communication Workers Union warns. Could CDC be the sustainable alternative to DC that society needs?
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NewsUK pension system declining against other countries, research shows
The UK’s pension system has lost its top-10 position among global retirement systems, according to the latest Mercer CFA Institute Global Pension Index.
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NewsValue for Money plans not set in stone, say regulators
The regulators are open to changing their planned ‘red-amber-green’ model for the Value for Money framework as the consultation process continues.
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NewsPLSA Conference: Delegates support national insurance changes
National insurance should be applied to employer pension contributions if the chancellor is looking to pensions to help plug the economic black hole, according to a poll of delegates at the Pensions and Lifetime Savings Association’s Annual Conference.
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NewsPLSA Conference: Reframing pensions as a ‘reward for saving’
Pensions should be reframed as a reward for saving rather than a benefit for the better off, according SEI managing director Steve Charlton.
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NewsPensions minister targets growth, better retirement outcomes
The government’s extensive policy reforms anticipated in the Pension Schemes Bill will deliver “the growth the country needs and the security in retirement that savers deserve”, according to pensions minister Emma Reynolds.
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NewsChurch of England eyes CDC as consultation launches
The Church of England and TPT Retirement Solutions have expressed interest in the collective defined contribution (CDC) pension model after the government launched a consultation on a regulatory framework.
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NewsRelief at last: Govt 'backs down' on pension tax changes
The government has reportedly shelved plans to overhaul the system of tax relief on pension contributions given the impact on public sector workers.
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NewsDashboards: ‘All systems go’ as deadlines approach
The development of the pensions dashboards ecosystem is on track to be ready for the first connection deadlines in April 2025.
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NewsAMNT flags governance concerns with sole trustee model
The association has called for greater regulatory oversight to ensure members are protected when schemes move to a sole trustee model.
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NewsMembers must be centre of Pensions Review, industry says
The government must place members’ and savers’ best interests at the heart of the Pensions Review, according to pension providers and industry bodies.