More Law & Regulation – Page 49
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NewsOmicron drives interest rate and inflation hedging in Q4
On the go: Interest rate liability hedging activity surged by more than a quarter in the last three months of 2021, according to new data from BMO Global Asset Management, a jump which the asset manager attributed to Omicron-driven pessimism about the economy.
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NewsDWP reveals lack of applications for GMP compensation
On the go: The Department for Work and Pensions has confirmed that nobody has applied for guaranteed minimum pensions compensation, despite the publication of a factsheet designed to boost member awareness of the issue.
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NewsThink tank warns old DC schemes can erode member benefits
On the go: Members could be suffering poor value for money and seeing their benefits erode by not moving their pensions out of old defined contribution pots, the Institute for Fiscal Studies has warned.
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NewsHow pension schemes can help the UK meet its sustainability goals
Tackling climate change is high on the agenda for pension scheme trustees, and with COP26 only recent history, taking action has never felt more pressing. However, trustees must be careful to balance this with generating investment returns.
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NewsPodcast: TPR tells trustees to weigh up diversity when making decisions
On the go: Trustees should think about the diversity of their scheme’s membership, and consider whether they are “inherently disadvantaging” some members with their decisions, according to David Fairs, the Pensions Regulator’s executive director for regulatory policy, analysis and advice.
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NewsGovt proposes ‘find and view’ dashboards amid public sector delay
The government will be moving forward with the ‘find and view’ functionality on pensions dashboards from launch day, despite industry concerns about the size of the task ahead, while it acknowledged that public sector schemes will only be onboarded in 2024 due to the “considerable work” caused by the McCloud remedy.
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NewsNew emissions template launched, savers demand green pensions
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with the launch of a new carbon emissions template for pension schemes, and a new study highlighting savers’ demand for green pensions.
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NewsUCU confirms strike action in February over USS dispute
The University and College Union has confirmed its members will participate in another round of industrial action in February in response to the ongoing dispute with employers over the Universities Superannuation Scheme.
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NewsOmbudsman cracks down on trustees with new anti-scam unit
The Pensions Ombudsman has launched a new specialist team dedicated to investigate breaches of trust, and allegations of dishonest and fraudulent behaviour by pension scheme trustees.
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NewsPension professionals demand dashboards and climate action
On the go: Pensions dashboards and climate change action ranked as the joint top priority for Society of Pension Professionals members, according to a new survey.
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NewsDC market consolidates by nearly 40% in a decade
On the go: The defined contribution market has shrunk by almost 40 per cent over the past 10 years, according to data published by the Pensions Regulator.
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NewsFinancial regulators sign deal to ensure fair compensation
On the go: The UK’s financial regulatory bodies have agreed to collaborate on matters of common interest and ensure fair compensation for consumers.
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NewsUCU proposes solution to avoid further USS strikes
The University and College Union has presented a new set of proposals it says will avert future strike action over Universities Superannuation Scheme benefits.
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NewsOpperman declines to give timetable for auto-enrolment expansion
Industry experts have expressed disappointment at the lack of a timetable for expanding auto-enrolment, following a debate on the topic in Westminster Hall.
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NewsStrong start is key to dashboards success, study finds
On the go: The pensions dashboards initiative needs to hit the ground running and offer a comprehensive ‘find and view’ service from its point of launch in order to maximise its chances of success, according to Ipsos Mori research.
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NewsTPR to accept CDC applications from August
The Pensions Regulator has published its draft code of practice governing authorisation for collective defined contribution schemes, and is set to begin accepting applications from August.
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NewsMaps signs ID verification deal for dashboards programme
On the go: The Money and Pensions Service has signed a £1.8m deal with Dutch outfit Digidentity to provide an identity service for its Pensions Dashboards Programme.
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NewsTPR to publish new CDC code before the end of January
The Pensions Regulator will be consulting on a new code of practice for the authorisation and supervision of collective defined contribution pension schemes before the end of January, chief executive Charles Counsell has revealed.
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NewsAlmost half of workers cannot afford to save for retirement
On the go: Almost half (47 per cent) of individuals not yet in retirement say that spiralling costs have left them unable to save, according to a survey from the Pensions and Lifetime Savings Association.
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NewsUSS switches to green equities, Aviva warns firms on sustainability
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with the Universities Superannuation Scheme moving more than £5bn of its global equity investments to a climate transition index, Aviva firing a warning shot at the companies in which it invests, and BMO setting out its engagement priorities for 2022.