More Law & Regulation – Page 8
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NewsAdequacy stage of Pensions Review ‘delayed by Treasury’
The government has postponed the adequacy phase of its Pensions Review, according to reports, following significant recent increases to business costs.
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NewsFCA proposes ‘targeted support’ for vulnerable pension savers
The Financial Conduct Authority (FCA) is considering giving pension providers the ability to provide “targeted support” to certain groups of people to help them make decisions about their retirement savings.
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NewsPensions industry supports delay to PPF decision on 2025-26 levy
The Pension Protection Fund (PPF) has delayed the final decision on its 2025-26 industry levy until the end of January as it lobbies for the ability to reduce payments to zero.
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NewsPLSA leads engagement efforts over megafunds plans
UK pension schemes are seeking to engage positively with the government over plans to supercharge consolidation and increase investment in domestic assets.
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NewsTPR moving towards prudential regulatory approach
The regulator intends to move to a more prudential style of regulation as pension schemes grow larger and the government encourages consolidation.
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NewsSimplify CDC rules to ensure success, says pensions industry
Proposed regulations for CDC pension schemes need refinement to ensure they succeed for potential multi-employer arrangements, according to industry experts.
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NewsCDC proposals ‘unduly onerous’, warns SPP
Planned rules for multi-employer CDC schemes could inadvertently restrict providers’ ability to communicate and undermine the “regulatory intent” of the government’s proposals, says the industry body.
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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
TPR will send 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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NewsIFS’s Paul Johnson warns of 'big risks' in Budget
Chancellor Rachel Reeves is taking some big risks with her first Budget, according to the director of the Institute for Fiscal Studies (IFS) Paul Johnson.
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NewsBudget 2024: Reeves raises employer national insurance
Changes also include higher employment allowance and the inclusion of inherited pensions in the inheritance tax system.
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NewsBudget 2024: National insurance hike ‘terrible news’ for pension adequacy efforts
Former pensions minister Steve Webb argues that higher costs for employers will make it harder to increase pension contributions later.
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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 the 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 FCA and TPR 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.