More Law & Regulation – Page 9
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NewsPension scams cost victims more than £26m - PMI
A freedom of information (FOI) request has revealed that 1,595 pension scams were reported between 2020 and 2022.
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NewsPensions industry urges for levy change as PPF halves 2024/25 estimate to £100m
The Pension Protection Fund (PPF) said it had been able to reduce the levy from an original estimate of £200m to £100m in the financial year 2024/25, but industry watchers are urging for a change in the law to allow the amount to reflect improved scheme funding.
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NewsState pension triple lock could cost up to £45bn a year by 2050
As the Office for National Statistics prepares to release its estimate for average earnings growth, the Institute of Fiscal Studies (IFS) issues a warning over the cost of the triple lock to taxpayers.
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NewsPensions, savings and inflation expected to be addressed in Chancellor's Autumn Statement
The government has confirmed this year’s Autumn Statement will take place on 22 November, and has pledged to halve inflation by the end of the year.
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NewsDWP’s DC retirement income consultation receives thumbs up from industry
There has been broad support for theDWP’s consultation on defined contribution (DC), or the so-called Mansion House reforms, particularly in relation to how savers access income in retirement.
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NewsMansion House surpluses: pie in the sky or route to self sufficiency?
Barnett Waddingham’s assertion that the so-called Mansion House ‘reforms’ would have delivered as much as £50 billion in surpluses to FTSE 350 companies, had the strategy already been in place, received a mixed reception when wereported on it on 21 August.
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NewsTPR publishes McCloud guidance on annual benefit statements for public schemes
The Pensions Regulator (TPR) haspublished guidance for public service pension schemes on producing annual benefit statements over the next two years to reflect the McCloud remedy.
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News‘Economically inactive’ over fifties lack confidence in their skills, not a will to work
The government has put a great deal of effort – not to mention tax reform – into encouraging older workers back into the workplace.
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NewsSPP: Decumulation reforms must build on successes of auto enrolment policies
The Society of Pension Professionals (SPP) has issued feedback to the the Department of Work and Pensions (DWP)’s consultations on small pots and helping savers understanding their pension choices/decumulation.
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NewsHMRC fills its boots on £2.6 billion bumper IHT receipts
HM Revenue and Customs (HMRC) has disclosed thatinheritance tax (IHT) receipts for the latest period (April to July) were £2.6 billion, £0.2 billion higher than in the same period in the previous year. July alone saw £603 million raised.
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NewsACA demands HMRC have LTA abolition rules ready by October
The Association of Consulting Actuaries (ACA) has called on HMRC to have put in place the rules to abolish the lifetime allowance (LTA) by October.
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News'Furious' TPR workers to go on strike for equal pay
Pensions Regulator staff who are members of the Public and Commercial Services (PCS) union are to strike for two weeks over pay.
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NewsGovernment dodges PAC demands claiming they are 'policy matters'
The government has rejected recommendations made by Parliament’s Public Accounts Committee (PAC) that it should review the indexation of the Pension Protection Fund (PPF) and initiate an independent review of AEAT members’ complaints.
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NewsPPF 7800 Index: Inflation 'dip' and equity rally helps to boost pension surplus by £9.1bn
The aggregate surplus of the 5,131 schemes in the Pension Protection Fund 7800 Index increased to £446bn at the end of July 2023, compared to £437bn the previous month.
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NewsAPPT: Trustee accreditation scheme 'fit for purpose'
In its report the Association of Profession Pension Trustees (APPT) said its accreditation scheme was pitched at an appropriate level and fit for purpose if accreditation was made mandatory.
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NewsRoyal London: Pensions new business helps profits rise 16 per cent
Growth in workplace pensions new business contributions and increased expected returns on its assets helped Royal London's operating profit before tax rise 16 per cent to £127m year on year during the first half of 2023.
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NewsHigh Court supports trustee's petition to wind up Biwater scheme sponsors
The High Court has supported the decision by the trustee of the Biwater Retirement and Security Scheme to petition to wind up the scheme’s sponsoring employers.
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NewsBank of England raises rates to 5.25%
Bank of England raises rates to 5.25 per cent, as economists predict ‘at least’ another two more rate rises this year.
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NewsDWP and state pension: Contracted-out members reminded of inflation timebomb
Savers who contracted out of the state pension are being warned that the guaranteed part of their pot, may not keep up with inflation.
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NewsRailpen awards £2bn credit mandate to Neuberger Berman
Railpen, one of the largest pension funds in the UK, has awarded a £2bn mandate to manage a liquid multi-asset credit strategy to Neuberger Berman, a private, independent, and employee-owned investment manager.