More Law & Regulation – Page 91
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NewsFCA lambasted for lethargy on contingent charging
The Financial Conduct Authority’s proposals to ban controversial charging structures were welcomed by the industry on Tuesday, but some have criticised the regulator for being slow to act.
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Select committee presses govt on superfund commitment
On the go: The Work and Pensions Committee has voiced its concerns about the government allowing the creation of defined benefit superfunds in the absence of a dedicated regulatory regime.
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Half of public sector pension boards meet fewer than four times a year
On the go: Only half of public sector schemes held four or more pension board meetings in the previous 12 months, the Pensions Regulator has found.
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Maps recruiting for dashboard steering group
On the go: The Money and Pensions Service launched a recruitment drive on Thursday for members of a steering group for the pensions dashboard, as the project inches closer to fruition.
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Young teachers opting out of pensions as cost of living bites
On the go: There is a small but discernible trend for young teachers to opt out of the Teachers’ Pensions Scheme, with unions blaming the high costs of living and low pay.
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Unions call for greater action on executive pay and pensions gap
Unions called for policymakers to explore way of curbing bumper executive pay and pensions on Wednesday, as unequal remuneration falls under the cross-hairs of Frank Field’s Work and Pensions Committee.
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Lancashire council explores free transport for WASPI women
On the go: Lancashire County Council was urged to explore providing women affected by equalisation with concessionary travel on Thursday, as campaigners await the High Court’s judicial review of the government’s policy.
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Standard Chartered under fire over bumper executive pensions
On the go: The Work and Pensions Committee has demanded answers from Standard Chartered over its pension payouts to executives, escalating the debate over bumper retirement awards at the top of corporate structures.
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NewsMPS surplus share uplift would not be 'transformational', say trustees
Former miners campaigning for the government's 50/50 split of their pension fund’s surplus to be renegotiated have been told by their own trustees the impact of such a change could be underwhelming.
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NewsCritics rebuke Hancock's 'narrow' NHS pension consultation
The British Medical Association poured cold water on the government’s NHS pension consultation on Monday, criticising its proposal of '50:50' accrual as too narrow and calling for the annual and tapered allowance to be scrapped altogether.
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Transfers head list of complaints at the Pensions Ombudsman
On the go: Complaints to the Pensions Ombudsman rose by 5 per cent according to its recently published annual report and accounts for 2018/19.
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Military pension verdict could open floodgates for public sector claimants
On the go: A woman has won the right to her late partner’s military pension in a Court of Appeal ruling on the rights of unmarried couples.
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TPR shows off tougher approach alongside single-source code of practice
The Pensions Regulator's use of its frontline powers has risen by a third over the past year, it has revealed, as the watchdog cements its “clearer, quicker, tougher” ethos into its practice.
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Employers dodging pension duties by changing their identity, says TPR
On the go: A number of employers appear to have tried to hide their failure to comply with the law by disguising themselves behind a new name, The Pensions Regulator has revealed.
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NewsFCA's move to shrink IFA market poses trustee challenges
The Financial Conduct Authority defended its increase to the compensation limit on Wednesday, accepting that the financial advice market was shrinking but reaffirming that it will help protect consumers.
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Treasury accepts pension reforms were unlawful
On the go: The Treasury accepted that its 2015 public sector pension reforms were unlawful on Monday, with the court judgment likely to cost the department £4bn a year and restrict the next chancellor’s spending.
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Regulator hits back over influence on USS valuation
The Pensions Regulator has defended its record over the Universities Superannuation Scheme, after the Work and Pensions Committee questioned the regulator’s role in USS’s contested 2017 valuation.
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Supreme Court denies BT right to appeal in £2bn indexation battle
On the go: The Supreme Court has denied BT the opportunity to appeal against the Court of Appeal’s ruling preventing the company from downgrading the inflation protection given to some of its defined benefit members.
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APPT delays start of professional trustee accreditation system
On the go: The start of the new process for accrediting professional trustees has been delayed. Originally set to start in the summer of 2019, arrangements are now expected to be finalised later this year.
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£2.2bn Mercer Master Trust gains authorisation
On the go: The £2.2bn Mercer Master Trust has gained authorisation from the Pensions Regulator. The trust has 71,000 savers in the UK and is the 11th trust to gain the watchdog’s approval.