All News articles – Page 195
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ESG amendments to give govt ‘unprecedented new powers’
The Pensions and Lifetime Savings Association has warned that government bodies will have “unprecedented new powers” to interfere in pension scheme investment strategies if an amendment to the pension schemes bill is passed.
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DB deficit increases over January
On the go: The aggregate deficit of the 5,422 defined benefit schemes in the Pension Protection Fund 7800 Index rose by £63.8bn in January.
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Accreditation system for professional trustees launched
On the go: Professional trustees will be able to sit exams in order to gain accreditation in their field from April this year, the Association of Professional Pension Trustees announced on Monday.
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TPR seeks to extend supervision to select administrators
The Pensions Regulator will attempt to build one-to-one relationships with pensions administrators it considers to be of critical importance, in a voluntary extension of the supervision regime it has already introduced for the largest schemes in the UK.
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Only six in 10 pensions to be located by dashboards
On the go: Savers may only be able to locate six out of ten pension pots when pension dashboards are launched unless the industry starts to improve data quality, PensionBee has warned.
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TPR promises more regulatory action on ESG
On the go: The Pensions Regulator has promised more action on pension schemes’ environmental, social and governance practices, rejecting accusations that it is a laggard in this area among UK regulators.
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Webb urges experts to lobby Lords for pension schemes bill changes
On the go: Former pensions minister Sir Steve Webb has urged pension specialists to lobby the House of Lords for changes in the pensions schemes bill, warning that it will pass through the House of Commons unchanged.
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Charity boss jailed for pension fraud
On the go: The former head of a charity for the disabled has been jailed for five years after being found guilty of transferring £250,000 from the organisation’s pension scheme.
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Kent Council fund initiates revamp of its ESG policies
Kent County Council is sprucing up its responsible ownership pension policy as climate concerns become mainstream.
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NewsWhat are the risks of flouting ESG statement rules?
Analysis: A report into trustees’ first efforts on the new statements of investment principles has yielded damning results. But what can regulators, or even members, actually do about it?
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Pension schemes make limited allowances for RPI changes
On the go: Large pension schemes are not expecting a great impact from the proposed changes to the retail price index, with limited allowances included in their sponsors’ 2019 accounts, according to Willis Towers Watson.
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TPR to test trustees’ knowledge in bid to improve governance
The Pensions Regulator plans to conduct checks on trustees’ knowledge to assure governance standards in the industry, and has promised to consider appropriate action where they fall below expectations.
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High Court rules against pension indexation change
On the go: An IT company has seen the High Court dismiss a request to change the indexation used to uprate benefits in its final salary scheme to the consumer price index.
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Industry questions regulators misalignment on chair statements
Analysis: Industry experts have questioned why regulators have taken different approaches when it comes to the disclosure of funds costs and charges in chair statements.
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Successful reforms require Pensions Commission return
On the go: Pension reforms from the mid-2000s, such as the introduction of auto-enrolment, were only implemented successfully because of the Pensions Commission and its membership, research has found.
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Schemes to contribute £1m to Financial Reporting Council levy
On the go: Pension schemes are being asked to contribute £1m to the Financial Reporting Council levy, which will rise to £47.2m in 2020-21 from £41.7m in 2019-20.
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TPR carries out auto-enrolment checks on large employers
On the go: The Pensions Regulator is carrying out compliance spot checks on some of the UK’s largest employers, who were among the first required to comply with auto-enrolment in 2012.
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Govt urged to replace tax relief rules with pension top-up system
On the go: The current tax relief rules should be replaced by a pension top-up system, either through the government or the employer, according to a proposal from Hargreaves Lansdown.
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FCA drops cost requirement for all contract-based funds
On the go: The Financial Conduct Authority has ditched a requirement for workplace pension providers to disclose and illustrate the impact of charges on all of their defined contribution funds, after industry concerns were raised in consultation.
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Majority of GP scheme records are out of date
On the go: Only one quarter of doctors’ pension records are up to date for the 2017-18 tax year, data has shown, leaving GPs at the mercy of unexpected tax bills.