All Pension Schemes Bill articles – Page 4
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News
Volunteer schemes and providers to test pensions dashboards
On the go: The Pensions Dashboards Programme is planning to start extensive testing with individuals, dashboard providers, and volunteer pension providers and schemes, after it publishes a first version of the pensions dashboards data standards this autumn.
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News
Podcast: Pension schemes bill could have ‘unintended consequences’
Podcast: The pension schemes bill defines criminal offences so broadly that it could have “unintended consequences” for the running of pension schemes, potentially stifling legitimate corporate activity. Tiffany Tsang, Local Government Pension Scheme and defined benefit policy lead at the Pensions and Lifetime Savings Association, and Eversheds Sutherland partner Jeremy Goodwin both agree that more clarity is needed, in an episode also covering fallout from the passage of the insolvency bill, the launch of the Make My Money Matter campaign, and a 16th century pension scheme bailout.
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News
Peers push for restriction on commercial dashboards
On the go: Labour peers are pushing for an amendment to the pension schemes bill that will see a 12-month restriction placed on providers looking to operate their own pensions dashboards.
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News
Lords looks to mandate guidance on pension transfers
On the go: An amendment to the pension schemes bill could see savers forced to obtain guidance before they are allowed to proceed with a pension transfer.
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News
Carlsberg DB scheme to be absorbed into newly formed brewery
On the go: Carlsberg will remain the sole sponsor of its UK defined benefit pension scheme after it is absorbed into a joint venture with fellow beer producer Marston’s.
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News
Pension bill progress halted due to emergency health laws
On the go: Progress on the pension schemes bill has come to a halt following the government’s commitment to hurry through emergency health legislation to combat the effects of coronavirus.
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News
New criminal sanctions not meant to disrupt businesses, Govt claims
The government has guaranteed that new criminal sanctions introduced in the pensions schemes bill are not intended to disrupt legitimate corporate activity, but has refused to revise “widely” worded powers to go after those linked to defined benefit schemes.
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News
Podcast: Govt and regulators urged to review chair statements
Podcast: Government and regulators should rethink schemes’ chair statements, as they have become a regulatory compliance tool for the pensions industry, according to Darren Philp, director of policy and communications at Smart Pension, and Judith Fish, professional trustee at Dalriada Trustees. The experts discuss, among other subjects, the recent fine received by the Financial Conduct Authority from the Pensions Regulator due to pension failures.
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News
New rules for pension transfers to cost industry £1m
On the go: New rules to prevent scams are expected to cost the industry and employers about £1m in their first year and impact more than 160,000 pension transfers.
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News
Pensions dashboards unlikely to go live this year
On the go:Despite pensions dashboards having both industry-wide and government backing, it is unlikely that the technology will be delivered “any time soon”, Sir Steve Webb warned.
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News
Elections 2019: Pension reforms expected after Tory majority
Sweeping pension system reforms are expected following the Conservative Party’s comprehensive victory in Thursday’s general election, with more powers coming for the regulator, a tax review for the higher and lower paid, and experts calling for more work on retirement adequacy.
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News
Consultation on DB funding code expected early 2020
On the go: A consultation on a revised defined benefit funding code will be launched at the start of next year, according to Charles Counsell, chief executive of the Pensions Regulator.
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Opinion
Will risk-sharing schemes ever take off in the UK?
The current pension schemes bill introduces a new shared-risk arrangement, in which at least some of the benefits can be provided through collective defined contribution plans. But what would the real-world application mean in the UK pensions market?
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Opinion
Webb: My pension schemes bill is focused on the saver's experience
Last week, I had the privilege of introducing the pension schemes bill to Parliament, and seeing it receive an unopposed second reading.
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