All Regulation articles – Page 27
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PodcastsPodcast: Treasury ‘ignored advice’ in public sector pension reforms
Podcast: A report from the Public Accounts Committee about the public sector pensions reform has showed that Treasury ignored advice that could have prevented the McCloud case, argues Ian Neale, co-founder of Aries Insight. He is joined by Sackers partner Claire Carey, in an episode also covering industry consultation fatigue and the new Task Force on Climate-related Financial Disclosures reporting requirements.
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NewsFTSE 350 DB schemes back on track after Covid-19 blow
On the go: The majority of defined benefit schemes from FTSE 350 companies are back on track in terms of their funding goals, after being hit in 2020 by the economic crisis caused by Covid-19, according to research from Barnett Waddingham.
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NewsESG ramps up in importance for trustee boards
On the go: Environmental, social and governance factors are a hot topic for trustees, with 53 per cent of trustee boards considering it an important agenda topic, new research has shown.
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NewsHigh Court clarifies rules over pension back payment arrears
The High Court has further clarified the procedure for paying arrears when a member has not claimed a back payment within the usual six-year period, confirming that scheme rules will determine whether trustees have discretion as to whether those benefits have been forfeited.
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NewsRushing DC consolidation could hurt member outcomes
The Department for Work and Pensions wants to speed up consolidation among schemes with less than £5bn in assets. Although the initiative was broadly welcomed, experts have warned that rushing its implementation could worsen member outcomes.
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NewsFCA sets out climate-related disclosure rules
The City watchdog is looking to introduce climate-related financial disclosure rules for pension providers, asset managers and life insurers, in a move that will see it align with government action in this area.
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NewsSchemes urged to hire independent trustees for better governance
On the go: Pension schemes should appoint an independent professional trustee that can help navigate the increasing complexity and risk involved in day-to-day operations, Willis Towers Watson has advised.
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NewsIndustry focus shifts toward the ‘S’ in ESG
Three quarters of Pensions and Lifetime Savings Association members intend to review their social policy in the coming year, according to its response to the government’s consultation focusing on social risks and opportunities for occupational pension schemes.
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NewsMP tables bill to clarify rules around GMP conversion
On the go: A private members’ bill has been tabled in the House of Commons that aims to amend and clarify existing rules around guaranteed minimum pension conversion.
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NewsBespoke funding route could save charities 65% in cash contributions
On the go: Charities could cut their defined benefit cash contributions by between 35 and 65 per cent if they opt for the bespoke option over the fast-track route in the new DB funding code, according to analysis by Hymans Robertson.
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NewsMore advice needed on ‘fiendishly complicated’ pension freedoms
Pension freedoms have presented members with “fiendishly complicated” choices and providers are being stymied by the blurred line between guidance and advice, a hearing of the Work and Pensions Committee has heard.
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NewsACA warns of inadvertent damage to pensions advice market
On the go: The Association of Consulting Actuaries has warned HM Revenue & Customs against causing accidental damage to the pensions advice market.
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NewsUniversities back alternative proposals to reform USS
Employers representing 95 per cent of the Universities Superannuation Scheme membership have backed measures proposed by Universities UK, including enhanced employer covenant provision, in a bid to end the impasse over the scheme’s 2020 valuation.
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NewsGovernment actuary proposes cost control mechanism reform
Martin Clarke, the government actuary, has proposed changing the cost-control mechanism used in the reformed public service pension schemes in a bid to tackle the “perverse outcome” of the 2016 valuation.
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NewsTPR’s intervention guarantees £730m protection for Sanofi scheme
On the go: The Sanofi Pension Scheme has received a new guarantee package from its sponsor, including additional protection of up to £730m in the event of insolvency in the next 20 years, following intervention from the Pensions Regulator.
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OpinionSchemes should prepare for new TPR contribution notice regime
The Pension Schemes Act 2021 enhanced the Pensions Regulator’s powers to issue contribution notices, which are orders requiring that money be paid into a pension scheme that has been damaged by behaviour.
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OpinionDon’t ‘do’ pensions? Think again…
Norton Rose Fulbright’s Claire O’Donnell and Julia Chirnside explain how corporates can prepare for the increased notification requirements to the Pensions Regulator that could have an impact for many merger and acquisition transactions.
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NewsOmbudsman reports failing AE employer to the regulator
On the go: The Pensions Ombudsman has upheld a complaint against accounting company Berics over £678 in unpaid auto-enrolment contributions, reporting the employer to the Pensions Regulator.
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NewsTimms urges action on fraudsters posing as Dalriada trustees
Work and Pensions Committee chair Stephen Timms has written to the City of London Police asking why no urgent action has been taken against fraudsters masquerading as representatives of Dalriada.
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NewsCalls for NHS pension reform to tackle 'medical staffing crisis'
On the go: The British Medical Association has used a Public Accounts Committee report criticising the Treasury’s implementation of public sector pension reforms to call for further changes to the NHS Pension Scheme in order to tackle the medical staffing crisis.