All Regulation articles – Page 39
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PodcastsPodcast: The three-step plan to fix the NHS pension scheme
Podcast: The plethora of administrative maladies facing the NHS pension scheme should be addressed by a three stage approach: capping the problem; a reactive process prioritising those closest to retirement; and proactive use of the dashboard, says Peter Glancy, head of policy development at Scottish Widows. He’s joined by Helen Morrissey, corporate PR specialist, long-term savings at Royal London, in an episode also looking at the suggestion of pensions as deposits for first-time buyers.
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News
Philip Green 'disliked the Pensions Regulator immensely'
On the go: Fallen businessman Dominic Chappell told Southwark Crown Court of Philip Green’s intense dislike of the Pensions Regulator, and promises made to plug the deficit of BHS pension schemes.
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News
APPT launches new code of practice for sole trustees
On the go: The Association of Professional Pension Trustees has set out a code of practice for trustees carrying out sole trustee appointments.
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Regulator unveils superfunds guidance for trustees
The Pensions Regulator has published new guidance for defined benefit schemes transferring into a commercial consolidation 'superfund', placing the burden of proof on trustees to show that their plan is in members' best interests.
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Punter Southall revives multi-employer concept in consolidator
As consolidation offers multiply in the defined benefit market and superfunds wait for their first transactions, Punter Southall is proposing a revival of the multi-employer concept for smaller schemes, which could bring their sponsors savings of 80 per cent.
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Sustainability and adequacy still dragging UK's pension system
Data crunch: The UK has fallen one place to 15th in the Mercer CFA Global Pensions Index, despite seeing a marginal improvement in its score, while Covid-19 increases pressure on retirement systems worldwide.
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News
Govt u-turns on fees disclosure in simpler annual statement
The government has abandoned plans to make pension providers include costs and charges in their new simplified annual statements, which could become mandatory for defined contribution schemes in the near future as progress in this area remains slow.
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OpinionSmaller schemes could benefit from ‘fast-track lite’ option
As the consultation on the Pensions Regulator’s funding code of practice closed on September 2, there was general agreement across the industry regarding the proposed twin-track compliance approach, albeit with concerns about whether bespoke will be able to live up to its name — or merely be fast-track in disguise.
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NewsPPF eyes deteriorating credit ratings among DB sponsors
Deteriorating defined benefit sponsor health has led to a three-fold increase in the level of liabilities belonging to schemes that could end up in the Pension Protection Fund over the next 18 months.
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Timms warns transfer rules ‘must be changed’
On the go: Stephen Timms, chair of the Work and Pensions Committee, has warned that transfer rules are not working and must be changed if the industry is to put a stop to pension scams.
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McCloud remedy could take two years to implement, PLSA warns
On the go: The Pensions and Lifetime Savings Association has warned it may take more than two years for the Local Government Pension Scheme to implement the McCloud remedy, casting doubt on the government’s proposed timeframe.
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News
Govt consultation suggests abandoning GMP conversion
The Treasury has indicated it may axe guaranteed minimum pension conversion in a new consultation, with experts citing administrative costs as a reason to ditch the idea.
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Charity participants in LGPS face going concern issues
An Institute of Chartered Accountants of Scotland report laying out guidance for charity trustees on going concern has prompted a second look at their participation in the Local Government Pension Scheme, with experts warning that many could face crippling debt payments as they run out of members.
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Statutory pension transfer rights pause becomes bill amendment
A new amendment restricting the statutory right to a transfer is to be tabled to the pension schemes bill, in an attempt to combat pension scammers.
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CDC pensions ‘would be 70% higher’ than traditional DC
On the go: A new guide published by Willis Towers Watson estimates that collective defined contribution pensions would be on average 70 per cent higher than traditional defined contribution, and 40 per cent higher than typical defined benefit schemes.
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News
TPR warns trustees ‘can’t duck’ from climate change
On the go: As new reporting requirements on environmental, social and governance considerations come into force, the Pensions Regulator has warned trustees to build capacity in this area as climate change is a fundamental consideration for schemes.
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News
LGPS wades into Israel-Palestine row with UN blacklist engagements
At least two Local Government Pension Scheme funds are undertaking engagements with companies linked to contested Israeli settlements, Pensions Expert can reveal.
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OpinionDirect contribution: Are pension reforms driving better ESG?
Although the Covid-19 crisis intensified consumer and investor focus on business behaviour in 2020, environmental, social and governance issues have been on the radar of occupational pension scheme trustees for several years.
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News
Aon warns USS consultation could confuse employers
Aon has warned that the consultation document presented by the trustee of the Universities Superannuation Scheme will be of only limited use to employers, and may leave some unable to make vital decisions.
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News
TPR investigates DRC holiday abuse
On the go: The Pensions Regulator is investigating a number of companies’ pension schemes for allegedly taking advantage of a relaxation in the deficit repayment contribution rules due to the pandemic.