All Regulation articles – Page 45
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NewsBritish Airways resumes pension transfer activities
British Airways is to resume its pension transfer activities following a short suspension due to the impact of the coronavirus crisis, Pensions Expert can reveal.
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Regulator rebuffs calls to abandon new DB code
On the go: The Pensions Regulator has dismissed calls from industry to halt its work on a new defined benefit funding code, arguing that the affordability principle it espouses is “even more important and relevant in the light of Covid-19”.
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Regulator warns trustees to prioritise pension switches
On the go: The Pensions Regulator has urged trustees to prioritise pension switches and ensure they are completed in good time, in an attempt to ensure savers do not miss out during the Covid-19 pandemic.
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One in five sponsors considering deficit holidays
On the go: Almost a fifth of UK defined benefit scheme sponsors have requested or are considering a deficit repayment contribution holiday, according to research from Isio.
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Regulator to be empowered by expansion of ‘snoopers’ charter’
The Pensions Regulator is to be given new powers including the right to harvest communications data, in order to prevent “serious crime”, according to draft legislation published last month.
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Falling support for TPR’s new funding regime
On the go: Support for the Pensions Regulator’s vaunted new defined benefit funding regime may be falling, according to a report by Aon.
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OpinionNot all asset managers are created equal
Data crunch: In the first piece of this series, I stated that asset managers were not the problem when it comes to cost collection. That said, not all managers are equally committed to, or enthusiastic about, transparency.
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PodcastsPodcast: McClymont - UK still has far too many master trusts
Podcast: The UK master trust market is still lacking the scale needed to provide the best outcomes for members, argues Gregg McClymont, director of policy at The People’s Pension. He and Pat Sharman, managing director at Caceis, discuss concerns from the Pensions Regulator regarding the investment strategies pursued by some of the UK’s authorised master trusts, among other topics.
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ITV scheme trustees approve deficit repayment holiday
On the go: The trustees of ITV’s defined benefit schemes have agreed to a deficit repayment contribution delay, amid action from the broadcaster to mitigate the impact of Covid-19.
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Ombudsman sides with Aegon on transfer to 'bogus' pension scheme
On the go: The Pensions Ombudsman has ruled that Aegon did not fail in its duty of care when allowing a member to transfer his savings to a “bogus employer”, once again emphasising that trustees would not be held responsible for certain historic cases of fraud.
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Nest member waits two years to recover £80 in missed contributions
The Pensions Ombudsman has finally brought to a close a woman’s two year hunt for £80 in missed contributions from her employer.
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Deloitte considers pension contribution cut
On the go: Accountancy firm Deloitte is proposing to cut the employer pension contribution for its UK staff in an attempt to cut costs amid the coronavirus pandemic.
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OpinionRegulator striking the right balance on deficit holidays
Coronavirus is turning the world upside down for pension trustees. Prior to the crisis, trustees were being pushed to take a tougher line by demanding employers plough more cash into their defined benefit plans.
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Pensions Regulator names new auto-enrolment director
On the go: The Pensions Regulator has appointed Mel Charles as director of automatic enrolment, following the departure of Darren Ryder earlier this year.
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Return of the zombies: Can trustees ‘game’ PPF?
Defined benefit trustees linked to struggling employers face tough decisions about whether to tip their sponsors into insolvency or increase their burden on the Pension Protection Fund amid the onset of a global recession, in what experts have called a regulatory grey area.
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TPR signals renewed focus on sponsor affordability
The Pensions Regulator has directed defined benefit trustees to focus on the affordability of payments into their schemes by sponsoring employers, urging collaboration to link business recovery to increased member security.
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Schemes to issue pension transfer warning to savers
On the go: Pension scheme trustees are to warn members about the risks of transferring out of their defined benefit scheme amid the Covid-19 crisis.
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Suspended deficit contributions could reach £1bn
On the go: Up to £1bn in deficit contributions could be suspended this year as trustees approve payment holidays in a bid to help sponsors survive the Covid-19 crisis.
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PodcastsPodcast: Trustees cautioned to be vigilant about relaxed rules
Podcast: Trustees should not take advantage of easements introduced by the Pensions Regulator, which has relaxed its enforcement rules and reporting guidelines, warns John Reeve, director at Cosan Consulting. He and Kate Smith, head of pensions at Aegon, discuss the recent changes to the pensions industry brought by the Covid-19 pandemic, alongside other issues.
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TPR clarifies treatment of salary sacrifice under furlough
On the go: The Pensions Regulator has issued guidance to large employers stating they must continue to pay furloughed workers’ pension contributions as normal where they have entered into a salary sacrifice arrangement.