All The Pensions Regulator (TPR) articles – Page 28
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PodcastsPodcast: Trustees advised to self-certify before Christmas
Podcast: Jo Myerson, trustee director at Ross Trustees, tells Pensions Expert it is important that trustees comply with the Competition and Markets Authority’s self-certification rules early in order to avoid a mad, post-Christmas dash to meet the January 7 deadline. She is joined by David Rae, head of strategic client solutions at Russell Investments, in an episode also covering insolvencies, superfunds and the fallout from the reform of the retail price index.
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News
TPR: Open schemes can maintain riskier investments in bespoke route
On the go: The Pensions Regulator has stood by its new defined benefit funding code following criticisms from open DB schemes, arguing that a bespoke route will allow these pension funds to continue their current investment strategies.
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News
Trustees warned not to miss CMA’s self-certification January deadline
Fears are mounting that Christmas and remote working may cause trustees to miss a vital deadline in January to comply with new Competition and Markets Authority rules.
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NewsWeekly roundup: It’s not easy being Green
Welcome to Pensions Expert’s roundup of a week in which we bade farewell to a few of the high street’s better-known names, and the Pension Protection Fund brightened everyone’s mood with its new doomsday scenario.
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News
Arcadia, Debenhams the first high street dominoes to fall
High street retailer Debenhams became the latest domino to fall following the collapse of Philip Green’s Arcadia Group on Monday, with the pension schemes of both now entering the Pension Protection Fund assessment period.
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News
Pension scheme strategies not fit for ‘purpose’
On the go: The number of trustees having to alter their scheme’s long-term plans in the past year suggests pension scheme strategies are “not fit for purpose”, according to new research.
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News
Cyber security awareness lags as attacks jump threefold
On the go: A third of respondents to a poll by the Pensions and Lifetime Savings Association confessed they did not know their organisation’s cyber security plans, despite cyber crimes surging by 86 per cent in a single quarter this year.
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News
PPF reserves could be ‘wiped out’ by one or two big claims
Pension Protection Fund chief executive Oliver Morley has warned that the lifeboat’s reserves could be wiped out by just a few large claims, while downplaying the risk of a post-Covid run of small-scheme claims.
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News
Surge in AE non-compliance during pandemic
On the go: The number of warnings issued to employers for failing to pay pension contributions for staff has increased by almost 200 per cent between July and September, the Pensions Regulator has said.
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News
Experts wary on BoE governor’s DC pandemic recovery call
The governor of the Bank of England has suggested rules should be relaxed to allow defined contribution schemes to play a part in the post-Covid economic recovery, but experts warn some structural problems remain.
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News
HMRC’s leapfrog on insolvencies to hinder PPF recoveries
Government changes to prioritise the payment of insolvent businesses’ tax bills at the expense of other creditors could reduce recoveries by the Pension Protection Fund and adversely impact levy payers, according to the lifeboat.
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OpinionPressure builds on small DC schemes to consolidate
Covid-19 looks to be accelerating the trend towards consolidation in the defined contribution industry, and the UK government is keen to see the transition take place at an even faster pace.
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News
KPMG ‘helped’ US firm dump £100m Silentnight scheme into PPF
On the go: KPMG allegedly helped US buyout fund HIG Capital force the insolvency of Silentnight to acquire the company without the burden of its £100m pension scheme, in a case brought by the UK’s accounting regulator.
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News
TPR issues guidance on protecting schemes from employer distress
New guidance for trustees on protecting their schemes from employer distress stresses the need for robust protections and integrated risk management.
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News
Labour pushes climate change, superfunds, dashboard amendments
Senior Labour party figures including leader Keir Starmer have put their names to a series of amendments to the pension schemes bill, covering climate change targets, superfunds legislation and the pensions dashboards.
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News
MPs to pressure Opperman into commitment on scam ‘red flags’
Five members of parliament, including Work and Pensions Committee chair Stephen Timms, have tabled an amendment to the pension schemes bill designed to pressure pensions minister Guy Opperman into clarifying the government’s position on pension scams.
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OpinionChanges to pre-packs step in the right direction
The Insolvency Service has stepped in to strengthen the position of defined benefit schemes in pre-pack administrations, but the new veto right is not universal.
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News
Regulator urges sign-up to new anti-scam pledge
On the go: The Pensions Regulator has urged pension providers, trustees and administrators to sign up to a new pledge to protect members from the growing threat of scams.
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News
Most DB schemes do not meet regulator’s fast-track requirements
On the go: Seventy per cent of defined benefit schemes fall short of the Pensions Regulator’s ‘fast-track’ approach as proposed in its new DB funding code, according to analysis from Hymans Robertson.
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News
Open schemes predict £160bn liability hike with new TPR rules
On the go: Open defined benefit schemes could see their liabilities increase between £120bn and £160bn due to the new funding rules proposed by the Pensions Regulator.