All Work and Pensions Committee articles – Page 10
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News
'Risk-averse' former Carillion FD sold off shares
MPs have published evidence from Carillion's former financial directors, showing that one sold all of his shares in the company as soon as possible after retiring.
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NewsCarillion: Regulator blasted for grasp of key facts on DB
Executives at the Pensions Regulator have been lambasted by MPs for being poorly informed and undermining confidence in pensions, after they appeared unable to answer questions on subjects including “a major KPI” of defined benefit scheme health.
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News
Select committee hearing shows deep divide over CDC
Collective defined contribution could dramatically uplift the final values enjoyed by UK pension savers, a parliamentary select committee has heard, but some experts still doubt its compatibility with pension freedoms and performance in market crashes.
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News
Field: Bring GAD information within ombudsman remit
The chair of the Work and Pensions Committee, Frank Field, wants to see the government bring forward measures to ensure information provided by the Government Actuary's Department to individuals is within the remit of an ombudsman.
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News
Carillion divestor considered lawsuit over reporting
Shareholders of the failed outsourcer Carillion had concerns about the business’ strength as early as 2015, according to a select committee inquiry into its collapse, raising questions about the transparency of the group’s financial reporting.
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News
Field: Carillion directors ‘contemptuous’ of pension obligations
Letters from trustees of the main Carillion pension schemes to the Pensions Regulator suggest that directors of Carillion were “contemptuous” of their pension obligations, according to chair of the Work and Pensions Committee, Frank Field.
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News
Field wants Green to seek TPR clearance for Arcadia sale
Work and Pensions Committee chair Frank Field has written to Sir Philip Green asking him to commit to seeking voluntary clearance from the Pensions Regulator before selling Arcadia Group. Field said he will also write to the Pensions Regulator.
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OpinionField goes in all guns blazing
Editorial: The MPs' pension scheme can rest easy, it does not look like they will have to pay out to Frank Field any time soon.
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NewsSelect committee: Members let down by response to British Steel
The Pensions Regulator, Financial Conduct Authority and the UK government have all let down former members of the British Steel Pension Scheme, according to a scathing report into the scheme’s restructuring and ensuing transfers scandal.
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News
DWP response on scams and guidance 'light on details'
The Department for Work and Pensions has said it will "continue to work swiftly" to bring in a cold-calling ban, but commentators have warned more needs to be done to protect vulnerable savers.
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News
Field: Big four audit firms 'feasting on Carillion carcass'
The Work and Pensions Committee inquiry into the collapse of outsourcer Carillion has turned its scrutiny on the 'big four' professional services companies, and has published the consultancies' responses to queries about their involvement.
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News
Select committees blast Carillion directors
MPs chairing the joint inquiry into the collapse of outsourcer Carillion have lambasted the company's former directors as "delusional", highlighting that recovery plans drafted shortly before the insolvency paid little consideration to pensioners.
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News
UK assets up but savers still look to bricks and mortar
UK occupational pension assets grew 16.9 per cent over 2017 to cement Britain’s position as the second-largest market in the world, but concerning trends in saver attitudes suggest market returns may be masking fundamental problems.
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FeaturesBritish Coal members raise Capita admin concerns
The £9.4bn British Coal Staff Superannuation Scheme has had to calm member concerns at its 2017 annual meeting over its decision to appoint Capita as its administrator last year.
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News
Committees question Santander, FSB and Carillion shareholders
Both the Work and Pensions Committee and Business, Energy and Industrial Strategy Committee have written to the Federation of Small Businesses, HM Revenue & Customs and major shareholders in Carillion to try to get a better idea of operations at the construction outsourcing company.
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NewsMPs accuse Carillion of trying to 'wriggle out' of pension obligations
The Work and Pensions Committee has accused Carillion of trying to “wriggle out” of its pension obligations for the past decade, amid calls for stronger laws to prevent future scandals.
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OpinionCold call from a pensioner
Editorial: An elderly gentleman called me a few days ago at work. He was looking for someone who could help him access his pension pot.
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News
Carillion directors called to joint inquiry
The Work and Pensions Committee and the Business, Energy and Industrial Strategy Committee are starting a joint inquiry into the collapse of Carillion, which has left thousands of employees and pension scheme members in limbo.
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NewsCarillion collapse sparks calls for better DB rules
The collapse of Carillion and impending transfer of some of its defined benefit members into the Pension Protection Fund has raised questions about the suitability of existing pensions laws.
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News
Field probes administrator on Palmer & Harvey pension situation
The select committee has written to the administrators of collapsed wholesaler Palmer & Harvey, with a series of questions about the company’s finances and operations, and the position that leaves the pension fund in.