All Work and Pensions Committee articles – Page 6
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News
Half of pension transfers trigger scam warnings
On the go: More than half of pension transfers carried out post-lockdown have flagged scam warnings, research from XPS Pensions has shown.
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News
Timms: Change in law needed to combat scams
On the go: Work and Pensions Committee chair Stephen Timms has warned changes in the law will be needed in order to tackle the growing issue of pension scams.
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News
High Court to clarify if PPF can pay redress to scam victims
The High Court has been asked to clarify whether legislation that created the Fraud Compensation Fund, managed by the board of the Pension Protection Fund, could allow for compensation to victims of pension scams.
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News
TPR conducts internal review after Norton case
On the go: The Pensions Regulator is conducting an internal review to identify if there are lessons to be learnt after the Norton Motorcycles debacle, a case that left members looking to recoup losses in excess of £14m.
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News
Govt unable to assess level of opt-outs during Covid
On the go: The government has claimed it is unable to determine whether opt-outs from auto-enrolled pensions have increased since the Covid-19 pandemic, the minister for pensions and financial inclusion has said.
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OpinionUK avoids Australia’s Covid-19 pensions trap
What can we learn from how governments around the world have responded to the coronavirus pandemic?
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News
MPs launch probe into access of pension savings
The work and pensions committee has announced it will focus on scams in the first stage of its three-part inquiry into the impact of pension freedoms and level of protection for pension savers.
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News
Pensions Ombudsman unhappy with FOS overlap
Pensions Ombudsman Anthony Arter believes the current overlap with the Financial Ombudsman Service should be addressed as the current stance is “confusing and not satisfactory”.
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News
Work and pensions committee urged to open inquiry into scams
On the go: The head of a transparency pressure group has written to the chair of the work and pensions committee to request it opens an inquiry into the scope and extent of pension scams.
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News
DWP to introduce flat-fee limits to protect small pots
The Department for Work and Pensions has concluded that a flat-fee structure implemented by some master trusts does not provide “adequate protection”, especially for lower earners, and is proposing an application limit to protect small pots.
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Regulator warns employers exploiting Covid flexibilities
On the go: The chief executive of the Pensions Regulator has assured MPs that despite its decision to pause enforcement activities, it will make exceptions for employers who treat its intervention as anything other than a temporary cash flow aid.
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News
Maps refuses to give public dashboard launch date
On the go: The chair of the Money and Pensions Service has declined to give a launch date for the public pensions dashboard, since there are too many variables to be considered at this time.
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News
MPs question TPR’s action on Norton pension schemes
On the go: The chair of the Work and Pensions select committee, Labour MP Stephen Timms, has written to the Pensions Regulator questioning its action over the case of Norton Motorcycles and the three pension schemes invested in the company.
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NewsPodcast: Govt and regulators urged to review chair statements
Podcast: Government and regulators should rethink schemes’ chair statements, as they have become a regulatory compliance tool for the pensions industry, according to Darren Philp, director of policy and communications at Smart Pension, and Judith Fish, professional trustee at Dalriada Trustees. The experts discuss, among other subjects, the recent fine received by the Financial Conduct Authority from the Pensions Regulator due to pension failures.
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News
Former pensions minister appointed select committee chair
On the go: Former pensions minister Stephen Timms has been elected as chair of the Work and Pensions Select Committee.
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News
Four candidates named for Work and Pensions select committee chair
On the go: Debbie Abrahams, Chris Bryant, Stephen Timms and Karen Buck are the Labour MPs that so far have been nominated for the election of the next Work and Pensions select committee chair.
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News
Calls for next government to revive multi-employer schemes bill
On the go: The boss of a small Scottish plumbing company hit with a £1.2m pensions bill is calling for the next government to revive a 2018 proposal, which would end the current issues affecting sponsors of the Plumbing and Mechanical Services Industry Pension Scheme.
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News
Academics union questions regulator’s oversight of USS
Academics have expressed disquiet over the role of the Pensions Regulator in the governance in one of the largest occupational pension schemes in the UK.
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NewsMPs up pressure on govt over non-commercial dashboard
The government’s failure to commit to a rollout timetable for a new pensions dashboard with state pension data was criticised on Saturday by the Work and Pensions Select Committee.
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News
Pension schemes bill overshadowed by Brexit
A pension schemes bill has been included in the Queen’s Speech as expected, but critics say the government’s Brexit headaches and lack of majority mean it is little more than a manifesto pledge.