Professional Pensions www.professionalpensions.com TPR publishes Q4 compliance and enforcement bulletin <img alt="TPR publishes Q4 compliance and enforcement bulletin" src="https://www.professionalpensions.com/api/v1/wps/7c905ae/2b6f5c16-be10-4a87-a44a-771599780daa/0/Regulation-strategy-185x114.jpg" /> <p><!--summary start--> The Pensions Regulator (TPR) has published its latest compliance and enforcement bulletin, showing how it used its frontline regulation and auto-enrolment (AE) powers over the six months to December 2023. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/7c905ae/2b6f5c16-be10-4a87-a44a-771599780daa/0/Regulation-strategy-185x114.jpg https://www.professionalpensions.com/news/4191082/tpr-publishes-q4-compliance-enforcement-bulletin https://www.professionalpensions.com/news/4191082/tpr-publishes-q4-compliance-enforcement-bulletin https://www.professionalpensions.com/news/4191082/tpr-publishes-q4-compliance-enforcement-bulletin Thu, 28 Mar 2024 14:29:44 +0000 TPR's General Code comes into force <img alt="TPR&#39;s General Code comes into force" src="https://www.professionalpensions.com/api/v1/wps/92e66ac/0e4bf74e-b662-4ee1-9318-4d93979bf91e/4/iStock-989179618-2-185x114.jpg" /> <p><!--summary start--> The Pension Regulator’s (TPR) General Code of Practice is set to come into force before Easter, meaning schemes will need to comply with governance requirements. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/92e66ac/0e4bf74e-b662-4ee1-9318-4d93979bf91e/4/iStock-989179618-2-185x114.jpg https://www.professionalpensions.com/news/4190248/tprs-code-comes-force https://www.professionalpensions.com/news/4190248/tprs-code-comes-force https://www.professionalpensions.com/news/4190248/tprs-code-comes-force Wed, 27 Mar 2024 10:23:55 +0000 UPDATED: DWP publishes staging dates for pensions dashboards connection <img alt="UPDATED: DWP publishes staging dates for pensions dashboards connection" src="https://www.professionalpensions.com/api/v1/wps/fc94437/0e112fd9-9eac-4a87-b0d3-122fc4473e80/11/DWP-building-936963136-185x114.jpg" /> <p><!--summary start--> The Department for Work and Pensions (DWP) has published guidance setting out a staged timetable for pension schemes to connect to the pensions dashboards ecosystem. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/fc94437/0e112fd9-9eac-4a87-b0d3-122fc4473e80/11/DWP-building-936963136-185x114.jpg https://www.professionalpensions.com/news/4189487/dwp-publishes-staging-dates-pensions-dashboards-connection https://www.professionalpensions.com/news/4189487/dwp-publishes-staging-dates-pensions-dashboards-connection https://www.professionalpensions.com/news/4189487/dwp-publishes-staging-dates-pensions-dashboards-connection Mon, 25 Mar 2024 17:14:51 +0000 PPF proposes bespoke s143 valuation assumption for smaller schemes <img alt="PPF proposes bespoke s143 valuation assumption for smaller schemes" src="https://www.professionalpensions.com/api/v1/wps/e5d65ec/7b25e5f3-00f1-4114-9e84-d02f7c042a28/0/Bhagwan-Shalin-PPF-185x114.jpg" /> <p><!--summary start--> The Pension Protection Fund (PPF) has launched a consultation on proposed changes to the assumptions it uses for certain valuations which provide an estimated price for securing PPF benefits with bulk annuity providers in the buyout market. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/e5d65ec/7b25e5f3-00f1-4114-9e84-d02f7c042a28/0/Bhagwan-Shalin-PPF-185x114.jpg https://www.professionalpensions.com/news/4189352/ppf-proposes-bespoke-s143-valuation-assumption-schemes https://www.professionalpensions.com/news/4189352/ppf-proposes-bespoke-s143-valuation-assumption-schemes https://www.professionalpensions.com/news/4189352/ppf-proposes-bespoke-s143-valuation-assumption-schemes Mon, 25 Mar 2024 14:36:28 +0000 Waspi women should be compensated for state pension age change failures <img alt="Waspi women should be compensated for state pension age change failures" src="https://www.professionalpensions.com/api/v1/wps/4682740/cde34136-5ce7-41ad-8ba1-67200604896d/27/Ros-Altmann-roi-1-185x114.jpg" /> <p><!--summary start--> Thousands of women may have been affected by the Department for Work and Pensions’ (DWP’s) failure to adequately inform them that the State Pension age had changed, an investigation by the Parliamentary and Health Service Ombudsman (PHSO) has found. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/4682740/cde34136-5ce7-41ad-8ba1-67200604896d/27/Ros-Altmann-roi-1-185x114.jpg https://www.professionalpensions.com/news/4188325/waspi-women-compensated-pension-age-change-failures https://www.professionalpensions.com/news/4188325/waspi-women-compensated-pension-age-change-failures https://www.professionalpensions.com/news/4188325/waspi-women-compensated-pension-age-change-failures Thu, 21 Mar 2024 15:15:36 +0000 AI and legal disputes – what's next for pensions? <img alt="AI and legal disputes – what&#39;s next for pensions?" src="https://www.professionalpensions.com/api/v1/wps/8c4ba78/6b7dd8aa-0589-4374-9fb9-3c1f5fc28b66/1/Edwards-Earl-Chris-Stephenson-Harwood-2022-roi-1-185x114.jpg" /> <p><!--summary start--> Even the most old-fashioned of advisors and consultants are learning that artificial intelligence (AI), and particularly generative AI (which creates novel content, text and ideas), does have its uses. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/8c4ba78/6b7dd8aa-0589-4374-9fb9-3c1f5fc28b66/1/Edwards-Earl-Chris-Stephenson-Harwood-2022-roi-1-185x114.jpg https://www.professionalpensions.com/opinion/4187450/ai-legal-disputes-whats-pensions https://www.professionalpensions.com/opinion/4187450/ai-legal-disputes-whats-pensions https://www.professionalpensions.com/opinion/4187450/ai-legal-disputes-whats-pensions Wed, 20 Mar 2024 06:42:25 +0000 HMRC publishes LTA Finance Act regulations <img alt="HMRC publishes LTA Finance Act regulations " src="https://www.professionalpensions.com/api/v1/wps/ad14242/f56dc85b-63f1-48f3-a43f-cd3311485247/2/HMRC-185x114.jpg" /> <p><!--summary start--> HM Revenue & Customs (HMRC) has today (18 March) published new regulations pertaining to the abolishment of the lifetime allowance (LTA) in the Finance Act 2024. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/ad14242/f56dc85b-63f1-48f3-a43f-cd3311485247/2/HMRC-185x114.jpg https://www.professionalpensions.com/news/4186757/hmrc-publishes-lta-finance-act-regulations https://www.professionalpensions.com/news/4186757/hmrc-publishes-lta-finance-act-regulations https://www.professionalpensions.com/news/4186757/hmrc-publishes-lta-finance-act-regulations Mon, 18 Mar 2024 15:18:27 +0000 Legal Review: What will cybersecurity look like in 2024? <img alt="Legal Review: What will cybersecurity look like in 2024?" src="https://www.professionalpensions.com/api/v1/wps/7d7f2b3/f68b8587-fd69-4aaf-a252-b2ab26694d19/2/Samantha-Howell-Burges-Salmon-2024-185x114.jpg" /> <p><!--summary start--> It is undeniable that 2023 was a wake-up call for the pensions industry when it comes to cybersecurity. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/7d7f2b3/f68b8587-fd69-4aaf-a252-b2ab26694d19/2/Samantha-Howell-Burges-Salmon-2024-185x114.jpg https://www.professionalpensions.com/opinion/4186489/legal-review-cybersecurity-look-2024 https://www.professionalpensions.com/opinion/4186489/legal-review-cybersecurity-look-2024 https://www.professionalpensions.com/opinion/4186489/legal-review-cybersecurity-look-2024 Mon, 18 Mar 2024 10:03:39 +0000 TPR says small schemes winding up after value for member exercise <img alt="TPR says small schemes winding up after value for member exercise" src="https://www.professionalpensions.com/api/v1/wps/974fcb7/3e074507-8aa4-493d-b04f-184376befe89/4/Charles-Mel-TPR-2020-roi-1-185x114.jpg" /> <p><!--summary start--> The Pensions Regulator (TPR) says 16% of small defined contribution (DC) schemes included in a pilot value for members exercise have opted to wind-up after concluding they do not offer good value for members. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/974fcb7/3e074507-8aa4-493d-b04f-184376befe89/4/Charles-Mel-TPR-2020-roi-1-185x114.jpg https://www.professionalpensions.com/news/4185943/tpr-small-schemes-winding-value-member-exercise https://www.professionalpensions.com/news/4185943/tpr-small-schemes-winding-value-member-exercise https://www.professionalpensions.com/news/4185943/tpr-small-schemes-winding-value-member-exercise Fri, 15 Mar 2024 10:53:01 +0000 DWP publishes Social Factors guidance for trustees <img alt="DWP publishes Social Factors guidance for trustees" src="https://www.professionalpensions.com/api/v1/wps/95dff0b/5e822441-cc4e-4dda-8f15-8a5984f4684b/3/Nikulina-Luba-IFM-Investors-2023-185x114.jpg" /> <p><!--summary start--> The Department for Work and Pensions (DWP) has published its guidance on the Taskforce on Social Factors for pension scheme trustees. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/95dff0b/5e822441-cc4e-4dda-8f15-8a5984f4684b/3/Nikulina-Luba-IFM-Investors-2023-185x114.jpg https://www.professionalpensions.com/news/4183158/dwp-publishes-social-factors-guidance-trustees https://www.professionalpensions.com/news/4183158/dwp-publishes-social-factors-guidance-trustees https://www.professionalpensions.com/news/4183158/dwp-publishes-social-factors-guidance-trustees Thu, 7 Mar 2024 14:40:34 +0000 Robin Ellison: Is there any future for TPR? <img alt="Robin Ellison: Is there any future for TPR?" src="https://www.professionalpensions.com/api/v1/wps/edaeda5/e8c7bf9c-9ac5-450d-bcf3-c663a9681478/6/Ellison-Robin-Pinsent-Masons-roi-1-185x114.jpg" /> <p><!--summary start--> In the latest in his series of monthly columns for Professional Pensions, Robin Ellison asks if there is any future for TPR and questions if consolidation is a free lunch. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/edaeda5/e8c7bf9c-9ac5-450d-bcf3-c663a9681478/6/Ellison-Robin-Pinsent-Masons-roi-1-185x114.jpg https://www.professionalpensions.com/opinion/4182842/robin-ellison-future-tpr https://www.professionalpensions.com/opinion/4182842/robin-ellison-future-tpr https://www.professionalpensions.com/opinion/4182842/robin-ellison-future-tpr Thu, 7 Mar 2024 09:41:00 +0000 TPR told 'further reflection required' over statements of strategy <img alt="TPR told &#39;further reflection required&#39; over statements of strategy" src="https://www.professionalpensions.com/api/v1/wps/dd16d29/5267e854-8813-4e55-ac17-a8a27745533d/0/Hitchiner-Steve-SPP-and-Barnett-Waddingham-2022-185x114.jpg" /> <p><!--summary start--> Challenging additional information requirements in statements of strategy mean ‘further reflection’ is required by The Pensions Regulator (TPR), the industry says. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/dd16d29/5267e854-8813-4e55-ac17-a8a27745533d/0/Hitchiner-Steve-SPP-and-Barnett-Waddingham-2022-185x114.jpg https://www.professionalpensions.com/news/4181815/tpr-told-reflection-required-statements-strategy https://www.professionalpensions.com/news/4181815/tpr-told-reflection-required-statements-strategy https://www.professionalpensions.com/news/4181815/tpr-told-reflection-required-statements-strategy Tue, 5 Mar 2024 15:53:47 +0000 TPR consults on DB scheme statements of strategy <img alt="TPR consults on DB scheme statements of strategy" src="https://www.professionalpensions.com/api/v1/wps/271266c/c4b4d84c-fca8-4c79-9661-27fc9ba20bd0/2/Davey-Louise-TPR-2023-185x114.jpg" /> <p><!--summary start--> The Pensions Regulator (TPR) has announced proposals for defined benefit (DB) trustees to submit their own statements of strategy alongside their actuarial valuations. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/271266c/c4b4d84c-fca8-4c79-9661-27fc9ba20bd0/2/Davey-Louise-TPR-2023-185x114.jpg https://www.professionalpensions.com/news/4181360/tpr-consults-db-scheme-statements-strategy https://www.professionalpensions.com/news/4181360/tpr-consults-db-scheme-statements-strategy https://www.professionalpensions.com/news/4181360/tpr-consults-db-scheme-statements-strategy Tue, 5 Mar 2024 10:48:11 +0000 DWP rules out option 3 as it sets out general levy consultation response <img alt="DWP rules out option 3 as it sets out general levy consultation response" src="https://www.professionalpensions.com/api/v1/wps/08ee887/0e112fd9-9eac-4a87-b0d3-122fc4473e80/6/DWP-building-936963136-185x114.jpg" /> <p><!--summary start--> The Department for Work and Pensions (DWP) has published the government’s response to the general levy consultation. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/08ee887/0e112fd9-9eac-4a87-b0d3-122fc4473e80/6/DWP-building-936963136-185x114.jpg https://www.professionalpensions.com/news/4181137/dwp-rules-option-sets-levy-consultation-response https://www.professionalpensions.com/news/4181137/dwp-rules-option-sets-levy-consultation-response https://www.professionalpensions.com/news/4181137/dwp-rules-option-sets-levy-consultation-response Mon, 4 Mar 2024 16:10:50 +0000 Chancellor unveils plans to bar poorly performing DC schemes from new business <img alt="Chancellor unveils plans to bar poorly performing DC schemes from new business " src="https://www.professionalpensions.com/api/v1/wps/e7d5ca4/0d95c49d-d0b8-4b0c-92bd-559a3d8d248c/7/Jeremy-Hunt-3-185x114.jpg" /> <p><!--summary start--> Chancellor Jeremy Hunt has today (2 March) announced proposals to force defined contribution (DC) plans to publicly disclose their level of investment in the UK and improve the performance of poorly performing schemes. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/e7d5ca4/0d95c49d-d0b8-4b0c-92bd-559a3d8d248c/7/Jeremy-Hunt-3-185x114.jpg https://www.professionalpensions.com/news/4180675/chancellor-unveils-plans-bar-poorly-performing-dc-schemes-business https://www.professionalpensions.com/news/4180675/chancellor-unveils-plans-bar-poorly-performing-dc-schemes-business https://www.professionalpensions.com/news/4180675/chancellor-unveils-plans-bar-poorly-performing-dc-schemes-business Sat, 2 Mar 2024 06:55:22 +0000 EDI - a call to action from the regulator <img alt="EDI - a call to action from the regulator" src="https://www.professionalpensions.com/api/v1/wps/a7060fc/20bde604-a95f-4251-affa-2bcf90a0b3eb/0/Bowyer-Christina-Pinsent-Masons-2023-185x114.jpg" /> <p><!--summary start--> In January, Pinsent Masons and Lane Clark & Peacock (LCP) organised a panel of experts to discuss how pension schemes can translate The Pensions Regulator’s (TPR's) new equality, diversity and inclusion (EDI) guidance into actionable steps. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/a7060fc/20bde604-a95f-4251-affa-2bcf90a0b3eb/0/Bowyer-Christina-Pinsent-Masons-2023-185x114.jpg https://www.professionalpensions.com/analysis/4180539/edi-action-regulator https://www.professionalpensions.com/analysis/4180539/edi-action-regulator https://www.professionalpensions.com/analysis/4180539/edi-action-regulator Fri, 1 Mar 2024 13:55:33 +0000 PPF publishes public sector consolidator design document <img alt="PPF publishes public sector consolidator design document" src="https://www.professionalpensions.com/api/v1/wps/5180f95/70f644a2-d2d8-40af-8263-6e44f9bbaa39/5/Easter-Katherine-PPF-2024-185x114.jpeg" /> <p><!--summary start--> The Pension Protection Fund (PPF) has published its initial views on how a public sector consolidator (PSC) could be structured. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/5180f95/70f644a2-d2d8-40af-8263-6e44f9bbaa39/5/Easter-Katherine-PPF-2024-185x114.jpeg https://www.professionalpensions.com/news/4180383/ppf-publishes-public-sector-consolidator-design-document https://www.professionalpensions.com/news/4180383/ppf-publishes-public-sector-consolidator-design-document https://www.professionalpensions.com/news/4180383/ppf-publishes-public-sector-consolidator-design-document Fri, 1 Mar 2024 10:45:59 +0000 PLSA 24: TPR to publish 'suite' of guidance soon <img alt="PLSA 24: TPR to publish &#39;suite&#39; of guidance soon " src="https://www.professionalpensions.com/api/v1/wps/d4c66ea/97554b86-6091-45ac-a3cc-d4a0c825d438/1/DAVEY-240228-plsa-investment-1151-185x114.jpg" /> <p><!--summary start--> The Pensions Regulator (TPR) has said it will publish a “suite” of guidance in due course, a session at the Pensions and Lifetime Savings Association (PLSA) annual conference has heard. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/d4c66ea/97554b86-6091-45ac-a3cc-d4a0c825d438/1/DAVEY-240228-plsa-investment-1151-185x114.jpg https://www.professionalpensions.com/news/4179865/plsa-tpr-publish-suite-guidance-soon https://www.professionalpensions.com/news/4179865/plsa-tpr-publish-suite-guidance-soon https://www.professionalpensions.com/news/4179865/plsa-tpr-publish-suite-guidance-soon Thu, 29 Feb 2024 10:26:06 +0000 TPR staff launch fresh wave of strike action over pay and conditions <img alt="TPR staff launch fresh wave of strike action over pay and conditions" src="https://www.professionalpensions.com/api/v1/wps/beb3f75/b7d8b7c2-7399-4407-b551-d5df606c432d/1/TPR-strike-action-28-Feb-185x114.jpeg" /> <p><!--summary start--> Members of the Public and Commercial Services (PCS) union working at The Pensions Regulator (TPR) have walked out again today – launching a fresh round of strike action amid an ongoing dispute over pay and conditions. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/beb3f75/b7d8b7c2-7399-4407-b551-d5df606c432d/1/TPR-strike-action-28-Feb-185x114.jpeg https://www.professionalpensions.com/news/4179634/tpr-staff-launch-fresh-wave-strike-action-pay-conditions https://www.professionalpensions.com/news/4179634/tpr-staff-launch-fresh-wave-strike-action-pay-conditions https://www.professionalpensions.com/news/4179634/tpr-staff-launch-fresh-wave-strike-action-pay-conditions Wed, 28 Feb 2024 15:41:14 +0000 SPP: The devil is in the detail on new DB funding regime <img alt="SPP: The devil is in the detail on new DB funding regime" src="https://www.professionalpensions.com/api/v1/wps/dd16d29/5267e854-8813-4e55-ac17-a8a27745533d/0/Hitchiner-Steve-SPP-and-Barnett-Waddingham-2022-185x114.jpg" /> <p><!--summary start--> The Society of Pension Professionals’ (SPP’s) latest column for Professional Pensions, looks at the Department for Work and Pensions’ (DWP’s) Investment and funding regulations. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/dd16d29/5267e854-8813-4e55-ac17-a8a27745533d/0/Hitchiner-Steve-SPP-and-Barnett-Waddingham-2022-185x114.jpg https://www.professionalpensions.com/opinion/4178955/spp-devil-db-funding-regime https://www.professionalpensions.com/opinion/4178955/spp-devil-db-funding-regime https://www.professionalpensions.com/opinion/4178955/spp-devil-db-funding-regime Tue, 27 Feb 2024 09:51:02 +0000 Industry welcomes DWP focus on DB surplus <img alt="Industry welcomes DWP focus on DB surplus" src="https://www.professionalpensions.com/api/v1/wps/db667dc/ab9f1e1d-816c-4eac-8d52-27d276e38148/2/Consultation-docments-185x114.jpg" /> <p><!--summary start--> The industry has welcomed the Department for Work and Pensions’ (DWP) focus on enabling defined benefit (DB) surplus extraction and a public sector consolidator following its consultation. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/db667dc/ab9f1e1d-816c-4eac-8d52-27d276e38148/2/Consultation-docments-185x114.jpg https://www.professionalpensions.com/news/4178291/industry-welcomes-dwp-focus-db-surplus https://www.professionalpensions.com/news/4178291/industry-welcomes-dwp-focus-db-surplus https://www.professionalpensions.com/news/4178291/industry-welcomes-dwp-focus-db-surplus Mon, 26 Feb 2024 16:14:29 +0000 Industry backs advice guidance boundary proposals <img alt="Industry backs advice guidance boundary proposals " src="https://www.professionalpensions.com/api/v1/wps/8a4fac0/46a87703-dc08-4404-829e-c66fc987bff6/0/adviser-support-185x114.jpg" /> <p><!--summary start--> The industry has backed advice guidance boundary review proposals but has called for greater clarity. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/8a4fac0/46a87703-dc08-4404-829e-c66fc987bff6/0/adviser-support-185x114.jpg https://www.professionalpensions.com/news/4178773/industry-backs-advice-guidance-boundary-proposals https://www.professionalpensions.com/news/4178773/industry-backs-advice-guidance-boundary-proposals https://www.professionalpensions.com/news/4178773/industry-backs-advice-guidance-boundary-proposals Mon, 26 Feb 2024 16:02:29 +0000 DWP launches options for DB schemes consultation <img alt="DWP launches options for DB schemes consultation" src="https://www.professionalpensions.com/api/v1/wps/d623b13/9ad73bf3-099d-4dbf-8661-193528e6f33d/5/Consultation-paperwork-185x114.jpg" /> <p><!--summary start--> The government has published its consultation on options for defined benefit (DB) schemes in a bid to make surplus extraction easier and set out the design of a future public sector consolidator. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/d623b13/9ad73bf3-099d-4dbf-8661-193528e6f33d/5/Consultation-paperwork-185x114.jpg https://www.professionalpensions.com/news/4178272/dwp-launches-options-db-schemes-consultation https://www.professionalpensions.com/news/4178272/dwp-launches-options-db-schemes-consultation https://www.professionalpensions.com/news/4178272/dwp-launches-options-db-schemes-consultation Fri, 23 Feb 2024 15:23:00 +0000 TPR announces restructure as part of strategic shift in pensions oversight <img alt="TPR announces restructure as part of strategic shift in pensions oversight" src="https://www.professionalpensions.com/api/v1/wps/0bbcca8/0aeb974c-c2fe-4f0c-8912-69027af9c4b5/5/Smart-Sarah-TPR-roi-1-185x114.jpg" /> <p><!--summary start--> The Pensions Regulator (TPR) has announced it is undertaking a “strategic shift” in its occupational pensions oversight. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/0bbcca8/0aeb974c-c2fe-4f0c-8912-69027af9c4b5/5/Smart-Sarah-TPR-roi-1-185x114.jpg https://www.professionalpensions.com/news/4177788/tpr-announces-restructure-as-part-of-strategic-shift-in-pensions-oversight https://www.professionalpensions.com/news/4177788/tpr-announces-restructure-as-part-of-strategic-shift-in-pensions-oversight https://www.professionalpensions.com/news/4177788/tpr-announces-restructure-as-part-of-strategic-shift-in-pensions-oversight Thu, 22 Feb 2024 16:08:30 +0000 FRC updates on UK Stewardship Code signatories <img alt="FRC updates on UK Stewardship Code signatories" src="https://www.professionalpensions.com/api/v1/wps/d732d99/f00360d8-9858-4efa-8391-e6a9b96f31b5/3/net-zero-TCFD-report-iStock-1450272068-185x114.jpg" /> <p><!--summary start--> The Financial Reporting Council (FRC) has issued the latest update to the signatories list of the UK Stewardship Code. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/d732d99/f00360d8-9858-4efa-8391-e6a9b96f31b5/3/net-zero-TCFD-report-iStock-1450272068-185x114.jpg https://www.professionalpensions.com/news/4177778/frc-updates-uk-stewardship-code-signatories https://www.professionalpensions.com/news/4177778/frc-updates-uk-stewardship-code-signatories https://www.professionalpensions.com/news/4177778/frc-updates-uk-stewardship-code-signatories Thu, 22 Feb 2024 15:37:40 +0000 Finance Bill LTA provisions leading to 'patch and mend job' ahead of new tax year <img alt="Finance Bill LTA provisions leading to &#39;patch and mend job&#39; ahead of new tax year" src="https://www.professionalpensions.com/api/v1/wps/93cd5fb/a5ec430f-fc7e-4f5d-83b0-4005d44bf81f/0/Everett-David-LCP-185x114.jpg" /> <p><!--summary start--> Finance Bill lifetime allowance (LTA) provisions are a “rushed job” that will lead to “challenging” timescales for administrators and a “patch and mend job” through regulations ahead of the new tax year, industry figures say. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/93cd5fb/a5ec430f-fc7e-4f5d-83b0-4005d44bf81f/0/Everett-David-LCP-185x114.jpg https://www.professionalpensions.com/news/4177766/finance-lta-provisions-leading-patch-mend-job-ahead-tax https://www.professionalpensions.com/news/4177766/finance-lta-provisions-leading-patch-mend-job-ahead-tax https://www.professionalpensions.com/news/4177766/finance-lta-provisions-leading-patch-mend-job-ahead-tax Thu, 22 Feb 2024 15:25:11 +0000 How the retained EU law act impacts GMP equalisation <img alt="How the retained EU law act impacts GMP equalisation " src="https://www.professionalpensions.com/api/v1/wps/13b32a7/adf940ca-e3fc-49cc-85bf-f23d649fdebf/1/White-Nick-NDW-185x114.jpg" /> <p><!--summary start--> The Retained EU Law (Revocation and Reform) Act 2023 came into force at the turn of the year. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/13b32a7/adf940ca-e3fc-49cc-85bf-f23d649fdebf/1/White-Nick-NDW-185x114.jpg https://www.professionalpensions.com/opinion/4177211/retained-eu-law-act-impacts-gmp-equalisation https://www.professionalpensions.com/opinion/4177211/retained-eu-law-act-impacts-gmp-equalisation https://www.professionalpensions.com/opinion/4177211/retained-eu-law-act-impacts-gmp-equalisation Thu, 22 Feb 2024 09:45:21 +0000 WPC holds fiduciary duty session <img alt="WPC holds fiduciary duty session" src="https://www.professionalpensions.com/api/v1/wps/9d52ec1/9ee42e43-0bae-47b2-be4d-f8a185bf3820/2/Young-Carol-USS-185x114.jpg" /> <p><!--summary start--> The Work and Pensions Committee (WPC) has held a session exploring the fiduciary duty of trustees in relation to climate change. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/9d52ec1/9ee42e43-0bae-47b2-be4d-f8a185bf3820/2/Young-Carol-USS-185x114.jpg https://www.professionalpensions.com/news/4176896/wpc-holds-fiduciary-duty-session https://www.professionalpensions.com/news/4176896/wpc-holds-fiduciary-duty-session https://www.professionalpensions.com/news/4176896/wpc-holds-fiduciary-duty-session Wed, 21 Feb 2024 14:23:51 +0000 Most SPP members say general code will 'add value' <img alt="Most SPP members say general code will &#39;add value&#39;" src="https://www.professionalpensions.com/api/v1/wps/767cdc4/c8f922c8-c37d-49de-bd4c-ed4548ebe314/4/Green-tick-in-favour-votes-iStock-1308824414-185x114.jpg" /> <p><!--summary start--> The majority (64%) of members of the Society for Pension Professionals (SPP) say The Pension Regulator’s (TPR) recently released General Code of Practice will “add value”. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/767cdc4/c8f922c8-c37d-49de-bd4c-ed4548ebe314/4/Green-tick-in-favour-votes-iStock-1308824414-185x114.jpg https://www.professionalpensions.com/news/4175732/most-spp-members-code-add-value https://www.professionalpensions.com/news/4175732/most-spp-members-code-add-value https://www.professionalpensions.com/news/4175732/most-spp-members-code-add-value Mon, 19 Feb 2024 14:23:01 +0000 Pot for life reforms could be a game changer for UK pension provision <img alt="Pot for life reforms could be a game changer for UK pension provision" src="https://www.professionalpensions.com/api/v1/wps/23a23d1/db79bd92-d02f-4d49-bcf9-258f09e536cb/6/Lane-David-CEO-of-TPT-185x114.jpg" /> <p><!--summary start--> Chancellor Jeremy Hunt certainly generated headlines following the Autumn Statement last year with his pot for life or lifetime provider proposals. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/23a23d1/db79bd92-d02f-4d49-bcf9-258f09e536cb/6/Lane-David-CEO-of-TPT-185x114.jpg https://www.professionalpensions.com/opinion/4174882/pot-life-reforms-game-changer-uk-pension-provision https://www.professionalpensions.com/opinion/4174882/pot-life-reforms-game-changer-uk-pension-provision https://www.professionalpensions.com/opinion/4174882/pot-life-reforms-game-changer-uk-pension-provision Fri, 16 Feb 2024 09:21:19 +0000 Sackers publishes latest ESG guide <img alt="Sackers publishes latest ESG guide" src="https://www.professionalpensions.com/api/v1/wps/7e505b0/e84424f5-3680-4a22-b164-b3594e00b59f/1/Stuart-O-Brien-MAIN-edited-version-1-185x114.jpeg" /> <p><!--summary start--> Sackers has released the latest edition of its ESG guide: ESG beyond climate: What else is on the agenda? <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/7e505b0/e84424f5-3680-4a22-b164-b3594e00b59f/1/Stuart-O-Brien-MAIN-edited-version-1-185x114.jpeg https://www.professionalpensions.com/news/4174836/sackers-publishes-esg-guide https://www.professionalpensions.com/news/4174836/sackers-publishes-esg-guide https://www.professionalpensions.com/news/4174836/sackers-publishes-esg-guide Thu, 15 Feb 2024 15:35:02 +0000 Legal Review: Is 2024 the year of UK CDC? <img alt="Legal Review: Is 2024 the year of UK CDC?" src="https://www.professionalpensions.com/api/v1/wps/0d4b041/1621c6ee-4414-4836-a560-4cb6ab1fea71/1/1920-1080-Chris-Sharpe-copy-edited-version-1-185x114.jpeg" /> <p><!--summary start--> On 14 December, the draft Occupational Pension Schemes (Collective Money Purchase Schemes) (Amendment) Regulations 2023 were laid before Parliament. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/0d4b041/1621c6ee-4414-4836-a560-4cb6ab1fea71/1/1920-1080-Chris-Sharpe-copy-edited-version-1-185x114.jpeg https://www.professionalpensions.com/opinion/4174825/legal-review-2024-uk-cdc https://www.professionalpensions.com/opinion/4174825/legal-review-2024-uk-cdc https://www.professionalpensions.com/opinion/4174825/legal-review-2024-uk-cdc Thu, 15 Feb 2024 15:21:18 +0000 HMRC publishes lifetime allowance guidance <img alt="HMRC publishes lifetime allowance guidance " src="https://www.professionalpensions.com/api/v1/wps/9a5043f/5d5fc9fd-7268-4b9f-9ac9-011dc0edb3a4/1/HMRC-185x114.jpg" /> <p><!--summary start--> HM Revenue & Customs (HMRC) has published additional guidance for the pensions industry regarding the lifetime allowance (LTA). <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/9a5043f/5d5fc9fd-7268-4b9f-9ac9-011dc0edb3a4/1/HMRC-185x114.jpg https://www.professionalpensions.com/news/4173722/hmrc-publishes-lifetime-allowance-guidance https://www.professionalpensions.com/news/4173722/hmrc-publishes-lifetime-allowance-guidance https://www.professionalpensions.com/news/4173722/hmrc-publishes-lifetime-allowance-guidance Tue, 13 Feb 2024 16:56:19 +0000 Robin Ellison: It's not easy being a lawyer <img alt="Robin Ellison: It&#39;s not easy being a lawyer" src="https://www.professionalpensions.com/api/v1/wps/c60718e/df6a9d5b-6ab5-43aa-8418-256e0fefb0e3/6/Ellison-Robin-Pinsent-Masons-roi-3-185x114.jpg" /> <p><!--summary start--> In the latest in his series of monthly columns for Professional Pensions, Robin Ellison explains why we should always take our pension; looks at some of the travails of lawyers; and explains the latest in a line of regulatory acronyms. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/c60718e/df6a9d5b-6ab5-43aa-8418-256e0fefb0e3/6/Ellison-Robin-Pinsent-Masons-roi-3-185x114.jpg https://www.professionalpensions.com/opinion/4173447/robin-ellison-easy-lawyer https://www.professionalpensions.com/opinion/4173447/robin-ellison-easy-lawyer https://www.professionalpensions.com/opinion/4173447/robin-ellison-easy-lawyer Tue, 13 Feb 2024 10:52:30 +0000 What can the UK learn from the Dutch on CDC? <img alt="What can the UK learn from the Dutch on CDC?" src="https://www.professionalpensions.com/api/v1/wps/013914e/6393945b-d7d7-43e9-b09e-c4dc4bd760ec/0/Waters-Paul-Hymans-Robertson-2024-185x114.jpg" /> <p><!--summary start--> Collective defined contribution (CDC) – a new approach to providing pensions – has got lots of attention in the UK pension industry recently, particularly in the Mansion House reforms. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/013914e/6393945b-d7d7-43e9-b09e-c4dc4bd760ec/0/Waters-Paul-Hymans-Robertson-2024-185x114.jpg https://www.professionalpensions.com/opinion/4172486/uk-learn-dutch-cdc https://www.professionalpensions.com/opinion/4172486/uk-learn-dutch-cdc https://www.professionalpensions.com/opinion/4172486/uk-learn-dutch-cdc Fri, 9 Feb 2024 14:45:53 +0000 Industry uncertain about LTA implementation, survey says <img alt="Industry uncertain about LTA implementation, survey says" src="https://www.professionalpensions.com/api/v1/wps/21c60fd/386180f2-8319-4185-9ad7-2969d8b377c2/1/HMRC-pension-tax-relief-185x114.jpg" /> <p><!--summary start--> A Sackers survey on the upcoming removal of the lifetime allowance (LTA) has highlighted concern among the industry about its implementation and impact on members. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/21c60fd/386180f2-8319-4185-9ad7-2969d8b377c2/1/HMRC-pension-tax-relief-185x114.jpg https://www.professionalpensions.com/news/4172196/industry-uncertain-about-lta-implementation-survey https://www.professionalpensions.com/news/4172196/industry-uncertain-about-lta-implementation-survey https://www.professionalpensions.com/news/4172196/industry-uncertain-about-lta-implementation-survey Fri, 9 Feb 2024 10:18:38 +0000 HoL inquiry calls for body to hold regulators to account; Ellison hits out at TPR <img alt="HoL inquiry calls for body to hold regulators to account; Ellison hits out at TPR" src="https://www.professionalpensions.com/api/v1/wps/ebf4fc7/2b6f5c16-be10-4a87-a44a-771599780daa/1/Regulation-strategy-185x114.jpg" /> <p><!--summary start--> The House of Lords’ Industry and Regulators Committee has called for a new statutory body to help hold regulators to account. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/ebf4fc7/2b6f5c16-be10-4a87-a44a-771599780daa/1/Regulation-strategy-185x114.jpg https://www.professionalpensions.com/news/4171967/hol-inquiry-calls-body-hold-regulators-account-ellison-hits-tpr https://www.professionalpensions.com/news/4171967/hol-inquiry-calls-body-hold-regulators-account-ellison-hits-tpr https://www.professionalpensions.com/news/4171967/hol-inquiry-calls-body-hold-regulators-account-ellison-hits-tpr Thu, 8 Feb 2024 15:21:43 +0000 Analysis - FMLC review 'a breakthrough on fiduciary duty' <img alt="Analysis - FMLC review &#39;a breakthrough on fiduciary duty&#39;" src="https://www.professionalpensions.com/api/v1/wps/7f8f336/2be508e0-81f8-40fc-b9ed-29ed46ac26c7/6/Nazarova-Doyle-Maria-preferred-185x114.jpg" /> <p><!--summary start--> The subject of how (and whether) sustainable investment aligns with fiduciary duty has been debated in the UK pensions industry for a few years, with some polarising views. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/7f8f336/2be508e0-81f8-40fc-b9ed-29ed46ac26c7/6/Nazarova-Doyle-Maria-preferred-185x114.jpg https://www.professionalpensions.com/opinion/4171361/analysis-fmlc-review-breakthrough-fiduciary-duty https://www.professionalpensions.com/opinion/4171361/analysis-fmlc-review-breakthrough-fiduciary-duty https://www.professionalpensions.com/opinion/4171361/analysis-fmlc-review-breakthrough-fiduciary-duty Wed, 7 Feb 2024 14:29:21 +0000 FMLC publishes paper to clarify legal position on the fiduciary duty of trustees <img alt="FMLC publishes paper to clarify legal position on the fiduciary duty of trustees" src="https://www.professionalpensions.com/api/v1/wps/9460116/000e8887-da9a-4906-bcab-8cd3b8284961/2/climate-change-185x114.jpg" /> <p><!--summary start--> The Financial Markets Law Committee (FMLC) has published its final report on pension fund trustees and fiduciary duties. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/9460116/000e8887-da9a-4906-bcab-8cd3b8284961/2/climate-change-185x114.jpg https://www.professionalpensions.com/news/4171393/fmlc-publishes-paper-clarify-legal-position-fiduciary-duty-trustees https://www.professionalpensions.com/news/4171393/fmlc-publishes-paper-clarify-legal-position-fiduciary-duty-trustees https://www.professionalpensions.com/news/4171393/fmlc-publishes-paper-clarify-legal-position-fiduciary-duty-trustees Tue, 6 Feb 2024 17:00:57 +0000