Admin / Technology
Simpler pension statements must be compulsory
The government must now bow to pressure and allow providers to choose whether to send standardised, simpler pension statements, says Baroness Ros Altmann.
Why the role of scheme secretary needs to evolve
There is a growing need for schemes to improve governance. John Reeve says better trustee support will improve their ability to meet these increasingly onerous requirements
Why communication is vital in pensions
Communication is essential in a pensions environment governed increasingly by defaults, and with more schemes in distress. James Phillips joined a panel of experts to hear how it can be improved.
Penfold secures £2m to fund digital pension scheme for the self-employed
Penfold has launched a digital pension scheme aimed at the self-employed following a successful £2m funding round.
PASA publishes master trust transition guidance
The Pensions Administration Standards Association (PASA) has published its first batch of guidance on defined contribution (DC) master trust transition, as further consolidation is expected.
PMI Student Essay Competition: What the dashboard can learn from open banking, Midata and Fitbit
LCP’s Ella Purkiss was the winner of the PMI's second student essay competition. In her paper, she sets out her ideas as to what the industry can learn from other sectors when designing and delivering the pensions dashboard.
'No excuse' for industry slipping from GMP equalisation timescale targets
The lack of clarity from HM Revenue and Customs (HMRC) on guaranteed minimum pension (GMP) equalisation is “no excuse” for stalling implementation, says Aon.
DWP annual benefit statement consultation questions voluntary adoption
The Department for Work and Pensions (DWP) has launched a consultation setting out proposals for the adoption and launch of simpler annual benefit statements. Holly Roach reports
Trustees still unprotected and vulnerable to cyber risk
There is still no available guidance for trustees on how to incorporate cyber security risks in their investment and stewardship processes, according to NEST.
Data quality is pensions dashboard's 'weakest link'
The quality and availability of data is the “weakest link” for the pensions dashboard, according to the Society of Pension Professionals (SPP).
HMRC GMP equalisation tax guidance confirmed for December
HM Revenue and Customs (HMRC) has announced it will publish its long-awaited tax guidance specific to guaranteed minimum pension (GMP) equalisation in December.
HMRC guidance is the 'missing piece of the jigsaw' in GMP equalisation process
One year on from the landmark ruling on GMP equalisation, Holly Roach looks at how far the industry has come and what remains for schemes to do.
Widespread concern over complexity and cost of GMP equalisation, finds ACA
Employers are increasingly concerned about the costs and complexity associated with equalising guaranteed minimum pensions (GMPs), according to the Association of Consulting Actuaries (ACA).
Spend money on data to make dashboard beneficial, says industry
The industry needs to spend a significant amount of money on data and administration to make the dashboard worthwhile, according to pension professionals.
Pensions minister tells schemes to 'act now' on GMP equalisation
Schemes must “act now” to equalise guaranteed minimum pensions (GMPs), pensions and financial inclusion minister Guy Opperman says.
Data held by schemes 'not good enough for the dashboard'
The data the industry holds is not yet good enough for the pensions dashboard, industry experts say.
PLSA publishes retirement living standards to help savers 'picture their future'
The Pensions and Lifetime Savings Association (PLSA) has unveiled a retirement living standards tool to help members engage with their pension and set retirement targets.
Aegon debuts animated video summaries for members
Aegon has launched personalised animated video summaries for its members, in a bid to boost engagement.
Are we heading for a capacity crisis in admin - or are we already there?
With schemes facing more administration tasks than ever, it is important the industry attracts new talent to help with potential capacity problems, says Kim Gubler.
Exclusive: EY launches fiduciary manager selection dashboard
EY has launched a digital dashboard allowing trustees to more easily narrow the field of potential fiduciary managers before a tender process.
No one-size-fits-all for GMP equalisation
The GMP Equalisation Working Group has published its first guidance note to assist schemes in undertaking the process. Holly Roach discusses what schemes should do next
GMP Equalisation Working Group publishes methodology guidance
The cross-industry GMP Equalisation Working Group has published guidance outlining methods schemes could use to equalise for the sex based inequalities of GMPs.
MAPS establishes steering group with ten members to take dashboards forward
The Money and Pensions Service (MAPS) has made ten appointments across the pensions and wider financial sector to work on the practicalities of establishing pensions dashboards.
Taking administration back in-house
While in-house administration comes with its own challenges, for some schemes it can have significant advantages over third-party providers, argues Philip Dickinson
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