Law and Regulation
What proposed climate reporting duties could mean for trustees
Lorna Blyth looks at how an amendment to the Pension Schemes Bill could force pension schemes to align their investment strategies with the Paris climate agreement.
TPR set to tighten regulatory grip as it unveils its latest corporate plan
The Pensions Regulator (TPR) has said it will continue with its “clear, quick and tough” approach to driving up standards across the pensions industry following the coronavirus pandemic.
How vulnerable are trustees from data subject access requests?
Gemma Willingham and Tom McNaughton look at how trustees can respond to increasingly-used data subject access requests.
WPC chairman to seek transfer pause where scams suspected
Work and Pensions Committee (WPC) chairman Stephen Timms will table an amendment to the Pension Schemes Bill to allow schemes to pause transfers when a scam is suspected.
Updated: DWP launches review into default fund charge cap and standardised cost disclosure
The Department for Work and Pensions (DWP) has launched a review to assess the effectiveness of costs, charges and transparency measures in protecting pension member outcomes.
'Dishonest' Norton Motorcycles ex-owner told to return £14m to pension funds
The Pensions Ombudsman (TPO) has ordered a former owner of Norton Motorcycles to pay back £14m of pension fund monies that he had invested in the struggling sponsor.
PIC calls for creation of compulsory not-for-profit consolidator to take on smaller underfunded schemes
Pension Insurance Corporation has reiterated its call for the establishment of a new consolidation vehicle, run by a not-for-profit agency, to target smaller underfunded schemes with weak sponsors.
ABI calls for overhaul of pensions tax relief; Industry says change will be 'far from easy'
The UK’s system of pensions tax relief needs to be overhauled to make it fairer to the lower paid and younger savers, the Association of British Insurers (ABI) says.
Univar ruling: High Court allows rectification of mistaken RPI hardwiring
The Univar Company Pension Scheme has been granted court permission to change its indexation protection from the Retail Prices Index (RPI) to the Consumer Prices Index (CPI).
PPF compensation cap deemed age discriminatory
The compensation caps applied by the Pension Protection Fund (PPF) have been deemed age discriminatory by the High Court in another slap down of the lifeboat regime.
PPF and TPR to be given key role in corporate restructures
The government has amended its Corporate Governance and Insolvency Bill to give the Pension Protection Fund (PPF) and The Pensions Regulator (TPR) a greater role in corporate restructurings.
Updated: WPC issues 'unscrupulous employer' warning to TPR
The Pensions Regulator (TPR) must be “alert” to the risk of unscrupulous employers taking advantage of Covid-19 flexibilities, the Work and Pensions Committee (WPC) says.
Maps begins market engagement project with pensions dashboard suppliers
The Money and Pensions Service (Maps) has started a six-week period of informal market engagement with potential suppliers of the digital architecture for the pensions dashboards.
David Fairs: Why we have launched an interim superfund regime now
With the launch of an interim regime, the consolidation market is set to take off. But before superfunds begin taking on schemes, the regulator must have 'rigour and understanding' of the market, David Fairs tells James Phillips.
Staying alive to sponsor survival
Trustees will need to consider where they can extra cash if needed, as well as where they stand on the insolvency ladder, says Alasdair Smith.
TPR extends Covid-19 easements but resumes some reporting requirements
The Pensions Regulator (TPR) has updated its guidance for schemes navigating funding or governance difficulties during the Covid-19 pandemic.
Values versus valuations: The LGPS and ESG
James Sparshott explores what the recent Supreme Court judgment on LGPS investing will mean for ESG integration
Think-tank calls for DB consolidation to up investment in illiquids
Urgent pension reforms should be undertaken to give the UK fewer and larger pension funds with the scale required to make major infrastructure investments, a think-tank says.
PLSA urges government to amend Insolvency Bill to avoid 'serious consequences' for schemes
The Pensions and Lifetime Savings Association (PLSA) has written to the Department for Business, Energy and Industrial Strategy (BEIS) to express its concerns over the potential impact of the Corporate Insolvency and Governance Bill on schemes.
TPR uses AE powers over 35,000 times in first quarter
The Pensions Regulator (TPR) used its auto-enrolment (AE) enforcement powers more than 35,000 times in the first quarter of this year, with over 11,000 compliance notices dished out.
'Provisional' trustee accreditation has no validity and creates confusion, warns PMI
Professional trustees claiming to have “provisional” trustee accreditation are creating confusion in the market and are undermining the whole process, the Pensions Management Institute (PMI) has warned.
PLSA publishes template for DC chair's statements
The Pensions and Lifetime Savings Association (PLSA) has published a drafting template to help defined contribution (DC) scheme trustees produce their annual chair’s statements.
Seven pension bodies team up to reassure savers over Covid-19 concerns
Seven bodies with responsibility for protecting UK pension savers’ pots have joined forces to create an information guide to reassure scheme members amid concern about the impact of the Covid-19 crisis on financial wellbeing in the UK.
Government corporate insolvency proposals to give trustees greater say on restructurings
Pension scheme trustees could find themselves with a better seat at the table during a corporate restructuring under government proposals presented to parliament last week.
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