Law and Regulation
GMP ruling gives schemes clarity, cost and complexity
Jonathan Stapleton says the GMP headache may persist as schemes take action following ruling.
Eight Budget announcements for the pensions industry to note
Philip Hammond's 2018 Budget speech was entirely devoid of any mention of pensions, but the documents do include some things for the industry to take note of. Professional Pensions rounds up the eight key Budget plans and shortcomings.
Oliver Morley: Bringing DVLA experience to the PPF
The PPF's fairly new chief executive talks to James Phillips about his first seven months in the role, his digitalisation and user experience agenda, and plans for the next three years.
TPR bans two trustees for putting savers' money into suspected scam investments
Two men who put pension savers' money into "exotic, high risk and suspected scam investments" have been banned from being trustees by The Pensions Regulator (TPR).
Budget 2018: Ban on regulated firms buying cold-called leads mulled
The government and the Financial Conduct Authority (FCA) are "keeping under review" suggestions the regulator should update its rules on regulated firms buying leads obtained by cold-calling.
Budget: Public sector schemes to move to CPIH 'when and where practicable'
The government will gradually adopt a version of the Consumer Prices Index (CPI) which incorporates housing costs for pension funds and index-linked gilts, it confirmed today.
Labour promises 'decent rate of return' from renationalisation plans
Shadow chancellor John McDonnell has pledged that existing pension fund investors in key utilities companies will be granted a long-term "stable return" if the party is able to press ahead with plans for renationalisation.
Fiduciary management tendering could cut fees by 20% - CMA
Tendering for fiduciary management has led to fees being reduced by between 19% and 22%, latest analysis by the Competition and Markets Authority (CMA) finds.
Recruitment agency ordered to pay £280,000: largest fine and first custodial sentences following TPR prosecution
Recruitment agency Workchain has been hit with a £280,000 fine after posing as temporary staff and illegally opting them out of their workplace pension scheme.
UPDATED: GMPs must be equalised and arrears paid, High Court rules
Thousands of defined benefit (DB) schemes will be forced to amend their scheme rules and equalise guaranteed minimum pensions (GMPs) between men and women, the High Court has ruled.
We are letting down pension fund members
Colin Meech says lack of clarity means workers and their employers don't know whether they're getting value for money or how investments are performing
Most schemes have not assessed impact of no-deal Brexit, finds PP research
Only a fifth of respondents in this week's Pensions Buzz say they have started contingency planning for a no-deal Brexit scenario.
EXCLUSIVE: Why well-designed CDC is viable for UK employers
Simon Eagle of Willis Towers Watson says that, based on his work for Royal Mail, well-designed collective defined contribution (CDC) funds would be viable for some other UK employers too.
TPR bans quartet behind £13.7m cold-calling scam from being trustees
Four people behind a £13.7m cold-calling scam which cost 245 people their savings have been banned from being pension scheme trustees by The Pensions Regulator (TPR).
TPR will not set firm ratio for dividends and DRCs
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Final CMA decision likely by Christmas; remedies enforced from June 2019
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.
Bumper bill inbound but pension policy stability will follow, Opperman pledges
A "substantial" parliamentary bill acting as a "roadmap" for the long-term future of private pensions will lead to a "significant period of calm", Guy Opperman has promised.
DWP names three single financial guidance body non-execs and completes board
The Department for Work and Pensions (DWP) has completed its appointment process for the Single Financial Guidance Body's (SFGB) board, naming three non-executive directors.
TPR drafts in FCA and PRA staff for help on master trust authorisation
The Pensions Regulator (TPR) has seconded staff from other national watchdogs as it rolls out the master trust authorisation and supervision regime, Lesley Titcomb has revealed.
TPR and FCA to review consumer pensions journey in joint strategy
The Pensions Regulator (TPR) and Financial Conduct Authority (FCA) have outlined plans to better understand the consumer pensions journey as they launch their joint strategy.
Lifetime allowance to rise to £1.05m as inflation falls to 2.4%
The lifetime allowance will rise to £1,054,800 from April next year as the Office for National Statistics (ONS) recorded inflation at 2.4% in the year to September.
DWP 'exploring' ways to extend 50% benefits to FAS solvent schemes
The government is seeking ways to ensure "parity" of compensation treatment between Financial Assistance Scheme (FAS) members from solvent and insolvent schemes.
PPF admits it does not know precise cost of ECJ ruling
The Pension Protection Fund (PPF) has conceded it does not have "all the data we need to calculate" the impact of last month's ruling that some benefits may be unlawful.
Fears grow over GMP equalisation hit on corporate profits
A looming court decision on gender equalisation of pension schemes could hit FTSE 100 profits by up to £15bn, Lane Clark and Peacock (LCP) says.
