Law and Regulation

The Federal Reserve's landmark decision to raise interest rates for the first time in almost a decade paves the way for the UK to follow suit. PP looks at what could be in store for schemes.

The government has kept the qualifying earnings band for auto-enrolment at £10,000, resisting calls to lower the trigger to get more people saving into a pension.

The Financial Conduct Authority (FCA) has fined Threadneedle Asset Management more than £6m for having inadequate controls in its fixed income front office.

People drawing retirement income from annuities will be able to sell their contracts from 6 April 2017, the government has confirmed.

The Work and Pensions Committee has launched an inquiry into pensions automatic enrolment (AE).

Legal & General (L&G) will no longer report to shareholders on a quarterly basis, after a landmark decision removed the requirement for interim reporting.

The Pensions Regulator (TPR) has told public sector schemes to improve their governance standards after research found just 28% had a plan to comply with recent reforms.

The Treasury has said it wants to make financial advice mandatory for sales of annuities on the secondary market.

The last 12 months could set the scene for more upheaval

More than one third of pension schemes experienced fraud this year as risks to members were increased by the introduction of the April freedoms, according to research by RSM.