Law and Regulation
Employers engaging gig economy workers with pension savings despite AE rules
Over half (52%) of employers engage their gig economy workers for whom no pension provision is required to be made under UK law, according to the Association of Consulting Actuaries (ACA).
Pensions bill 'lost' amid election uncertainties, says Gowling
For the pensions industry, the 12 December general election means the long-awaited pensions bill is “lost”, but probably “not forgotten”, according to a blog published by law firm Gowling.
Pension scam victims 'lose 22 years of savings in 24 hours'
Pension scam victims could lose an average of 22 years of savings in 24 hours, according to research by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR).
Contingent charging ban proposal gets mixed responses in FCA consultation
The FCA’s consultation on banning contingent charging on DB transfer advice has closed. Kim Kaveh looks at the industry’s responses.
Time to get serious on defeating scams
With the law not adequately protecting savers from scams, the pensions industry must be more direct with members about the risks of transfers, says Margaret Snowdon.
BA awaits court blessing on settlement for six-year dispute
The High Court must bless a settlement between British Airways (BA) and the trustees of the Airways Pension Scheme (APS) to achieve certainty and bring to an end the acrimonious six-year dispute, it has been told.
NEST members' panel calls on government to reduce AE earnings threshold
The NEST members’ panel is calling on the government to start reducing the £10,000 auto-enrolment (AE) earnings threshold, before the move to start contributions from the first pound earned.
Pensions bill derailed again as general election called
The pension schemes bill will face yet another delay as the UK seems set to have its third general election in five years on 12 December.
Tinker, failure, closure, grief
A pensions commission would provide an opportunity to get past short-termist thinking in a political world dominated and saturated by Brexit, says Rory Murphy.
Revamped wake-up packs 'still not enough' for savers
Simplified, one-page pension wake-up packs launched last week, but the industry does not agree that they will make much difference to members’ saving attitudes. Holly Roach reports
Robin Ellison: Why we must 'strenuously resist' TPR's demand for more cash
The volume of regulation and the cost of regulators has risen sharply over the past decade. Robin Ellison asks if it is time for a rethink.
Pensions bill lite misses obvious opportunity for AE reform
Failure to include auto-enrolment reforms in the Queen’s Speech and the pension schemes bill will make big problems even bigger, says Jack Jones.
TPR action improves Barnet LGPS governance
The London Borough of Barnet Superannuation Fund is now being run more effectively following intervention action taken by The Pensions Regulator (TPR).
November Budget cancelled to 'get Brexit done', chancellor says
The government has scrapped plans to go ahead with an Autumn Budget on 6 November as prime minister Boris Johnson continues to push for a general election before the end of the year.
RPI changes raise volatility concerns for schemes over pension stability
Trustees and scheme sponsors should avoid significant pension actions until proposed changes to RPI inflation methodology become clearer, Lane Clark & Peacock says.
PPF to revamp assessment panel with focus on pre-insolvency support
The Pension Protection Fund (PPF) has launched a retendering process for firms to sit on its assessment period trustee panel, with an increased focus on corporate restructures and insolvency proceedings.
DWP proposes levy hike as funded bodies see 'continuing change and growth'
The Department for Work and Pensions (DWP) has proposed increasing the general levy on occupational and personal pension schemes from 1 April 2020.
TPR further delays DB funding code consultation until 'things have settled down'
The Pensions Regulator (TPR) will now seek to publish the first of two consultations on a revised defined benefit (DB) funding code in the new year, depending on the political environment.
Opperman: Doing nothing is not an option
The pensions schemes bill will digitalise pensions and provide savers with greater confidence for retirement, Guy Opperman has said.
How TPR's relationship supervision regime is working
The Pensions Regulator’s relationship supervision regime was launched a year ago. Jonathan Stapleton hears from Dianne Morgan about how it is working in practice.
A closer look at flexible apportionment arrangements
Flexible apportionment arrangements have become a commonly used tool for employers but, as Andy Lewis says, there can be issues for the unwary.
DWP to fix 'unintended' PPF rules in pension schemes bill
The government will change the law to allow the Pension Protection Fund (PPF) to aggregate pensions for the purposes of calculating compensation.
Pension schemes bill has low chance of quick resolution
With the spectre of Brexit looming over parliament, Jonathan Stapleton has some scepticism that the pension schemes bill will be enacted any time soon.
MNTs must not be overlooked in governance drive
Regulatory efforts to drive up the standards of trustees must not forget the unique skills and understanding of members that MNTs can provide, says David Weeks
