Law and Regulation
Parliamentary pensions scams group launch welcomed by WPC
The formal establishment of the All-Party Parliamentary Group (APPG) on Pension Scams has been welcomed by Work and Pensions Committee (WPC) chairman Stephen Timms.
A new DB code on the horizon
Nigel Cayless looks at TPR's proposed funding regime and whether a more objective approach is on the way
Partner Insight: The first defence against scams
Jonathan Watts-Lay of WEALTH at work says trustees must step up and ensure appropriate retirement processes if members are to achieve better outcomes
TPR needs power to halt suspected fraudulent transfers, report urges
Pension companies must be given the power to trigger an “urgent regulatory response” to savers at risk of fraud, while regulators should be able to override the right to transfer, The People’s Pension and The Police Foundation have said.
Cohesive and specialist response needed on scams
Law enforcement, financial regulators and the private sector need to do much more and work together to protect savers from fraudsters, says Phil Brown.
Fraudster ordered to repay £250,000 of stolen scheme funds
The former trustee and chief executive officer of Yateley Industries for the Disabled has been ordered to pay back £250,000 he stole from the charity’s pension scheme.
TPR seeks confiscation of trustee's £250,000 charity pension fraud
The former trustee of a charity who defrauded a pension fund of £250,000 will appear in court today (4 September), one year after The Pensions Regulator (TPR) said it would seek a confiscation order for the funds’ return.
Under The Pensions Regulator's microscope
Chris Edwards-Earl and Stephen Richards offer some tips for those finding themselves under TPR's microscope.
Is history repeating itself with the Pension Schemes Bill and introduction of new DB funding code?
Jonathan Stapleton says the Pension Schemes Bill is the latest in a long line of well-meaning legislation that makes it more difficult for employers to offer good schemes to their staff
DB funding regime will provide 'clarity and flexibility' to all schemes, says TPR
Both open and closed defined benefit (DB) schemes will be given the clarity and flexibility they need under the proposed revision of the funding code, says The Pensions Regulator (TPR).
Fast track DB rules in danger of 'mission creep' and 'levelling down' scheme objectives
The Pensions Regulator’s (TPR) proposal for a ‘fast track’ approach to defined benefit (DB) scheme funding regulation is being “used too broadly” and in danger of suffering from “mission creep”, says Aon.
Schemes face 'multi-million pound' dashboard compliance bill
Pensions schemes will face significant additional working costs reaching into the millions of pounds to prepare their data for the pensions dashboard, according to Lane Clark & Peacock (LCP).
Seven steps to prepare for investment pathways
As the deadline draws nearer for the implementation of investment pathways, Tim Jablonski sets out what IGCs and GAAs will need to scrutinise.
PPF and DWP seek appeal over Hampshire implementation
The Pension Protection Fund (PPF) and Department for Work and Pensions (DWP) will appeal court judgments relating to the way the lifeboat fund pays compensation.
Long-running Staveley court case clarifies rules on pension transfers in ill-health
The long-running HM Revenue & Customs (HMRC) v Parry & Ors case, otherwise known as the Staveley case, has concluded Staveley’s actions gave rise to an inheritance tax bill, bringing clarity around pension transfers or switches made in ill-health.
A history and the rationale for DB schemes - part two: Maxwell and his impact on scheme funding
In the second feature of a three-part series, Iain Clacher and Con Keating look back at the UK’s defined benefit universe, exploring how the Maxwell scandal impacted scheme funding regulations.
TPR undertaking internal review after Norton Motorcycles case
The Pensions Regulator (TPR) chief executive Charles Counsell has written to Work and Pensions Committee (WPC) chairman Stephen Timms responding to questions over how the watchdog handled issues around the Norton Motorcycles pension schemes.
What the new corporate insolvency law means for the pensions industry
Chris Edwards-Earl and Sue Moore explore how the Corporate Insolvency and Governance Act 2020 will affect pension schemes.
Industry backs potential introduction of small pots taskforce
More than half of respondents to a Professional Pensions survey would like to see the government launch a small pots taskforce to stop them undermining the success of auto-enrolment (AE).
ITV offers £31m to support Box Clever Pension Scheme
ITV has submitted a £31m offer to The Pensions Regulator (TPR) for the Box Clever Pension Scheme after being forced to set out how it would financially support the scheme following a lengthy court process.
David Fairs: Four weeks left to influence the future of DB funding
As TPR’s consultation on the principles underlying the revised code of practice for DB funding enters the final straight, David Fairs set outs why you should give the watchdog your views.
GMP Equalisation Working Group releases member comms guidance
The reconciliation and rectification sub-committee of the Guaranteed Minimum Pension Equalisation Working Group (GMPEWG) has published guidance on communicating with members.
The new divorce system and how trustees can support members
Nykol O’Shea looks at how trustees can aid members in dividing pension wealth as the UK moves away from a fault-based divorce system.
WPC asks industry for ideas to solve small pots problem
The Work and Pensions Committee (WPC) has asked the industry for “workable solutions” to address the problem of problem of proliferating small pension pots.
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