Law and Regulation
Opperman: Government in 'daily contact' with industry over dashboard
The government is "in daily contact" with industry figures over the pensions dashboard as it prepares for the roll-out and its feasibility report, Guy Opperman has said.
Updated: Key dates for pensions
PP has compiled a list of what to watch out for over the coming months.
Exclusive: TPR spends nearly £60,000 on rebranding exercise and new logo
The Pensions Regulator (TPR) spent just under £60,000 on a rebrand, including the design of a new logo and implementation of a refreshed colour scheme, Professional Pensions can reveal.
IGCs face stronger ESG reporting duties under FCA plans
Contract-based schemes could face requirements to disclose their firms' policies on environmental, social and governance (ESG) issues under Financial Conduct Authority (FCA) plans.
Treasury rejects tax relief reform citing 'significant impact' on schemes
The government has rejected the Treasury Committee's call for fundamental and incremental changes to pensions tax relief, noting there is "no clear consensus".
Government should not require schemes to offer partial transfers - PP research
In this week's Pensions Buzz, respondents warned schemes being required to offer partial transfers could lead to too many administrative burdens
PLSA urges Hammond to address five pensions priorities in Budget
The government needs to boost pension schemes' access to illiquid investments, remedy the net-pay tax relief anomaly, and focus on securing a "successful Brexit" for pensions in its upcoming Budget, says the Pensions and Lifetime Savings Association (PLSA)....
Five stories you may have missed this week
This week's top stories include Smart Pension and Legal & General revealing a prototype demo of their workplace retirement income product, combining drawdown and annuities.
Johnston Press still seeking RAA as publisher put up for sale
Newspaper publisher Johnston Press is pushing on with hopes to detach itself from its defined benefit (DB) pension scheme as it launched a search for a buyer.
TPR fines Salvus Master Trust trustees for failing to invest £1.4m of savings promptly
Four trustees of the Salvus Master Trust have been fined by The Pensions Regulator (TPR) for failing to promptly invest £1.4m of member contributions.
HMRC 'looking at opportunities' to address net-pay tax anomaly
The government is set to review an anomaly which sees lower-paid workers in the majority of master trusts lose out on tax relief, it has confirmed.
Auditors' accountability to pension trustees faces CMA scrutiny
"Defective" company audits could mean millions of savers in pensions funds are "losing out", says the Competition and Markets Authority (CMA) as it launches a probe of the audit sector.
Former FCA advice director Linda Woodall dies
Former Financial Conduct Authority (FCA) advice director Linda Woodall died in September after leaving the regulator at the end of 2017.
Pensions tax relief faces cut as government seeks funding for NHS
Chancellor Philip Hammond is set to announce cuts to pensions tax relief in his Budget later this month in order to raise revenue to pay for NHS funding commitments, according to reports.
The big themes dominating pensions
The pensions landscape is full of change and opportunity, says a wide-ranging report. James Phillips explores some of the views on the changes afoot.
Govt urged to take action on net pay anomaly as experts sign letter to chancellor
Industry heavyweights have urged chancellor Philip Hammond to take action on the net pay pensions tax relief anomaly which affects lower-paid earners.
TPR urged to name master trusts exiting the market
The Pensions Regulator (TPR) should reveal the names of master trusts that will not apply for authorisation and take a measured approach, industry experts have said.
Opposite-sex civil partnerships will have 'limited impact' on scheme liabilities
Legislation allowing opposite-sex couples to register as civil partners is unlikely to have a significant impact on pension scheme liabilities, industry experts say.
Investment Association urges FCA to drop 'flawed' DC cost disclosure methodology
The Financial Conduct Authority (FCA) must ditch the methodology used to calculate transaction costs incurred by investment of defined contribution (DC) funds as a matter of urgency, the Investment Association (IA) says.
Opperman: Dashboard, DB and CDC legislation 'in next Queen's Speech'
The government is aiming to legislate for the pensions dashboard, defined benefit (DB) reform, and collective defined contribution (CDC) schemes next year, Guy Opperman has said.
Master trust authorisation is a good start but more needs to be done
Jonathan Stapleton says while the new rules will ensure master trusts are well run and have good systems, they won't necessarily ensure members are in the best schemes
What to expect from the High Court decision on Lloyds' GMP equalisation
With the High Court's judgment expected imminently, Victoria Ticha examines the possible outcomes and what it could mean for schemes
How involved should trustees get in DB transfers?
As the volume of transfer value requests grows, trustees must decide whether to take a minimalist or proactive approach with members. James Phillips explores the pros and cons.
30 master trusts leaving market as TPR's authorisation regime comes into force
The Pensions Regulator (TPR) has confirmed that 30 master trusts have or will exit the market, leaving 58 which will either need to apply for authorisation or exit in the coming months.
