Law and Regulation
Opperman: I can see force of fresh pensions commission
Guy Opperman has indicated his support for a fresh pensions commission as the government seeks to understand how to progress pensions policy in a wide range of areas.
Minimum AE contribution rates could rise to 12% by 2030
Auto-enrolment (AE) minimum contribution rates could rise to 12% by 2030, with a 50/50 split between employer and employee, the Pensions and Lifetime Savings Association (PLSA) says.
PBUK - Charles Counsell: TPR will not stand still amid sea-change of challenges
The Pensions Regulator (TPR) will continue to change under the helm of Charles Counsell as it rolls out more of its TPR Future programme and develops a long-term strategy, he has said.
Where the regulator needs to be clearer
Panellists at an industry roundtable discuss their need for more clarity and balance from the regulator. James Phillips reports
Why trustees need to think about financial sanction checking
Trustees don't usually think about financial sanctions. But Edward Brown says they should be aware of the issue and take steps to minimise risks.
Court of Appeal rejects ITV appeal against TPR in Box Clever case
The Court of Appeal has dismissed ITV's appeal against a financial support direction (FSD) issued by The Pensions Regulator (TPR) in a long-running case over the Box Clever Pension Scheme.
Hymans Robertson calls for clarification over impact of CMA order on LGPS funds
Local Government Pension Scheme (LGPS) funds must set investment objectives after the competition watchdog expanded those caught by its market investigation, but more clarity is needed, Hymans Robertson has said.
Professional trustee accreditation process intended to launch on 1 July
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).
TPR launches pilot to boost single-employer DC trust oversight
The Pensions Regulator (TPR) has launched a pilot to ensure single-employer defined contribution (DC) schemes are meeting their legal obligations and properly governing default arrangements.
CMA takes final step in reform of investment consultants and fiduciary managers
The Competition and Markets Authority (CMA) has issued a legally-binding order in a bid to help pension trustees make better decisions for the £1.6trn of retirement assets they oversee.
GDPR a year on: Seven action points for trustees
Claire Rankin and Brent Wright look at what trustees should focus on 12 months after the introduction of wide-ranging data regulations and TPR's cyber security guidance.
Should master trusts adopt CDC?
Last month, a roundtable looked at the future of CDC and whether master trusts are well-placed to provide such an arrangement. Kim Kaveh reports
Pensions minister admits incorrect state pension forecasts for over 300,000 members
Guy Opperman has admitted incorrect state pension forecasts have been issued for a third of a million people since 2016 with defined benefit (DB) members with "complex" work histories facing a "significant problem".
'High earning' NHS doctors to be given flexible pensions
Senior NHS clinicians could be offered an option to halve their pension contributions in exchange for also halving the rate of pension growth.
HMRC ditches appeal over lifetime allowance breach
Accidental breaches of lifetime allowance fixed protections could no longer result in onerous tax bills after HM Revenue and Customs (HMRC) dropped its appeal of a landmark case.
Advice firms that did not answer FCA DB probe could see permissions revoked
Financial advice firms that did not respond to the Financial Conduct Authority's (FCA) market-wide defined benefit (DB) transfer questionnaire could see their regulatory permissions revoked.
Asset managers told to disclose engagement policies to pension funds
Asset managers must begin publishing engagement policies for investee companies in a bid to improve stewardship, transparency, and stakeholder relationships.
AMNT fund manager review finds 'utterly unacceptable' voting policies and practices
The majority of fund managers do not have voting policies or guidelines on climate-related risks and diversity, an Association of Member Nominated Trustees (AMNT) survey has found.
The dangers lurking in investment manager contracts
Judith Donnelly explains why pension trustees need to review and negotiate investment documents and highlights some of the worst examples of unfair clauses
Industry backs 'gentle hand' of TPR supervision
The Pensions Regulator (TPR) is right to introduce new regulatory initiatives for 1,000 schemes as part of its clearer, quicker and tougher approach, this week's Pensions Buzz respondents said.
Charity head pleads not guilty to defrauding pension scheme
The former head of a charity for disabled people has denied defrauding its pension scheme of more than £250,000, sending the case to a full jury trial.
Putting governance at the top of the agenda
Elizabeth Bostock says the industry must move away from positioning governance as something to just satisfy the regulator
Dunnes Stores DC trustees replaced after 'governance failures'
Pension trustees of Dunnes Stores in Northern Ireland have been stopped from running its defined contribution (DC) scheme by The Pensions Regulator (TPR), following "a catalogue of governance failures".
Stagecoach takes legal action against DfT after focus on 'unquantifiable' pension risks
Stagecoach has launched action against the Department for Transport (DfT), claiming it breached its statutory duties in connection with the West Coast Partnership railways franchise when disqualifying the firm over pension funding issues.
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