Law and Regulation

The Box Clever Pension Scheme has started an assessment period with the Pension Protection Fund (PPF) to decide if it will have to enter the lifeboat fund.

Pension scheme administrators are set to come under greater scrutiny from HM Revenue and Customs (HMRC) as it builds on its ‘fit and proper' powers.

Shadow pensions minister Gregg McClymont could lose his seat in May according to polling that found a 25.5% swing from Labour to the Scottish National Party (SNP) in his constituency.

Proposals to let defined benefit (DB) members with small pots transfer out without taking advice are supported by the industry, according to research carried out by PP.

Industry figures have called for a bill preventing the use of corporate directors to include an exemption for pension trustee companies.

The European Commission has said that pension schemes should have a further two-year exemption from centrally clearing over-the-counter (OTC) derivatives.

The Treasury will make it a criminal offence for fraudsters to masquerade as Pension wise service providers after taking action against a suspected scam site.

The government has laid draft regulations before parliament to introduce a charge cap on defined contribution (DC) default funds alongside a raft of additional governance requirements for trustees.

The Financial Conduct Authority (FCA) has published the final rules on the Independent Governance Committees (IGCs) that must be set up by providers of contract-based schemes.

The government and regulators must define ‘good' retirement outcomes to help savers avoid fraud and poor results, the National Association of Pension Funds (NAPF) has urged.