Law and Regulation

This year has been a busy one for pensions and 2015 looks to be very much the same. Squire Patton Boggs has highlighted 12 key areas for trustees to focus on in 2015.

The Financial Conduct Authority (FCA) must establish a ‘second line of defence' for retirees ahead of pension freedom or the industry faces another major mis-selling scandal, according to MPs.

Top stories last week include two decisions from the Ombudsman, a scandal over DC charges, proposals to fix the LGPS and a 12-year low for inflation. Here's what you might have missed.

The Pensions Ombudsman (PO) has ordered the trustees of the Capita Oak Scheme to grant a cash equivalent transfer value to a member trying to leave the plan.

Respondents were divided on whether regulators should censure schemes that do not take adequate steps to make sure defined contribution (DC) members take informed decisions at retirement, PP research finds.

DC charges branded "shocking rip off" as industry says things have to change

Up to £25.8bn of assets in contract-based and bundled trust-based defined contribution (DC) schemes is in funds charging 1% or more annually, according the Independent Project Board (IPB).

The Financial Reporting Council (FRC) has revised regulation around Statutory Money Purchase Illustration (SMPI) regulations to let providers use their discretion on assumptions relating to auto-enrolment increases and guaranteed annuity rates.

The Pensions Ombudsman (PO) has rejected a complaint against the trustees of the Baptist Ministers' Pension Fund alleging they failed to highlight the debt obligations of the sponsor.

Interest rates for the new 'pensioner bonds' announced at Budget 2014 have been set at a market-beating 2.8% for the one-year product and 4% for the three-year bond.