Law and Regulation

The European Court of Justice (ECJ) has rejected attempts by the UK government to block the introduction of a financial transaction tax (FTT) in several countries.

Master trusts are set to come under further scrutiny following the publication of The Pensions Regulator (TPR) and the Institute of Chartered Accountants in England and Wales' (ICAEW) assurance framework.

Schemes can expect to get clarity as to what the guidance guarantee entails by the end of the year according to pensions minister Steve Webb.

The cost of providing the guidance guarantee will fall on schemes according to pensions minister Steve Webb.

The Financial Conduct Authority (FCA) has fined Invesco Perpetual £18.6m for exposing investors to more risk than they had been led to expect in funds including Neil Woodford's giant income portfolios.

PwC has urged the government to scrap the state pension age (SPA) after research found four out of ten people want more flexibility around when they can access their retirement benefits.

The majority of the industry is far from optimistic that auto-enrolment and a flat-rate state pension will give workers enough to retire on, PP research finds.

Two thirds of the pension industry think the government should consider compulsory saving to make sure as many workers as possible had something to supplement their state pension.

Seven out of ten people in the industry do not believe the combination of statutory auto-enrolment and new flat-rate state pension will give workers enough to retire on.

The majority of the industry believes auto-enrolment (AE) in its current form will not deliver the retirement income targeted by the Pensions Commission.