Law and Regulation

The Department for Work and Pensions (DWP) has launched a review to assess the effectiveness of costs, charges and transparency measures in protecting pension member outcomes.

The Pensions Ombudsman (TPO) has ordered a former owner of Norton Motorcycles to pay back £14m of pension fund monies that he had invested in the struggling sponsor.

Pension Insurance Corporation has reiterated its call for the establishment of a new consolidation vehicle, run by a not-for-profit agency, to target smaller underfunded schemes with weak sponsors.

The UK’s system of pensions tax relief needs to be overhauled to make it fairer to the lower paid and younger savers, the Association of British Insurers (ABI) says.

The Univar Company Pension Scheme has been granted court permission to change its indexation protection from the Retail Prices Index (RPI) to the Consumer Prices Index (CPI).

The compensation caps applied by the Pension Protection Fund (PPF) have been deemed age discriminatory by the High Court in another slap down of the lifeboat regime.

The government has amended its Corporate Governance and Insolvency Bill to give the Pension Protection Fund (PPF) and The Pensions Regulator (TPR) a greater role in corporate restructurings.

The Pensions Regulator (TPR) must be “alert” to the risk of unscrupulous employers taking advantage of Covid-19 flexibilities, the Work and Pensions Committee (WPC) says.

The Money and Pensions Service (Maps) has started a six-week period of informal market engagement with potential suppliers of the digital architecture for the pensions dashboards.

With the launch of an interim regime, the consolidation market is set to take off. But before superfunds begin taking on schemes, the regulator must have 'rigour and understanding' of the market, David Fairs tells James Phillips.