Regulation
All I want for Christmas is... a submitted CMA compliance statement
We are now approaching the first anniversary of trustees required to set strategic objectives for their investment consultants, Grant Suckling writes.
Pension tax reform support remains high; Sunak flags potential changes
The majority of employers currently support the simplification of the pension tax regime, with evidence mounting of its adverse impacts, the Association of Consulting Actuaries (ACA) finds.
MPs jeopardising pension security without further bill amendments, Altmann says
MPs considering the Pension Schemes Bill in its final stage must push back on changes which could damage private pension viability, according to former pensions minister Ros Altmann.
Responsible investment bill ignites shoehorning concerns
Legislation formalising trustees’ ESG duties could be overly prescriptive and lay down too much pressure on schemes, the industry has told PP.
Workplace schemes mandated to 'nudge' members into pensions guidance
Occupational pensions schemes will be required to direct savers to take guidance on pension withdrawals under new provisions to boost engagement.
Appoint a minister for scam prevention, government urged
The government should consider handing to a minister the specific responsibility for tackling the growing number of scams across the finance sector, AJ Bell says.
Transparency Task Force publishes open letter to PM following meeting on pension scams
The Transparency Task Force (TTF) has published an open letter to prime minister Boris Johnson asking him to take a personal interest in pension scam problems and push for legislative flexibilities for scam victims.
Government launches small pots taskforce
Pensions and financial inclusion minister Guy Opperman has confirmed a cross-sector working group to address the problems caused by small pension pots.
Woolard: FCA set for 'painful lessons' in autumn reviews
Outgoing chief executive calls on regulator to change
TPR to remove late payment reporting flexibility from January
The time flexibility provisions introduced to help schemes which need to report late payments from employers for workplace pension schemes will be revoked, The Pensions Regulator (TPR) has confirmed.
Pension Schemes Bill will be law by the end of the year
Despite an anticipated delay in the Pension Schemes Bill being debated in the House of Commons, Guy Opperman has confirmed he fully expects it to be law by the end of 2020.
Pension schemes subjects of 'social engineering' in government climate risk disclosure proposal
Complying with the government’s proposals for climate risk disclosure is an unnecessary burden on schemes which are being used as vehicles for social engineering, PP poll respondents say.
Calls for greater trustee power as WPC scam inquiry consultation closes
Trustees need to be given the choice to directly refuse pension transfers if the industry is to properly plug the proliferation of scams, the Work and Pensions Committee (WPC) has been told.
Regulators have not yet got to grips with how to close down crooks, warns TTF
The Transparency Task Force (TTF) has questioned whether the Financial Conduct Authority (FCA) is “fit for purpose” following years of concern relating to the manner in which it exercises its investigative powers.
Industry reaffirms need to gain savers' trust as dashboard data call for input closes
The data behind the pensions dashboard must be secure, transparent, and comprehensive enough to gain the trust of savers, the industry has said.
Large DB schemes set to test PPF Covid-19 sustainability
The collapse of several long-established employers with large defined benefit (DB) schemes could vastly overtake calculations for a £20bn hit to the Pension Protection Fund (PPF), warns Lane Clark & Peacock (LCP).
WPC freedoms inquiry unlikely to be dominated by Covid-19 impacts, says industry
The economic impact of coronavirus is unlikely to overshadow the Work and Pensions Committee’s (WPC) inquiry into the success of pension freedoms, the industry believes.
Industry welcomes timely WPC impact of freedoms inquiry
A three-pronged Work and Pensions Committee (WPC) inquiry to review the impact of pension freedoms has been welcomed by the industry as pension savers continue to fall victim to sophisticated scams.
WPC confirms inquiry into impact of freedoms; Scams to top extensive agenda
Pensions scams will be the key focus in the first part of a Work and Pensions Committee (WPC) inquiry reviewing the impact of the introduction of pension freedoms five years on.
PP Live: APPT code of practice on sole trusteeship expected this summer
The code of practice on sole trusteeship being developed by the Association of Professional Pension Trustees is expected to be published within months, chairwoman Nita Tinn says.
PP Live: TPR to open codes of practice review consultation
The Pensions Regulator (TPR) will open a consultation on planned changes to its codes of practice by the end of the year.
Government suffers defeats in House of Lords over Pension Schemes Bill
Amendments to the Pension Schemes Bill passed by peers in the House of Lords last night will see a wide-ranging suite of reforms for the pensions industry draw another step closer.
FCA bans contingent charging on DB transfers
The Financial Conduct Authority (FCA) has banned the use of contingent charging in defined benefit (DB) transfer advice.
Andrew Bailey: BoE readying further 'unprecedented' response to coronavirus crisis
The Bank of England (BoE) is "ready to do more" to fight the economic consequences of the coronavirus pandemic and the measures put in place to tackle it, including further interest rate cuts and an expansion of its corporate financing facility, according...
