Spring Budget announcement
The industry has provided a predominantly negative response to the confirmation today that the lifetime allowance will be frozen at £1,073,100 until April 2026.
The Pensions Regulator (TPR) has agreed a settlement in its anti-avoidance case against the current owners of the bed manufacturer Silentnight.
Chancellor Rishi Sunak has plans to freeze the lifetime allowance for the rest of the current parliament in a "stealth tax" on the wealthy, according to reports.
The Association of Consulting Actuaries (ACA) has set out six key reform areas it is calling on the government to address before the end of the current parliament.
Enforcement activity carried out by The Pensions Regulator (TPR) between October and December 2020 saw auto-enrolment (AE) powers used on a total of 24,799 occasions, up 8,200 from the instances in Q3.
The government has drawn a line under talk of broad reform of the pension system for higher-paid NHS workers, such as doctors who face high tax charges, opting instead to build on flexibilities introduced last year.
The government has outlined updated requirements for schemes in a new consultation confirming Task Force on Climate-related Financial Disclosures (TCFD)-aligned disclosures will be mandatory across the board by 2025.
New legislation is needed to push pension trustees and asset managers to consider ESG factors, Hope William-Smith reports.
More than half (59%) of schemes support the call for an extension of regulatory easements and flexibilities beyond early 2021, the Pensions and Lifetime Savings Association (PLSA) says.
The Ministry of Housing, Communities and Local Government (MHCLG) must outline the McCloud regulations for the Local Government Pension Scheme (LGPS) in England and Wales urgently to ensure scheme administrators are not overwhelmed, Aon says.
We are now approaching the first anniversary of trustees required to set strategic objectives for their investment consultants, Grant Suckling writes.
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 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.
Legislation formalising trustees’ ESG duties could be overly prescriptive and lay down too much pressure on schemes, the industry has told PP.
Occupational pensions schemes will be required to direct savers to take guidance on pension withdrawals under new provisions to boost engagement.
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.
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.
Pensions and financial inclusion minister Guy Opperman has confirmed a cross-sector working group to address the problems caused by small pension pots.
Outgoing chief executive calls on regulator to change
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.
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.
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.
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.