UK - The Society of Pensions Consultants has teamed up with the Law Society to look at pensions sharing on divorce.
The move is outlined in a progress report on the SPC’s activities, which highlights in particular, the work of its administration committee and its dialogue with the National Insurance Contributions Office on the recovery of overpaid age-related contracted-out rebates.
SPC secretary John Mortimer said: “The move from defined benefit to money purchase provision in many firms will put the spotlight even more strongly on administration and the committee is planning for an ever more central role in the pensions debate.”
The SPC administration committee was set up two years ago in a bid to provide a centre of expertise drawn from organisations with a direct role in the day-to-day running of pension schemes.
It aims to see how developments in pensions legislation affect the way schemes are run.
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Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.