UK - The Pensions Bill lacks substance and detail, Conservative work and pensions spokesman David Willetts says.
Willetts likened work and pensions secretary Andrew Smith to “an ill-organised teenager who knows the exam has been due for years, but is still in a panic when he realises he has to sit the test in a few days’ time”.
He added: “There is much on administrative mechanisms, but little on the choices any government has to make in tackling a crisis as serious as we now face.”
But Smith dismissed the criticism and said the Bill was an important step forward in security and confidence in pensions.
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.