UK - The government is ignoring evidence about the effects of the Inland Revenue's proposed £1.4m lifetime pensions limit because the truth is politically unacceptable, experts claim.
Society of Pensions Consultants president Donald Duval said that if the limit increased in line with prices, it was very likely that average earnings would rise faster.
And Duval said that if this was the case far more than 5000 people – the government’s estimate – would be hit by the cap.
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
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Engagement in pensions is rising but there are still a number of barriers to overcome. Natanje Holt looks at the key issues that need to be tackled