The Department for Work and Pensions (DWP) has set out plans to impose a regulatory ban on member-borne commissions on service providers, dismissing concerns the responsibility could fall entirely on trustees.
It proposed draft regulations to stop providers from levying a charge on members to recover the costs of commission payments to advisers. This is in response to the government's wider consultation last...
The Pension Regulator’s (TPR) strengthened powers under the Pension Schemes Bill could lead to a revival of its clearance process, according to advisers and lawyers.
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
Online provider Pension Bee has created a flexible pension for self-employed savers, allowing them to make contributions according to their income.
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.