The Pensions Regulator (TPR) has significantly increased the use of its formal powers to ensure small and micro employers comply with their auto-enrolment (AE) obligations.
The watchdog's interventions between April 2015 and March 2016 had increased by 306% since the previous year, using its formal powers 8,812 times in the period, according to its annual commentary and analysis....
The Pensions and Lifetime Savings Association (PLSA) has expressed it is disappointed with the Department for Work and Pensions’ (DWP) general levy consultation – saying there should be no increase in the levy without structural reform.
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.