A THIRD party administrator has been fined £525,000 for failures in its systems and controls for producing and issuing documents to life and pensions policyholders.
Liberata Financial Services was fined by the Financial Services Authority for failing to produce and issue documentation to 30,000 of its 1.3 million policyholders, of which 161 suffered financial losses...
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.
This week's top stories include an article on climate activists from Extinction Rebellion crashing the PLSA's local authority conference, and an in-depth piece on the Court of Appeal's ruling on the BIC UK Pension Scheme case.
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