The delayed launch of a service to check the protection status of members following the lifetime allowance (LTA) cut will mean extra work for administrators.
HM Revenue and Customs (HMRC) had been due in October to launch the service designed to help third-party administrators (TPAs) check LTA levels of members. But it revealed this has been "delayed slightly"...
Partner Insight: Members' evolving needs and expectations are driving changes in scheme administration. As the pensions landscape inevitably continues to change, how will your scheme's approach need to develop to keep pace?
The Pensions Regulator (TPR) is "working closely" with government contractor Interserve and the trustees of its defined benefit (DB) pension schemes, it has confirmed.
The industry has welcomed the Department for Work and Pensions' (DWP) consultation on defined benefit (DB) consolidation as a way to address scheme covenant issues.
BMO Global Asset Management has opened a UK fiduciary management business, promising a "truly open architecture" approach to deliver "better client outcomes".