Darren Philp
DWP taskforce sets out actions to enable large-scale consolidation of deferred small pots
The small pots working group has made a number of recommendations on how to tackle the growth of deferred members with small pension pots within the AE pensions market – urging the government and industry to take action to enable large-scale mass transfers....
DWP proposes hiked general levy over three years; DB costs to more than double
The Department for Work and Pensions (DWP) has launched a consultation on the future of the general levy, seeking to close a potential £230m funding gap if rates remain unchanged.
Industry reaffirms need to gain savers' trust as dashboard data call for input closes
The data behind the pensions dashboard must be secure, transparent, and comprehensive enough to gain the trust of savers, the industry has said.
Treasury opens pensions tax relief administration consultation
The government has admitted it has never provided a “straightforward and proportionate” solution to the challenges in the current pensions tax relief system in a call for evidence this morning (21 July).
Dashboard data call for input launched as schemes urged to get 'on the front foot'
The Pensions Dashboards Programme (PDP) has launched a formal call for input, seeking industry views on data standards for the initial dashboards.
ABI calls for overhaul of pensions tax relief; Industry says change will be 'far from easy'
The UK’s system of pensions tax relief needs to be overhauled to make it fairer to the lower paid and younger savers, the Association of British Insurers (ABI) says.
Tapered allowance thresholds confirmed to rise by £90,000
The government will raise the two tapered annual allowance thresholds by £90,000 in a bid to reduce the tax impact on high-earning NHS staff.
DWP disappoints with 'unfortunate' decision to hike general levy by 10%
The Department for Work and Pensions (DWP) says it will press ahead with a 10% increase to the general levy from 1 April, despite a severe industry backlash to a consultation on the issue.
Dashboards must learn from open banking
Lessons must be learned from open banking in order to make the pensions dashboard a success for the modern saver, says Darren Philp.
Stop, look, listen, think: What the DWP should do for the general levy
Government plans to increase the general levy will disproportionately hit members who have been auto-enrolled, says Darren Philp
General election 2019: the pensions manifesto the industry wants to see
With political parties drawing up their manifestos for next month’s general election, Kim Kaveh explores the industry’s ambitions for future pensions policy.
Milestone for Star Initiative as it reaches 50 participants
The government-backed Star Initiative has reached 50 signatories, surpassing its initial target of 30. Holly Roach looks at the project’s progress.
Governance and investment innovation in DC
Improvements in governance are leading to increasing investment innovation in DC. In this roundtable, panellists discuss charges, alternative investments and how schemes are approaching ESG
Poor governance just as bad for DC funds as high costs
Low member engagement, poor scheme governance, and multiple pots can be equally as detrimental to defined contribution (DC) funds as opaque charges and high costs, research finds.
Darren Philp: We need an informed debate about costs and charges
Smart Pension's head of policy and communications says Now Pensions' AE index was propaganda but raises the issue of the long-term effect of charges.
Reaction: FCA contingent charging ban proposal welcomed by industry but challenges remain
The industry has broadly praised the Financial Conduct Authority's (FCA) proposal to ban contingent charging on defined benefit (DB) transfer advice as a move towards improving retirement outcomes.
Industry split on DC investment innovation proposals
Initial responses to the government's consultation on DC investment innovation reveals a mixed views on a range of its proposals. Kim Kaveh reports.
The glass is half full for the future of dashboards
Darren Philp says while the DWP's response to the pension dashboard consultation is a step forward, there is still much to do to ensure success of the project
How schemes are bracing for AE contribution rate hike
As AE contribution rates rise to a minimum of 8% in just a few days time, Kim Kaveh speaks to four master trusts about their preparations for a potential change in member behaviour.
Smart Pension applies for authorisation
Smart Pension has submitted its master trust authorisation application to The Pensions Regulator (TPR), joining at least 14 other master trusts awaiting response.
All we are saying... is give CDC a chance
Darren Philp argues collective defined contribution could really come to life this year if innovation is allowed to thrive.
Industry welcomes dashboard feasibility report but strong governance 'essential'
The industry has welcomed the Department for Work and Pensions' (DWP) feasibility report into the pensions dashboard as a move towards improving member outcomes.
TPR urged to name master trusts exiting the market
The Pensions Regulator (TPR) should reveal the names of master trusts that will not apply for authorisation and take a measured approach, industry experts have said.
Hyperbolic discounting and political temptation: Why Brexit-fuelled AE reversal would be a 'monumental' mistake
The home secretary has suggested AE should be scrapped in the event of a no-deal Brexit. Darren Philp explains why this would be misguided
