DWP
'Headaches' ahead for DC illiquid investment over 'fiendish complexities' of performance fees despite charge cap inclusion
The Pensions and Lifetime Savings Association (PLSA) has welcomed plans to incorporate performance fees in the charge cap, but the Association of Consulting Actuaries (ACA) warned performance fees are “not the only headache” for defined contribution (DC)...
Pensions Dashboard Programme begins hunt for digital architecture suppliers
The Pensions Dashboard Programme (PDP) has issued an invitation to tender for digital architecture suppliers to design and implement the ecosystem that will allow dashboards to work.
APPT launches responsible investment and climate change committee
The Association of Professional Pension Trustees (APPT) has launched a committee focused on responsible investment and climate change.
PP Monthly Digest: March 2021
Here it is, our monthly digest of the most important pension articles Professional Pensions has written and published over the last month, along with some contextual notes.
Five stories you may have missed this week
This week’s top stories include the government’s renewed focus on superfunds and Smart Pension’s commitment of £100m to a defined contribution private market default strategy.
UK mandatory pension provision half OECD average
Auto-enrolment (AE) contributions must rise to 12% to put the UK on par with the rest of the Organisation for Economic Co-operation and Development (OECD) countries, The Investing and Saving Alliance (TISA) says.
DWP questions trustees' understanding of 'S' in ESG in call for evidence
The Department for Work and Pensions (DWP) is seeking views on how trustees understand the role of social factors in pension scheme ESG policies.
Industry working group formed to tackle small pension pots problem
An industry co-ordination group has been established to take forward the recommendations of the Department for Work and Pensions’ (DWP’s) small pension pots working group.
DWP opens consultations on TPR powers, DC investments and charge cap barriers
The Department for Work and Pensions (DWP) is seeking views on two sets of regulations concerning The Pension Regulator’s (TPR) powers, as well as on measures to allow defined contribution (DC) schemes to invest more easily in a broader range of asset...
DWP hands out funding boost of £400,000 in retirement savings mid-life MOT trials
Schemes that help savers with later life planning as part of a government trial will receive a £400,000 funding boost, the Department for Work and Pensions (DWP) says.
DWP confirms general levy hike from April; Option one chosen
The Department for Work and Pensions (DWP) has confirmed that it will increase the general levy pension rates from April 2021 in line with its preferred option.
DWP delays consultation response on trustee oversight of investment consultants
The Department for Work and Pensions (DWP) has delayed further a consultation response and final regulations to enact requirements relating to investment consultants.
Guy Opperman: Landmark legislation moves pensions into the digital age
The Pension Schemes Act 2021 will revolutionise savings and help build back better and greener, says Guy Opperman.
'Disappointed' PLSA calls for structural reform as part of DWP's general levy proposals
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.
Five stories you may have missed this week
This week’s top stories included news that Pension Schemes Bill powers given to The Pensions Regulator to issue contribution notices will not be backdated, while the Department for Work and Pensions said it will ban flat-fee charging on auto-enrolment...
DWP sets de-minimis for flat-fee AE charges and launches work to standardise cost reporting
The Department for Work and Pensions (DWP) will ban the charging of flat fees on AE auto-enrolment (AE) pots below £100 and launch work on how to standardise cost and charges reporting.
Five stories you may have missed this week
This week’s top stories included news that buy-in and buyout volumes are set to reach £30-£40bn in 2021, while Pensions Infrastructure Platform owner announced its intention to float on the London Stock Exchange.
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.
Guy Opperman: Dashboards and consolidation go hand-in-hand
In the last of a five-part series of articles for PP, pensions minister Guy Opperman explains how pension dashboards will help consolidate pensions.
Webinar: Engage or divest? How can the pension industry make a real ESG impact
Professional Pensions is holding a webinar on how the pensions industry can make a real impact when it comes to ESG – asking what is better, to engage or to divest.
Barriers to pooled funds implementing trustees' voting policies 'not insurmountable'
The Association of Member Nominated Trustees (AMNT) has published a report outlining the barriers in allowing trustees’ voting policies to be implemented by fund managers in pooled fund arrangements.
Industry supportive of DWP's DC proposals but warns of unintended consequences
The Department for Work and Pensions’ (DWP) consultation on improving defined contribution (DC) outcomes has garnered support from the industry, but many have warned of potential unintended consequences.
How should trustees consider climate risks to sponsor covenants?
UK pension schemes are working hard to counter climate risks across investment portfolios, but the assessment of climate risks to sponsor covenant must be a key focus of schemes’ broader risk assessment, says Michael Bushnell.
Most read
