DWP
Keep it simple, stupid
Tax simplification must return to the top of the government’s pensions agenda in order to boost saving potential, says Alan Pickering.
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 levy increase gets broadly negative response from industry
The Department for Work and Pensions’ consultation on increasing the general levy has closed. Holly Roach looks at the industry’s response to its proposals
PMI Student Essay Competition: What the dashboard can learn from open banking, Midata and Fitbit
LCP’s Ella Purkiss was the winner of the PMI's second student essay competition. In her paper, she sets out her ideas as to what the industry can learn from other sectors when designing and delivering the pensions dashboard.
DWP annual benefit statement consultation questions voluntary adoption
The Department for Work and Pensions (DWP) has launched a consultation setting out proposals for the adoption and launch of simpler annual benefit statements. Holly Roach reports
Pensions bill 'lost' amid election uncertainties, says Gowling
For the pensions industry, the 12 December general election means the long-awaited pensions bill is “lost”, but probably “not forgotten”, according to a blog published by law firm Gowling.
Governance more important than member engagement, say Buzz respondents
This week’s 96 Pensions Buzz respondents said good governance was more important than member engagement, noting the former could lead to the latter.
DB consolidation: Weighing up the options
A panel of experts have shared their views on how DB schemes can make good consolidation decisions. Kim Kaveh reports from the PLSA’s annual conference .
Revamped wake-up packs 'still not enough' for savers
Simplified, one-page pension wake-up packs launched last week, but the industry does not agree that they will make much difference to members’ saving attitudes. Holly Roach reports
Robin Ellison: Why we must 'strenuously resist' TPR's demand for more cash
The volume of regulation and the cost of regulators has risen sharply over the past decade. Robin Ellison asks if it is time for a rethink.
DWP proposes levy hike as funded bodies see 'continuing change and growth'
The Department for Work and Pensions (DWP) has proposed increasing the general levy on occupational and personal pension schemes from 1 April 2020.
Schemes with poor record keeping should receive harsher punishments
Schemes with poor record keeping should be handed harsher punishments, say the majority of this week’s 83 Pensions Buzz respondents.
DWP to fix 'unintended' PPF rules in pension schemes bill
The government will change the law to allow the Pension Protection Fund (PPF) to aggregate pensions for the purposes of calculating compensation.
No one-size-fits-all for GMP equalisation
The GMP Equalisation Working Group has published its first guidance note to assist schemes in undertaking the process. Holly Roach discusses what schemes should do next
Opperman: Pensions bill is 'sat on my desk' and 'completely ready to go'
A pensions bill is completely ready to go and waiting for a Queen’s Speech, according to pensions and financial inclusion minister Guy Opperman.
Thérèse Coffey reaffirms government pension plans at Tory conference
Work and pensions secretary Thérèse Coffey has reaffirmed the Department for Work and Pensions’ (DWP) pension commitments just over three weeks after taking office.
Why changes to SIPs will be positive but not radical
From October, trustees need to show how they are factoring ESG issues into investment decisions. Holly Roach explores why the changes may not be radical but could boost member engagement.
Industry generally positive over TPR guidance on investment governance
As The Pensions Regulator’s consultation on investment governance guidance closes, Holly Roach looks at the industry’s response.
Thérèse Coffey becomes work and pensions secretary after Amber Rudd resigns
Amber Rudd has resigned as secretary of state for work and pensions with immediate effect, with Thérèse Coffey named as her successor.
Ombudsman to appoint COO and NEDs after government review
The Pensions Ombudsman (TPO) must make significant changes to its leadership structure in order to provide "additional insight… and more challenge on organisational strategy", a governmental evaluation has concluded.
DWP to legislate for additional ombudsman powers to facilitate early resolution
The government is looking to bring forward legislation to give The Pensions Ombudsman (TPO) additional powers, including an early resolution function, "in due course".
TPR consults on investment governance guidance for CMA recommendations
The Pensions Regulator (TPR) is inviting responses from pension trustees and advisers in a consultation on four draft guides to support tougher investment governance rules.
Guy Opperman reappointed as pensions and financial inclusion minister
Guy Opperman will remain in post as pensions and financial inclusion minister, it has been confirmed.
Amber Rudd to remain work and pensions secretary
Amber Rudd has not been moved out of her job as secretary of state for work and pensions amid concerns the pensions industry could have had its seventh politician in that office since the 2015 general election.
