DWP

Confusion over the definitions of pay reference periods for auto-enrolment contributions could lead to employers underpaying pension contributions, a lawyer has warned.

A "simplification" of auto-enrolment legislation will be carried out in around a year's time, Steve Webb has said.

The Department for Work and Pensions has launched a consultation on creating an objective for the Pensions Regulator to consider the long-term affordability of deficit recovery plans for defined benefit schemes' sponsors.

The government will publish a call for evidence on two major changes to the way the way defined benefit deficits recovery plans are regulated tomorrow (Friday 25 January).

Rachel Dalton examines the forces closing in on money purchase.

In the age of instant communications and wide-spread personal publishing, campaigns are easy to start. If you want to shout about something, a couple of tweets or a blog can get the message out there fast.

Every quarter, PP takes the industry's temperature on government performance in pensions in the previous six months, asking whether it has improved, stayed the same or got worse. Every quarter so far revealed the same poor result.

The government is considering relaxing a black-and-white definition of "money purchase" to avoid shifting the goalposts on defined contribution schemes with guarantees, according to experts.

The Department for Work and Pensions has promised a better working relationship between the Pensions Regulator and the Financial Services Authority and said joint thematic reviews are planned.

Pensions minister Steve Webb has reiterated his opposition to a cap on scheme charges and said he prefers to "shame" or "praise" schemes and employers to encourage high quality provision.