DWP

While designed to boost member understanding, published statements of investment principles could muddy the waters and put members off altogether, says Anna Copestake.

Plans to improve value to members in defined contribution (DC) plans by improving investment options and governance while consolidating small schemes have been welcomed as a “wake-up call” for the industry.

The Department for Work and Pensions (DWP) has launched a consultation to improve saver outcomes and promote investment in green technology and infrastructure.

Lane Clark and Peacock (LCP) has urged the government to “look again” at the idea of ‘pot follows member’ to fix the burgeoning number of small pension pots getting lost.

This week’s top stories include the Universities Superannuation Scheme’s announcement of a delay to its valuation for 2020, while the government consulted on a proposal to force the largest schemes to publish their climate risk disclosures.

The government has put forward proposals to require the 100 largest occupational pension schemes – those with £5bn or more in assets and all authorised master trusts – to publish climate risk disclosures by the end of 2022.

Pensions schemes will face significant additional working costs reaching into the millions of pounds to prepare their data for the pensions dashboard, according to Lane Clark & Peacock (LCP).

The Pension Protection Fund (PPF) and Department for Work and Pensions (DWP) will appeal court judgments relating to the way the lifeboat fund pays compensation.

Consultants have warned that cost constraints are holding defined contribution (DC) schemes back, responding to a Department for Work and Pensions’ (DWP) consultation on the effectiveness of costs, charges and transparency measures.

The Pensions and Lifetime Savings Association (PLSA) has published guidance for trustees on the new requirements to publicly disclose their investment and responsible investment activity.