FCA
2021 outlook: What's next for regulation?
After a year that took everyone by surprise, experts tell Professional Pensions what could be on the horizon for regulation in 2021.
The top 20 opinion articles of 2020
What were some of the most read opinion pieces on Professional Pensions over the last 12 months? We look at some of the top articles from our commentators during the year.
Pension engagement still an uphill battle, FCA finds
The number of savers using information or guidance services such as Pension Wise is barely higher than three years ago despite efforts to promote the benefits, the Financial Conduct Authority (FCA) says.
Government infrastructure bank to partner with pension funds to support investment
The government will set up an infrastructure bank to support investment and to co-invest alongside investors including pension funds.
TPR expands Determinations Panel with appointment of new chair and four members
Former Financial Regulators Complaints Commissioner Antony Townsend is to become chair of an expanded Determinations Panel at The Pensions Regulator (TPR).
UK to issue first green bond and require firms to disclose climate risk
The government plans to cement the UK's position as a global centre for green finance have received a significant boost, with chancellor Rishi Sunak unveiling proposals to issue the country's first sovereign green bond next year and make climate risk...
Responsible investment bill proposed to provide 'clear pathway' on trustee ESG duties
New legislation is needed to push pension trustees and asset managers to consider ESG factors within their legal duty to beneficiaries, as well as ensuring trustees are up to standard, ShareAction says.
Simpler wake-up packs 'failing' to encourage savers to take up guidance
Simpler retirement ‘wake-up packs’ are not encouraging pension savers to take up free guidance, according to the Financial Conduct Authority (FCA).
Engage now on investment pathways to avoid February stand-off, IGCs warned
Providers are failing to engage early with their independent governance committees (IGCs) over the rollout of investment pathways despite the looming 1 February deadline, they have been warned.
Workplace schemes mandated to 'nudge' members into pensions guidance
Occupational pensions schemes will be required to direct savers to take guidance on pension withdrawals under new provisions to boost engagement.
Transparency Task Force publishes FCA 'wish list'
TTF wants greater consumer protection
The unstoppable force paradox: Supply and demand in the DB transfer market
Philip Dickinson looks at the impact of Covid-19 on the transfer market and how schemes and advisers can support members.
DC pot first-time access hit high record in March
Savers accessing defined contribution (DC) pension pots for the first time rose to an all-time high just before the coronavirus pandemic, Just Group says.
Guy Opperman welcomes FCA climate risk reporting plans
The Financial Conduct Authority’s (FCA) plans to usher in landmark climate risk reporting measures in 2022 have been welcomed by pensions and financial inclusion minister Guy Opperman.
FCA retirement data raises concerns over long-term sustainability of pension payments
The latest figures on retirement income from the Financial Conduct Authority (FCA) raise concerns about the long-term sustainability of pension payments, according to Just Group.
FCA's proposed value for money definition raises concerns
The pensions industry has raised some concerns around the Financial Conduct Authority’s (FCA) value for money definitions for workplace pensions.
Woolard: FCA set for 'painful lessons' in autumn reviews
Outgoing chief executive calls on regulator to change
Industry raises significant concerns over FCA consultation on advising on pension transfers
The industry has raised serious concerns that Financial Conduct Authority (FCA) transfer advice proposals on illustrative figures could hamper schemes’ ability to help members to understand their retirement options and force many to take full regulated...
Aegon, Aviva, and Scottish Widows top 2020 workplace pension solutions and AE ratings
Offerings from Aegon, Aviva, and Scottish Widows have taken the crown in the Financial Technology Research Centre’s (FTRC) annual workplace pensions and auto-enrolment (AE) ratings.
TPR needs power to halt suspected fraudulent transfers, report urges
Pension companies must be given the power to trigger an “urgent regulatory response” to savers at risk of fraud, while regulators should be able to override the right to transfer, The People’s Pension and The Police Foundation have said.
Trustees told to step up as FCA contingent charging ban takes effect
Trustees are set to have an increased duty of care to ensure employees and members make informed choices when accessing their pension, according to Wealth At Work.
Countering the increased threat of pension scams
Pension scams are not new, but the number of pension scams has soared by 400% since the beginning of the COVID-19 pandemic. Tom Williams asks what is a trustee’s role in protecting members against pension scams?
Regulators have not yet got to grips with how to close down crooks, warns TTF
The Transparency Task Force (TTF) has questioned whether the Financial Conduct Authority (FCA) is “fit for purpose” following years of concern relating to the manner in which it exercises its investigative powers.
PFS warns of post-lockdown pension transfer request 'spike'
A potential surge in pension transfer requests as a result of the economic fallout from lockdown could see demand for advice rocket, putting increased pressure on the profession, the Personal Finance Society (PFS) has warned.
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