Guy Opperman

Guy Opperman says two page, simpler statements as well as an annual ‘season’ in which to issue them could be transformative steps for the UK pensions industry

The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.

This week’s top stories included a warning from Lincoln Pensions on the “triple whammy” faced by sponsor covenants, while MPs called for further input on the Pension Schemes Bill.

A second pensions bill is likely during the “life of this parliament”, according to pensions and financial inclusion minister Guy Opperman.

A “legitimate debate and discussion” is needed over future auto-enrolment (AE) contribution rates, says Guy Opperman, and that could take place next year.

Consolidation across defined benefit (DB) and defined contribution (DC) schemes is the most-anticipated trend for the UK pensions industry over the next five years, the Pensions and Lifetime Savings Association (PLSA) has found.

The BT Pension Scheme (BTPS) has become the latest pension fund to commit to a net-zero investment strategy by a fixed date in order to mitigate the financial risks from climate change.

The Pension Schemes Bill has been passed in the House of Commons at the second reading, laying the groundwork for its final approval.

Sustainable pension investments are vital in overarching plans to push the UK to net-zero carbon emissions, Guy Opperman says.

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.