Guy Opperman

The Department for Work and Pensions (DWP) has cancelled a planned rise to the general levy amid the ongoing Covid-19 outbreak.

The Parliamentary Contribution Pension Fund has been criticised for continuing to invest in fossil-fuel heavy companies despite a push into renewable energies.

Pensions and financial inclusion minister Guy Opperman has warned schemes who do not have their data organised to the standard required for the pensions dashboard will face “draconian penalties.”

Small defined contribution (DC) schemes will be “nudged” into consolidation under new government plans to ramp up governance.

Guy Opperman says he will not slow down on aiming to implement “ambitious” programmes to tackle climate change while the government will also continue to intervene where it feels the industry is not doing enough.

A consultation has been launched on guidance to help schemes get to grips with assessing, managing, and reporting climate-related risks in-line with Task Force on Climate-related Financial Disclosures (TCFD).

Guy Opperman has now served as pensions and financial inclusion minister for 1,000 days in a tenure marked by myriad major changes to the pensions landscape.

Schemes must do more to lessen the financial risks of climate change, says Guy Opperman.

There was no industry consensus on the benefits and negatives of scrapping high-rate tax relief from this week’s 115 Pension Buzz peers in split results.

Guy Opperman has confirmed the earnings trigger for auto-enrolment (AE) will remain at £10,000 following this year’s annual review.