If authorities really want to stop scams, they ought to make it safe for trustees to refuse a transfer that shows red flags, says Margaret Snowdon
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...
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The reconciliation and rectification sub-committee of the Guaranteed Minimum Pension Equalisation Working Group (GMPEWG) has published guidance on communicating with members.
The Pensions Administration Standards Association (PASA) has published follow-up guidance for administrators as they navigate their way out of the Covid-19 lockdown.
Schemes and administrators have been urged to strengthen their cybercrime resilience after heightened criminal interest in the sector.
The government’s focus on pensions dashboards and pension transfer times will require the industry to improve its data accuracy and administrative efficiency, says Anthony Rafferty.
The coronavirus crisis has highlighted the need for the industry to embrace technology in order to improve administration processes and data, says Girish Menezes.
Pensions and financial services consultancy Hymans Robertson has promoted three partners to the role of equity partner and nine others to partner.
While HMRC guidance on GMP equalisation contains both good and bad news for schemes, it does allow them to get going on the process, says John Wilson.
The Pensions Regulator (TPR) has issued another set of guidance for coping with the Covid-19 pandemic, with trustees urged to act work flexibly with administrators.
The Pensions Administration Standards Association (PASA) has issued special guidance for administrators as they grapple with the Covid-19 crisis.
Business resilience is not just ensuring people can work from home, but that administration can continue without human help, says Kim Gubler.
The industry needs more powers to protect savers by stopping scams in their tracks, but a network to share intel can help, says Margaret Snowdon.
Nominations for the third annual PP Women in Pensions Awards - which celebrate the achievements of women working in pensions or acting as a trustee - have now opened. Find out how to nominate here…
The Pensions Administration Standards Association (PASA) has published a research report and white paper urging the industry to work together to stop automation being derailed by poor quality data.
With the law not adequately protecting savers from scams, the pensions industry must be more direct with members about the risks of transfers, says Margaret Snowdon.
The data the industry holds is not yet good enough for the pensions dashboard, industry experts say.
With schemes facing more administration tasks than ever, it is important the industry attracts new talent to help with potential capacity problems, says Kim Gubler.
The Money and Pensions Service (MAPS) has made ten appointments across the pensions and wider financial sector to work on the practicalities of establishing pensions dashboards.
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
This week's Pensions Buzz respondents were mostly in agreement that 10 weeks is an appropriate length of time to conduct a full DB to DC transfer.
Trustees must have a "clear view" of the increasing number and sophistication of security risks, the Pensions Administration Standards Association (PASA) says as it launches guidance on cyber-security.
The publication of DC to DC transfer time performance data sets a benchmark for trust-based schemes. Jonathan Stapleton reports.