Pensions and Lifetime Savings Association
Government withdraws 10% general levy increase
The Department for Work and Pensions (DWP) has cancelled a planned rise to the general levy amid the ongoing Covid-19 outbreak.
Three weeks leaves 'no time' for trustees to explain £90,000 taper raise
The government has left pension schemes with insufficient time to prepare members for changes to tapered annual allowance thresholds, due to come into effect from 6 April.
'Draconian penalties' promised for schemes with poor dashboard data
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.”
DWP to legislate for DC consolidation 'nudge'
Small defined contribution (DC) schemes will be “nudged” into consolidation under new government plans to ramp up governance.
Opperman: 'Some people want me to be less of an innovator'
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.
Cross-industry task force issues guidance on stricter climate-related disclosures for pension schemes
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).
Diversity on trustee boards benefits scheme members
The Pensions Regulator’s industry working group on diversity is a step in the right direction, says Elizabeth Bostock.
Eight industry bodies go public with clause 107 drafting concerns
Trustees and their advisers could be “criminalised for doing the right thing” and left “fearful of acting” if Pension Schemes Bill wording is not amended, the Joint Industry Forum (JIF) says.
Granularity is the key to cost transparency
As the first reports under the cost transparency templates become due, Charlotte Moore looks at how schemes and their consultants can use the data
DWP disappoints with 'unfortunate' decision to hike general levy by 10%
The Department for Work and Pensions (DWP) says it will press ahead with a 10% increase to the general levy from 1 April, despite a severe industry backlash to a consultation on the issue.
Trustees face jail threat under 'extraordinary' pension bill provisions
PTL managing director Richard Butcher has warned trustees could face jail under proposed pension schemes bill additions to the Pensions Act 2004.
Most workers are unaware of pension pot size
More than half (54%) of workers do not know the size of their pension pots, according to research by the Pensions and Lifetime Savings Association (PLSA).
Net Pay Action Group urges government to deliver pensions tax manifesto pledge
The Net Pay Action Group (NPAG) is urging the government to deliver on its manifesto pledge to review unfair tax rules in pensions.
Conservatives commit to review of taper and net-pay issues
The Conservative party will hold reviews of the tapered annual allowance and net-pay schemes if it is elected back into government, it has said.
Julian Mund: How the PLSA is boosting member input
The PLSA is on a continuous drive to ensure all of its members are better engaged and represented in its policymaking. James Phillips speaks to Julian Mund about the progress so far.
Governance more important than member engagement, say Buzz respondents
This week’s 96 Pensions Buzz respondents said good governance was more important than member engagement, noting the former could lead to the latter.
Do we need to engage people with their pensions?
The industry has had little success engaging members with pensions over the past 20 years. Jonathan Stapleton says two initiatives currently underway may change this in the future.
TPR further delays DB funding code consultation until 'things have settled down'
The Pensions Regulator (TPR) will now seek to publish the first of two consultations on a revised defined benefit (DB) funding code in the new year, depending on the political environment.
Opperman: Doing nothing is not an option
The pensions schemes bill will digitalise pensions and provide savers with greater confidence for retirement, Guy Opperman has said.
NEST awards private credit mandate to BNP Paribas
Asset manager BNP Paribas has been awarded a private credit mandate by Nest following a competitive open tender.
NEST grows membership by nearly 30% in one year
The number of members to have ever used NEST rose by 28% over the 2018/19 fiscal year to 31 March, according to its research arm, NEST Insight.
Data held by schemes 'not good enough for the dashboard'
The data the industry holds is not yet good enough for the pensions dashboard, industry experts say.
Aegon debuts animated video summaries for members
Aegon has launched personalised animated video summaries for its members, in a bid to boost engagement.
PLSA: We will be captain of the pensions industry
The Pensions and Lifetime Savings Association (PLSA) will play a more proactive role in bringing people together and act as captain of the industry, its chief executive Julian Mund has said.
Most read
