Pensions Buzz
94% of industry backs increased trustee power to halt potential scam transfers
Trustees should have the ability to pause suspected scam transfers, respondents agreed in a Professional Pensions poll.
Sole corporate trusteeship not a positive trend, industry says
Almost half (49%) of the respondents to a Professional Pensions poll disagree that the trend toward sole corporate trusteeship is positive.
Have your say: Do you agree flat-fee structures should be scrapped on low-value DC pots?
In this latest Pensions Buzz, we want to know whether you agree with calls for flat-fee structures to be scrapped on low-value defined contribution pension pots.
WPC freedoms inquiry unlikely to be dominated by Covid-19 impacts, says industry
The economic impact of coronavirus is unlikely to overshadow the Work and Pensions Committee’s (WPC) inquiry into the success of pension freedoms, the industry believes.
Industry backs potential introduction of small pots taskforce
More than half of respondents to a Professional Pensions survey would like to see the government launch a small pots taskforce to stop them undermining the success of auto-enrolment (AE).
Industry opposed to attending face-to-face events in October
A majority of industry professionals polled opposed the idea of attending face-to-face events in October, Professional Pensions finds.
Industry must redouble leadership diversity efforts, trustees say
A majority of industry professionals polled believe greater strides must be made to improve the diversity of the leadership on trustee boards, Professional Pensions finds.
EXCLUSIVE: What's keeping pension professionals positive during lockdown?
It’s not all gloom and doom say Buzz respondents…
Covid-19 likely to push DC schemes into master trusts
The economic uncertainty generated by Covid-19 is likely to cause a large number of defined contribution (DC) schemes to move into master trusts, according to PP readers.
EXCLUSIVE: PP poll reveals industry fears over post-crisis return to BAU
Two-thirds of the industry don’t expect to return to non-home offices until at least September and 55% don’t expect a return to face-to-face business as usual for at least a year, exclusive PP research reveals.
Maps flags Covid-19 implications for pensions dashboard launch
The Money and Pensions Service (Maps) has published its first full report on progress on the pensions dashboard so far and has flagged “significant” delivery challenges in the face of the coronavirus pandemic.
Covenant most pressing issue amid Covid-19, say Buzz respondents
Any weakening of the sponsor covenant arising from the Covid-19 crisis is likely to have the most challenging impact for pension schemes, according to March's Pensions Buzz respondents.
Industry 'shoots itself in foot' with two trustee accreditation regimes
The industry has rejected the need for multiple professional trustee accreditation regimes after the Pensions Management Institute and Association of Professional Pension Trustees launched rival frameworks.
No industry consensus on scrapping high-rate tax relief
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.
TPR's decision on professional trustees was right, say peers
This week’s 89 Pensions Buzz respondents agreed with The Pensions Regulator’s decision to hold back from mandating the use of professional trustees.
Brunel's decision on ESG divestment could go either way, say Buzz peers
The Brunel Pension Partnership's decision on ESG divestment could go either way, say this week's 99 Pensions Buzz peers in split results.
Chair's statement rules are too harsh, say Buzz peers
This week's 104 Pensions Buzz respondents agreed that the regulations surrounding chair's statements are too harsh.
Form a permanent pensions commission, urge Buzz peers
This week’s 102 Pensions Buzz respondents were in agreement that a permanent pensions commission should be formed.
Industry split on combining GMP rectification and equalisation
One in three say bringing projects together will be more efficient.
Simpler statements will boost engagement, says industry
Nearly two-thirds of this week’s 133 Pensions Buzz respondents believe the introduction of simpler and standardised annual benefit statements will help more members engage with their pension.
DWP must review general levy calculation
A review of how the general levy is calculated must be undertaken by the Department for Work and Pensions, 70% of this week’s 90 Pensions Buzz respondents said.
NHS is not responsible for tapered allowance issues, says industry
The vast majority of this week’s 120 Pensions Buzz respondents rejected the idea that the NHS should bear any responsibility for members facing tax bills due to the tapered annual allowance.
Pensions too complicated for general election campaigns
Pensions are too complicated a topic for political parties to discuss in any detail on the general election campaign trail, a majority of this week’s 110 Pensions Buzz respondents said.
Pension schemes bill should be reintroduced in existing form, say respondents
Most of this week's 108 Pensions Buzz respondents agreed the pension schemes bill should be reintroduced in its exisiting form.
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