Royal London
Guy Opperman reappointed as pensions minister following cabinet reshuffle
Guy Opperman has held onto his role as minister for pensions and financial inclusion after an action-packed cabinet reshuffle yesterday.
Ill-health early retirees fined for breaching pension tax relief limits
Savers who take an early retirement after becoming ill or sustaining severe injury are being increasingly harshly penalised for breaching pension tax relief limits, according to Royal London.
MSCI publishes Principles of Sustainable Investing
MSCI is calling for all investors globally to more readily integrate ESG considerations throughout their investment processes to contribute to “an effective balanced transition towards a sustainable economy”.
Border to Coast signs UN-backed Principles for Responsible Investment
Border to Coast Pensions Partnership has become a signatory of the United Nations supported Principles for Responsible Investment (PRI).
Five stories you may have missed this week
This week’s top stories include reports of HM Treasury’s plans to give higher tax relief to those earning over £110,000, and Sir Steve Webb’s move from Royal London to Lane Clark and Peacock.
Sir Steve Webb to join LCP
Sir Steve Webb will join Lane Clark and Peacock (LCP) as a partner, leaving Royal London where he is currently director of policy.
Royal London signs UN Responsible Investment agreement
Royal London has signed up to the United Nations’ Principles for Responsible Investment (PRI) as part of a streamlined ESG focus.
Simpler annual benefit statement proposals get positive response from industry
As the DWP’s consultation on simpler annual benefit statements closes, Holly Roach looks at the industry’s response.
Government reintroduces pension schemes bill in Queen's Speech
The government will reintroduce the pension schemes bill as part of an “ambitious programme of domestic reform”, the Queen’s Speech confirmed today.
DB trustees urged to engage with advisers to avoid 'reputational damage'
Pension scheme trustees should actively engage financial advisers if members are looking to transfer out of their defined benefit arrangements and washing their hands of the process does not eliminate risk, a study has found.
Govt in 'quick fix' move to pay NHS workers' pension tax bills
The government is to pay the tax bills of NHS workers caught out by changes to pension contribution limits who have been turning down additional work for fear of running up large tax bills.
Why aren't general election campaigns about pensions?
Pensions are too complex an issue to discuss on the general election campaign trail. Steve Webb says this is probably a good thing.
Contingent charging ban proposal gets mixed responses in FCA consultation
The FCA’s consultation on banning contingent charging on DB transfer advice has closed. Kim Kaveh looks at the industry’s responses.
Pension savers recoup record amount of overpaid income tax
HM Revenue and Customs (HMRC) paid back over £54m in tax on pension withdrawals during the three months to 30 September – the highest quarterly amount since the introduction of Freedom and Choice in 2015.
Pension freedom withdrawals reach £30bn
Over £30bn has been withdrawn from pension pots since Freedom and Choice was introduced in 2015 for those aged over 55, according to latest data from HM Revenue and Customs (HMRC).
OTS outlines demands for pension tax system overhaul
The Office of Tax Simplification (OTS) has called on the government to review its “complicated” pension tax measures and simplify engagement with the system.
Opperman writes to 50 schemes demanding action on ESG
Pensions and financial inclusion minister Guy Opperman has written to the 50 largest pension schemes requesting action to combat climate change.
Royal London and LCP call for wider access to partial DB transfers
There needs to be wider access to partial transfers out of defined benefit (DB) schemes, according to a joint paper published by Royal London and Lane Clark & Peacock (LCP).
Life expectancy improvements slow as think-tank suggests faster state pension age rise
The Centre for Social Justice has proposed raising the state pension age to 75 by 2035, despite a slowdown in mortality improvements. Holly Roach reports
How diverse are DC default strategies?
Punter Southall Aspire has published a report looking at the disparities in DC default fund approaches. Kim Kaveh analyses the data.
Mid-life support is 'crucial' for both employers and employees
Mid-life support for employees can be a win-win scenario for both employees and employers, according to the Centre for Ageing Better.
Fighting fire with fire: Why reverting public sector reforms will create winners and losers
The various potential routes for the government to respond to the McCloud judgment will mean some members lose out, writes Moira Warner.
Royal London reports drop in pension sales in H1 as DB transfers slow down
Royal London's new business pension sales fell by 4% over the course of a year primarily due to a slowdown in defined benefit (DB) transfers, the firm's half year results reveal.
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