Steve Webb

Natasha Browne digs into the detail of proposals for a federated auto-transfer system for small DC pots

Pensions minister Steve Webb has urged the next government to introduce joint ministers across pensions, the ageing society and the Treasury to break down silos between the departments.

The Department for Work and Pensions (DWP) has published proposals to automatically transfer small pots when savers move jobs, with exemptions for funds outside the 0.75% charge cap.

Steve Webb believes his most notable achievement in five years as pensions minister has been the state pension reforms.

The industry responds to regulations intended to drive up DC standards

The Pensions Advisory Service (TPAS) has warned the public's perception of pensions could be damaged by disappointment in the Budget flexibilities.

Pensions minister Steve Webb has eased concerns the government could introduce regulations on decumulation products ahead of the general election.

Shadow pensions minister Gregg McClymont could lose his seat in May according to polling that found a 25.5% swing from Labour to the Scottish National Party (SNP) in his constituency.

The government has laid draft regulations before parliament to introduce a charge cap on defined contribution (DC) default funds alongside a raft of additional governance requirements for trustees.

The government's free Pension Tracing Service (PTS) will triple its staff number to 49 after experiencing an upsurge in demand last year.