Steve Webb

Schemes need more certainty over the data they will have to provide for dashboards, as the minister is expected to take a heavier stance in 2021, experts say.

Pension professionals have called on The Pensions Regulator (TPR) to adopt a more pragmatic approach to regulation as the impact of Covid-19 hits defined benefit (DB) schemes and sponsors.

The intricacies of pensions legislation mean industry feedback can be valuable for governmental policy-making, says Sir Steve Webb.

The sponsoring employers of the UK’s largest pension schemes may have to put an additional £40-£45bn into their schemes over the next decade, Lane Clark & Peacock (LCP) warns.

The pensions industry is being given a fresh chance to feed into the Pension Schemes Bill as the Public Bill Committee launches a call for written evidence.

The Pension Protection Fund’s (PPF) new tapered approach to its risk-based levy could provide a crucial short-term lifeline for struggling schemes hard-hit by Covid-19, the industry says.

Pensions schemes will face significant additional working costs reaching into the millions of pounds to prepare their data for the pensions dashboard, according to Lane Clark & Peacock (LCP).

Amendments to the Pension Schemes Bill passed by peers in the House of Lords last night will see a wide-ranging suite of reforms for the pensions industry draw another step closer.

This week’s top stories included the Pension Protection Fund naming 11 firms to its trustee and support services panel, and the latest analysis of mortality rates from Covid-19 and its impact on pension scheme assumptions.

Lane Clark & Peacock (LCP) has called out HM Revenue & Customs' (HMRC) tax policy on flexible drawdown as "unacceptable", claiming it could lead to draconian tax penalties during Covid-19.