TPR

Former BHS owner Dominic Chappell potentially faces his fourth personal bankruptcy in order to pay £9.5m of contributions he owes to the failed retailer’s pension schemes.

The Pensions Regulator (TPR) has launched a pledge initiative to encourage trustees to commit to a step up in processes to protect member interests and combat pension scams.

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.

Most defined benefit (DB) schemes (70%) would not meet The Pensions Regulator’s (TPR) ‘fast track’ requirements, according to analysis by Hymans Robertson.

New legislation is needed to push pension trustees and asset managers to consider ESG factors within their legal duty to beneficiaries, as well as ensuring trustees are up to standard, ShareAction says.

The Department for Work and Pensions’ (DWP) consultation on improving defined contribution (DC) outcomes has garnered support from the industry, but many have warned of potential unintended consequences.

Peter Stanley and Clifford Sims set out why and when trustees are expected to listen to advice.

Occupational pensions schemes will be required to direct savers to take guidance on pension withdrawals under new provisions to boost engagement.

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.

Caroline Kurup explores the latest TPR guidance on superfund transfers and what scheme trustees should be considering