News

Two out of five advisers have seen an increased number of clients going ahead with defined benefit (DB) transfers despite recommendations against, according to Prudential research.

The Centre for Policy Studies (CPS) has called on the government to reform incentives for auto-enrolment (AE), which it estimates could save the Treasury £10bn annually.

The Financial Conduct Authority (FCA) has fined an individual compliance oversight officer £75,000 for "failing to exercise due skill, care and diligence" with regard to pension transfers in his role at two firms.

Professional Pensions has won the ShareAction award for best coverage of responsible investment issues.

This week's top stories include a landmark Supreme Court ruling on survivor benefits, DWP plans to launch a DB white paper in winter and a proposal the industry should design a pilot dashboard

Respondents say GMP equalisation is too complex, costly, and should be binned.

The reduction in the Money Purchase Annual Allowance (MPAA) from £10,000 to £4,000 per year will apply retrospectively from April 2017, after the Treasury confirmed plans to reintroduce tax relief cuts from that date.

Aberdeen Life has appointed NEST chair Otto Thoresen and David Hare as non-executive directors to its board.

The Department for Work and Pensions (DWP) will publish a white paper on the future of defined benefit (DB) schemes this winter, which will cover consolidation and extra powers for the regulator.

The Supreme Court has ruled an exemption in the Equality Act, which allows schemes to exclude same-sex partners from spousal benefits accrued before December 2005, is discriminatory and breaches EU equality laws.