Govt cancels increase to general levy
The Department of Work & Pensions has withdrawn the planned 10 per cent increase in the general levy, due to take effect this April. This levy is applied on all occupational and...
Pensions
TPR green lights suspension of deficit reductions and use of pre-crash market assumptions
Trustees can suspend deficit reductions, ignore current markets in their valuations and stop cash equivalent transfers under a raft of emergency measures published by The Pensions Regulator (TPR) today. In a special...
Govt to pay employer AE contributions during Covid crisis
The Government will cover employer contributions into AE pensions if businesses have to furlough staff, according to a statement by the Department of Work and Pensions. The DWP confirmed firms claiming grants...
FCA allows advisers to access cash buffers
The FCA has approved cash-strapped advisers tapping into their cash buffers to ensure business continuity. An update issued today tells advisers that it will offer flexibility to firms during the coronavirus lockdown,...
Age discrimination case could leave millions needing costly advice – Webb
A consultation into how the government can compensate members for age discrimination in public sector pension schemes could leave millions needing expert financial advice, former minister Steve Webb has warned. Consulting on...
Ian McKenna: The provider/adviser tussle over cyber security
Around half of the FCA’s 2019/20 business plan is focused on technology, with a particular focus on cyber security. This must make it inevitable that we will see new regulatory requirements soon....
Moira Warner: Why independent schools are moving to DC schemes
It’s not controversial to say a key regulatory objective is to encourage consumers to shop around for financial services products. As well as driving competition, it also ensures the customer gets the...
Kate Smith: Encouraging trustee board diversity
Diversity for trustee boards has been on the Pensions Regulator’s (TPR) agenda for quite some time. There is now more focus for trustee boards to become more diverse and representative of their...
Axe MPAA to help investors hit by Covid fallout: Webb
Former pensions minister Steve Webb called for the Treasury to relax rules which could act as a barrier to people seeking to rebuild their pensions when the current Covid-19 crisis is over....
TPR unveils emergency measures – regulatory initiatives paused, payments must be made
The Pensions Regulator is suspending regulatory initiatives but says employers must continue contributing into pension schemes, as the Government puts the UK on lockdown. The regulator says DB benefits will need to...
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