Managers of Wealth Pensions

House overwhelmingly passes bipartisan retirement bill

Legislation aims to make it easier for small employers to offer 401(k) plans

The DIFC's New Defined Contribution Scheme

The new DIFC Scheme is proposed to come into force on 1 January 2020.

Pensions regulator issued fines worth £69m in 2018

A fixed penalty notice of £400 is issued to employers for failure to comply with a statutory notice or some specific employer duties.

Liz Field: What does the future hold for regulation?

The UK has contributed to and defined a great percentage of this over the past 40-odd years

N.J. Pension Change May Skip Governor, Go to Voters, Lawmaker Says

The bills, he says, would rescue one of the nation’s lowest-funded pension systems

Iain Anderson: The secret to successful pensions policymaking

It seems the delay in the Brexit timetable means we will need to wait until at least the autumn for that gold carriage to roll in to Westminster again.

DB template will bring ‘clarity’ on transfers regulators say

But the template did not materialise as quickly as planned and the roll out of the template was passed to the Pension Administration Standards Association several months ago.

Aviva unveils platform changes

The new drawdown functionality has been designed to deliver complete ‘straight through’ processing, with all aspects of the new and existing business process managed online.

Regulator unhappy with Arcadia pension proposal

A TPR spokesperson said that the regulator remains "in discussions with the company and the trustees to understand the impact of the CVA proposals on the scheme and to ensure the strongest possible outcome is achieved".

600 firms back Gold Standard for DB transfers

Many British Steel pension scheme members were persuaded to transfer to poor alternatives by predatory financial advice firms.

Hammond dismisses £6bn pension tax reform

Mr Hammond reiterated that he is in discussions with the Health secretary on how to make pensions more flexible for NHS doctors affected by the annual allowance tax charge

British Steel pensions safe amid company trouble

Despite uncertainty about their employment, BSPS II - the steelworkers' defined benefit scheme – is safe, as the new scheme doesn’t have any links with the ailing company.

Legal bid to save British Steel with disputed £30m insurance claim usurped by insolvency

British Steel had sought further damages from the insurers to compensate for their slow response and incomplete investigation of the claim.

UN expert tells govt to remedy women state pension changes

This followed his initial statement in November when he noted that women born in the 1950s had been particularly impacted by a "poorly phased in" change of the state pension age.

The Coming Pension Crisis Is So Big That It's A Problem For Everyone

The numbers are large enough to make this a problem for everyone, even those without affected pensions.

DB transfer template expected next month

The idea of a template was to reduce the amount of information requests from advisers and the time spent on facilitating the DB transfer process.

Swiss voters approve tax and pension reform

In order to cover a revenue lack of around 2 billion Swiss francs, the federal government would likely to increase its share of federal taxation.

Korea’s ruling party proposes fund-type scheme to manage employee pensions

Market experts believed they generated poor returns because most of the funds are invested very conservatively in investment vehicles that just guarantee principal and interest.

USS 'obstructed whistleblower' in quest over 2017 valuation

The scheme reported a £7.5bn actuarial deficit in the resulting valuation, causing it to propose closing the DB section to future accrual, and then move all members into a defined contribution (DC) section.

Pension purchasing power down 14% for UK expats in Europe

The firm, which supports roughly 6,000 pensioners living in Europe, said the increase is largely due to currency market volatility following the decision to leave the EU and the more recent trade war between the US and China.

Legal,Regulation & Compliance