Category Archives: DWP

“Shape up or shape out” – DWP give small DC schemes one year’s notice

   It is not acceptable for savers to be enrolled in arrangements that do not deliver value in terms of costs, investment returns or secure and resilient governance. Government would expect trustees acting in the best interests of their members … Continue reading

Posted in advice gap, age wage, DWP, pensions, Pensions Regulator | Tagged , , , , , , | 1 Comment

Why your pension records – like your medicals – should be yours by right

This blog sets out for the first time a fundamental right of the retirement saver, a right to see their pension record in a digitally readable format. Continue reading

Posted in accountants, advice gap, age wage, DWP, pensions | Tagged , , , | Leave a comment

Changing the way our pensions work

I expect that those few remaining trustees and members of IGCs and GAAs who are in denial of the value of ESG, will – in the face of the forthcoming Act and the detail within the consultation, step down. Continue reading

Posted in age wage, DWP, ESG, pensions | Tagged , , , , , , | 9 Comments

Lords say “no” to the “dumping” of open DB pension schemes!

This blog pays  tribute to someone of whom I knew nothing but a couple of weeks ago but who has made an extraordinary contribution to UK pensions by means of what should be  known as the Bowles Amendment. The Bowles … Continue reading

Posted in Bankers, CDC, dc pensions, de-risking, DWP, pensions | Tagged , , , , | 1 Comment

The impact of banning contingent charging for pension transfers

The end of an era After over three years of mounting pressure, the FCA yesterday announced it would be banning the practice of contingent charging for work on Defined Benefit transfers from October 1st. Although some pipeline cases will conclude … Continue reading

Posted in advice gap, BSPS, Change, DWP, FCA, pensions | Leave a comment

“The way we were” – DWP AE Evaluation

In normal times, the publication of a major Government review of auto-enrolment would be newsworthy. Apart from a series of mentions by Jo Cumbo, I have seen no publicity for it – from the DWP or their press office or … Continue reading

Posted in age wage, DWP, pensions, Pensions Regulator, Retirement | Tagged , , , , , | Leave a comment

All plans off for DB funding proposals

I’m sorry to have missed the FT’s DB funding debate, it sounds like a lively affair! Mercer, the professional services firm, last week estimated the aggregate accounting deficit for DB schemes for the UK’s 350 largest listed companies was £52bn … Continue reading

Posted in actuaries, advice gap, Blogging, dc pensions, de-risking, defined ambition, DWP, pensions | Tagged , , , , , , , | 1 Comment

What do savers and pensioners say on climate change?

  Three events have dominated my news this week The impact of Coronavirus on people, events and financial markets The ruling against Heathrow’s third runway interventions by the DWP to ensure schemes measure and mange their carbon footprint. The arguments … Continue reading

Posted in age wage, DWP, ESG, pensions | Tagged , , , , | 6 Comments

DWP’s blooper – find, forgive and forget.

As Twitterstorms go – it wasn’t in the Dennis or Ciara category, but this video put out by the DWP has got some notable tongues wagging I wouldn’t expect much nuance in a video for Twitter, but “your funds grow … Continue reading

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Why delays in dashboard delivery hit the worst-off hardest

  This blog looks at how the information from the pensions dashboard could help those on low incomes with low savings and it focusses not on how they save, but how they spend their savings. I had hoped , following … Continue reading

Posted in advice gap, age wage, DWP, MAPS, pensions | Tagged , , , , , | 1 Comment