Four trustees of a master trust, who failed to promptly invest members’ savings for three years, affecting 9,081 members and contributions of £1.4 million, have been fined by The Pensions Regulator (TPR).
A document, released under freedom of information laws, has shown The Pensions Regulator has called on pension schemes to cut transfer values.
The launch of a new FCA and TPR campaign to boost awareness of pensions scams has been welcomed by the profession.
The Pension Regulator’s (TPR) Determinations Panel has recruited five members, as it prepares to rule on master trust authorisation applications.
Bosses who have jeopardised defined benefit pension schemes could be fined retrospectively, Secretary of State Esther McVey has announced.
The Department for Work and Pensions has re-appointed Mark Boyle for a second three year term as non-executive chair of The Pensions Regulator.
The Association of Member-Directed Pension Schemes (AMPS) has rejected a call to outlaw SSAS schemes to cut down on pension scams and says it is “stunned” the idea has been proposed.
A pension transfers ‘roadmap’ is to be produced to help people navigate through the process.
Many of the nearly two million small employers approaching their pensions auto-enrolment staging dates are in danger of missing deadlines by underestimating the amount of data needed to complete the process, an advice firm has warned.
The Pensions Regulator has pledged to ensure that the one million-plus small and micro businesses preparing for automatic enrolment get it right.
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