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DWP urged to overhaul pension transfer rules in bid to clarify amber flag rationale

A majority of pension transfers which raised an amber warning flag were as a result of an unknown reason or for transfers pertaining to overseas investments, according to data released by the Money and Pensions Service (Maps).

Jon-greer , Department-for-work , Pensions-regulator , Money-and-pensions-service , Aps , Wp , Uilter , On-greer , Ension-transfers ,

Limitations on commercial innovation in dashboards a good thing for consumers

Last year, Charles Randell, the chair of the Financial Conduct Authority (FCA) remarked that, with hindsight, more could have been done to protect consumers from the risks introduced by freedom and choice.

United-kingdom , Pensions-service , Money-and-pensions-service , Ca , Wp , Pr , Inancial-conduct-authority , He-pension-regulator , Epartment-for-work-amp-pensions , Im-gosling , Eoples-partnership

People Moves: Week ending Friday 4 November 2022

This week’s appointments included hires at Barnett Waddingham, Broadstone and Hymans Robertson

United-kingdom , Hector-sants , Jon-pocock , Martin-richmond , Bernie-hickman , Dean-butler , Barnett-waddingham , Andrew-vaughan , Colin-williams , Hymans-robertson , Steve-hughes , James-mullins

PDP selects Aviva, Bud and Moneyhub for alpha testing

The Pensions Dashboards Programme (PDP) has announced three commercial dashboard providers to work with it during the initial testing phase.

Raman-dhaliwal , Pensions-service-maps , Pensions-service , Money-and-pensions-service , Dp , Viva , Ud , Oneyhub , Aman-dhaliwal , Ensions-dashboard-programme , Ensions-dashboard , Aps

Support for PDP dashboard staging recommendations

The pensions industry is mostly supportive of the recommended scope for staging of the pensions dashboards, according to the Pensions Dashboards Programme (PDP).

Pensions-service-maps , Pensions-service , Financial-conduct-authority-regulated , Pensions-regulator , Money-and-pensions-service , Dp , Ensions-dashboard , Ensions-dashboards-programme ,

DWP confirms general levy hike from April; Option one chosen

DWP confirms general levy hike from April; Option one chosen
Smith: It is only fair that DB schemes pay the most as this is where most of the regulator’s energy is focused
The Occupational and Personal Pension Schemes (General Levy) Regulations Review 2020, the DWP said option one was preferred as it would "better reflect the differing levels of attention devoted by the supervisory regime as against scheme type".
At the same time, it said this option would preserve "the collective approach that underpins the current levy system", together with the inherent simplicity and operability of a levy system based on the number of members in each scheme.

Darren-philp , Kate-smith , Linkedin , Pensions-service , Facebook , Personal-pension-schemes , General-levy , Regulations-review , Pensions-regulator , Pensions-ombudsman , Pension-schemes-act , Department-for-work-and-pensions