Enhanced criminal and civil sanctions for defined benefit (DB) scheme negligence have become law after the Pension Schemes Act 2021 gained its place on the statute book.
In the last of a five-part series of articles for PP, pensions minister Guy Opperman explains how pension dashboards will help consolidate pensions.
Schemes and their administrators have rightly received much praise for ensuring that pensions have continued to be paid in full and on time during an unprecedented period of disruption.
The pensions industry is being given a fresh chance to feed into the Pension Schemes Bill as the Public Bill Committee launches a call for written evidence.
While the dashboard timeline needs to be flexible enough to help the least well-prepared schemes get ready, Nigel Peaple says schemes are being constructive and solution-focused.
The government’s focus on pensions dashboards and pension transfer times will require the industry to improve its data accuracy and administrative efficiency, says Anthony Rafferty.
Getting data ready and providing estimated retirement incomes may be difficult, but the industry must do its best to make dashboards a reality, says Nigel Peaple
The Pensions Dashboards Programme (PDP) has launched a formal call for input, seeking industry views on data standards for the initial dashboards.
The Money and Pensions Service (Maps) has started a six-week period of informal market engagement with potential suppliers of the digital architecture for the pensions dashboards.
The dashboard is reliant on all schemes having data readily available, but this is not yet the case for many DB schemes. Paul McGlone says this is a challenge the industry must work to overcome
Pensions and financial inclusion minister Guy Opperman has warned schemes who do not have their data organised to the standard required for the pensions dashboard will face “draconian penalties.”
The pension schemes bill has passed its second reading in the House of Lords, despite questions over the breadth of government powers.
Lessons must be learned from open banking in order to make the pensions dashboard a success for the modern saver, says Darren Philp.
The pension schemes bill is set to boost income and protection for pension scheme members, says Guy Opperman, making 2020 a pivotal year for retirement savings.
The Department for Work and Pensions (DWP) has proposed increasing the general levy on occupational and personal pension schemes from 1 April 2020.
The pensions schemes bill will digitalise pensions and provide savers with greater confidence for retirement, Guy Opperman has said.
With schemes facing more administration tasks than ever, it is important the industry attracts new talent to help with potential capacity problems, says Kim Gubler.
The dashboard must be simple and based on consumer needs to be successful, Denmark and Sweden have found. Margie Lindsay looks at the lessons from the two projects.
The Money and Pensions Service (MAPS) has made ten appointments across the pensions and wider financial sector to work on the practicalities of establishing pensions dashboards.
Boris Johnson's government will deliver its first Queen's Speech on 14 October, the prime minister has announced.
The Money and Pensions Service (MAPS) has appointed Chris Curry as principal of the Pensions Dashboard Industry Delivery Group.
The DWP has published its response to its consultation on the pension dashboards - asking the industry for support in the delivery. Holly Roach looks at what schemes need to do now to prepare.
Darren Philp says while the DWP's response to the pension dashboard consultation is a step forward, there is still much to do to ensure success of the project