Pensions

Tax / HMRC issues draft rules on pension cold calling ban

HMRC has launched a technical consultation on draft regulations to ban pensions cold calling to ensure the proposed arrangements are robust and effective in protecting individuals from scams

Insight / Pension company liquidated over £4m abuse

A Kent pension company has been ordered into liquidation at the High Court after an Insolvency Service investigation revealed it had abused over £4m of investors’ savings

Insight / Single financial guidance body CEO announced

The Department for Work and Pensions has appointed John Govett as the first chief executive officer of the new single financial guidance body (SFGB), which will bring together three existing money and pension advice services

Accounting / 2018 Revised Pension SORP: briefing note

A revised and refreshed version of the accounting rules for the pension sector, the Pension SORP, has been released to take into account recent amendments to FRS 102. Here the Pensions Research Accounting Group (PRAG) provides a briefing note on the significant changes

Insight / Pension directors banned from running companies for 21 years

The directors of two pension companies shut down in the public interest have received bans totalling 21 years for their role in the companies’ mismanagement of members’ funds

Accounting / Pensions SORP revised: what you need to know

The Pensions SORP  - Statement of Recommended Practice - has been updated to take account of changes to FRS 102 and various legislative amendments to pension rules. Shona Harvie, partner in the pension funds group at Crowe UK and chair of PRAG explains the key revisions effective from 2019

Insight / 30 million people at risk of poor pension planning

Potentially some 30m working age people are failing to save enough for retirement and risk not being able to afford the lifestyle they want in later life, according to research from the Pensions and Lifetime Savings Association (PLSA) which suggests more needs to be done to educate pension savers on planning for their future

Insight / Development updates: July 2018

In the latest career development updates, SIPPs pension transfers at risk, KPMG South Africa cuts 400 staff amid firm restructure, Pimlico Plumbers loses appeal over workers’ rights

Accounting / PRAG publishes updated SORP for pension accounting

The Pensions Research Accountants Group (PRAG) has revised the accounting framework for pension schemes with the publication of the Pensions SORP (Statement of Recommended Practice) 2018 to bring guidance in line with the latest version of FRS 102

Insight / FCA introduces proposals to help confused pension consumers

Pension freedoms have left some consumers confused and in danger of making bad decisions, says the Financial Conduct Authority (FCA), who has published a consultation into proposed measures to protect pension holders

Insight / Government announces defined benefit pension consultation

The government has launched a consultation into how defined benefit pension schemes can be improved and better protected

Insight / Gig economy lights fuse on pensions time bomb

Only a third of the self-employed UK workforce are paying into a pension despite the majority being deeply concerned about their ability to cope financially after retirement

Insight / Economic trends: it is time to transfer defined benefit pensions?

Nathan Long, senior pension analyst at Hargreaves Lansdown, considers the pros and cons of defined benefit transfers for pension holders

Accounting / Rules on sustainability reporting for pension scheme trustees

For the first time members are to be given powers to hold their pension schemes to account over how social and environmental factors impact their investments, with new regulations requiring trustees to produce a policy which includes an assessment of the sustainability of their investment decisions

Insight / Companies House…be part of our transformation

With a major transformation programme underway at Companies House we are keen to engage with stakeholders and users to gather feedback on our products, systems and services
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