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Articles by Simon Tyler
UK government publishes final DB pension regulations
The recently published response to a consultation on the regulations from the Department of Work and Pensions (DWP) sets out a summary of views raised by respondents and includes the final draft of the Occupational Pension Schemes (Funding and Investment Strategy) Regulations 2024 (15 pages/ 324 KB). Following the update “trustees and employers can now start to think about what the new regulations mean for their long-term plan,” Stephen Scholefield, pensions expert at Pinsent Masons said.
Prairie Creek Community School holds second annual relay fundraiser
There are always squirrels in the woods at Prairie Creek Community School, but on Thursday, there will be a special squirrel. kAmu@C E96 D64@?5 J62C :? 2 C@H[ 5:C64E@C $:>@? %J=6C H:== 36 5C6DD65 :? 2 DBF:CC6= 4@DEF>6[ CF??:?8 E96 D49@@=’D `z 4C@DD 4@F?ECJ 4@FCD6 C6A62E65=J 7@C E96 2??F2= v:G6|} 42>A2:8?] %96 D49@@= 42==D E96 6G6?E E96 “$BF:CC6=\2\E9@?]”k^Am kAm“{2DE J62C[ x C2? 2?5 3:<65 c_z 3FE E92E H2D 7C2?<=J 6I92FDE:?8[” %J=6C 6IA=2:?65] “%9:D J62C[ E96 H9@=6 4@>>F?:EJ H:== 4@>6 E@86E96C E@ CF?
The DWP’s consultation on collective defined contribution in retirement
CDC decumulation-only arrangements (CDCDAs) are intended to share investment and mortality risk during retirement with the aim that this leads to higher pension payments. Like any CDC arrangement, savers will bear the risk of reduced payments if investments underperform. The hope is that with most of the UK population paying into master trusts during their working lives, it might be possible to create CDC pools within those trusts for retirement.
Solving the 'small pots' dilemma in UK defined contribution pensions
Deferred DC pots under £1,000, known as ‘small pots’, are a problem worth solving. The cost of administering a small pot can be excessive in comparison to the benefit for scheme members. It is easier for members to plan their retirement if they do not have a large number of separate pension arrangements to track down and deal with.
Pensions Regulator seeks improved climate scenario analysis from trustees
Reports from the Institute and Faculty of Actuaries (23 pages / 9.87MB PDF) and Carbon Tracker, an independent financial think tank focused on climate change, questioned the credibility of scenario models and analysis used by trustees. The research suggests that some outcomes may significantly underestimate the financial risks posed by climate change, contradicting established scientific findings.
How lean principles can reduce the pain of pharma project delivery
"Just get it done.” If you have been involved in a facility renovation or expansion project in any capacity, I bet these words sound familiar. Maybe you’ve said them yourself, as a project owner who’s tired of seeing a new facility’s most important features fall under the ax of a limited budget. Or maybe you have heard these words as an order from above.
Rare High Court ruling limits BBC pension scheme’s amendment powers
The BBC had sought to limit the ongoing costs of running its pension scheme by clarifying the scope of a restriction on the scheme’s amendment power that limited the changes that could be made to the interests of its active members. The BBC argued that this restriction only applied to the past service rights of the scheme’s active members.
Flower Delivery Crediton: 7 Days Free Delivery, Florist & Flowers in Crediton
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New UK regulations to promote and facilitate pensions advice
The UK Department for Work and Pensions (DWP) has announced plans to promote and facilitate access to pensions advice. The “stronger nudge to pension guidance” measures, which will come into force on 1 June 2022, will require occupational pension schemes to give customers guidance as a routine and offer to book a Pension Wise appointment for the individual, unless they wish to opt out of receiving guidance.
DWP sets out detail of notifiable event regulations for pension schemes
The UK’s Department for Work and Pensions (DWP) is consulting on proposals that will require employers to notify the Pensions Regulator (TPR) of events that could have an impact on pension schemes.
Master trusts and CDC: time for UK schemes to plan ahead
Why should master trusts be thinking about CDC benefits? The government’s policy is to open up the CDC regime to commercial master trust providers once any potential teething problems with the new regime have been ironed out. Issues could arise from confusing member communications; inappropriate actuarial assumptions; complex administration; and problems with the implementation of the modified pensions taxation regime.
UK Pensions Regulator sets out planned approach to prosecuting new criminal offences
The UK’s Pensions Regulator (TPR) plans to adopt a similar approach to prosecuting new criminal offences as it takes to seeking contribution notices, under changes introduced by the Pension Schemes Act 2021. TPR has published a draft policy and associated consultation document (12 page / 282KB PDF) outlining how it will use the new powers to investigate and prosecute those who avoid employer debts to pension schemes or put savers’ pensions at risk.
The World's Most Magnificent Machines by David Long, Simon Tyler
MENU SHOPS SEARCH Books zoom David Long (author), Simon Tyler (illustrator) £20.00 Hardback 184 Pages / Published: 05/11/2020 In stock Usually dispatched within 24 hours Quantity This item has been added to your basket Your local Waterstones may have stock of this item.
'Blow' for PPF as UK pension compensation cap ruled unlawful
"Now we have a third case, by a High Court judge, ruling once again against the PPF, by stating that the compensation cap is unlawful. These cases are good news for affected members. Since very few PPF members are affected by the cap, the costs of this case may not affect the PPF levy, payable by defined benefit pension schemes," he said.
Monitoring employer pension scheme support
The Pensions Regulator expects trustees to monitor the covenant on a regular basis. They need to consider how often to do so. Working within the employer's existing financial reporting obligations will save cost and time, but additional reporting may be required on certain events, such as a business sale. It is good practice for trustees to treat covenant review, however informal, as a standing trustee agenda item.
Your Attitude: Shifting cultures and driving performance
Why attitude is the significant factor in shifting cultures and ultimately driving performance.Organisational culture is inextricably linked to overall performance. The sustained positive results and benefits of short-term wins; new initiatives; business gains; mergers and acquisitions are in the hands of the current and ensuing culture that grasps the change.
Phasing Out Inefficiency
Manufacture Contract Manufacturing Services Struggling with process research and development? Find yourself a CRO that knows what it’s doing. Simon Tyler | 02/21/2019 | Opinion Drug developers are all too familiar with the numerous challenges faced at each phase of the clinical trial process.
Increasing defined benefit pensions: how should trustees and employers proceed?
Many schemes still use the Retail Prices Index (RPI) to increase deferred pensions and pensions in payment. However, RPI is no longer recognised as a national statistic, and the National Statistician, John Pullinger, "strongly discourage[s]" its use since there are "far superior alternatives". Employers and trustees are struggling to know what to do. The position under scheme rules can be confusing.
MPs to look into likely effect of lifetime ISAs on auto-enrolment regime
From April 2017, adults under 40 will be able to save up to £4,000 each year towards the purchase of their first home or for their retirement into a lifetime ISA, and will receive a 25% bonus from the government when the money is withdrawn for one of these purposes.
Time to consider increasing minimum UK workplace pension contributions, says expert
Simon Tyler of Pinsent Masons, the law firm behind Out-Law.com, was commenting on new figures from the Office for National Statistics (ONS) showing that average contributions have fallen year on year since the introduction of automatic enrolment in 2012. Private sector employees aged between 22 and 29, many of whom have never paid into a pension before, are now paying an average of 1% of their salary towards a pension compared to 3% in 2013, according to the figures.
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