pensions

Employers might not find out how much they will be paying for the Pension Protection Fund until five days before the scheme will come into effect, warns Steve Bee.

The cost to employers has so far been the main caveate applied to views on the Pensions Protection Fund, but a closer inspection of the powers of the new pensions regulator, taking over after OPRA, reveals there may be other issues to consider.

PENSIONS EXPERTS, consumer watchdogs and business organisations have all aired concerns about the Pensions Bill, which was finally released by the Department for Work and Pensions yesterday.

Initial analysis of the Pensions Bill suggests the Department of Work and Pensions "forgot" to compare notes with the Inland Revenue as its latest proposal includes a rule, which will be abolished under simplification proposals being introduced next year....

Government proposals to charge employers a risk-based fee when introducing the Pension Protection Fund could open loopholes for weaker companies who want to avoid the extra levy, according to industry experts.

Employers with high-risk schemes will have to pay a higher levy if they want to reap the benefits of the proposed Pension Protection Fund (PPF), but not until the second year the legislation is in effect, says Andrew Smith MP, Secretary of State for work...

The new Bill introduced by the Department for Work and Pensions today has several flaws which undermine commitments to simplicity and security into long-term savings, the Conservative Party says in a statement just released.

Publication of the Pensions Bill this week is designed to be another step by the government towards giving consumers what they want in terms of financial protection at retirement.

THE FT claims it has seen a draft of the Pensions Bill - due out today - which indicates the government is going to run with a flat rate levy rather than a risk-based premium scale to fund the new pensions protection fund.

Retrospective changes to preservation requirements for deferred pension rights could decide whether IFAs face a tough year advising the majority of their clients on which transitional protection to apply, warns Steve Bee.