Pension Schemes Bill

In the second of a five-part series of articles for PP, pensions minister Guy Opperman talks about putting trustees’ duty to manage climate risk on a statutory footing

In the first of a five-part series of articles for PP, pensions minister Guy Opperman sets out how impending legislation will improve pensions for members.

The Pension Schemes Bill has completed its third reading, crossing its latest hurdle in the House of Commons.

An amendment to the Pensions Schemes Bill which would have seen people given a pre-booked Pension Wise appointment ahead of accessing their retirement savings has been defeated.

Questions remain unanswered around defined benefit (DB) scheme funding, according to analysis by Lane Clark & Peacock (LCP).

Work and Pensions Committee chairman Stephen Timms has submitted an amendment to the Pension Schemes Bill aiming to increase the use of pension guidance.

The sponsoring employers of the UK’s largest pension schemes may have to put an additional £40-£45bn into their schemes over the next decade, Lane Clark & Peacock (LCP) warns.

The Pensions and Lifetime Savings Association (PLSA) has called for amendments to the Pension Schemes Bill to ensure new regulatory powers do not unintentionally prevent schemes from taking action in members’ interests.

This week’s top stories included a warning from Lincoln Pensions on the “triple whammy” faced by sponsor covenants, while MPs called for further input on the Pension Schemes Bill.

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.