Pension Schemes Bill

The pension schemes bill has passed its second reading in the House of Lords, despite questions over the breadth of government powers.

Pension providers must now be proactive and prepare their data in order to be ready for the pensions dashboard, Guy Opperman has warned.

The Pensions and Lifetime Savings Association (PLSA) has welcomed the reintroduction of the pension schemes bill, after the government reaffirmed the details in the reopening of parliament this week.

The Pensions Regulator (TPR) has welcomed the government’s latest update on the details of the pension schemes bill.

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.

Schemes must be aware of the proposed rules on reporting corporate events, or they could face a £1m fine, says Anne-Marie Winton.

Most of this week's 108 Pensions Buzz respondents agreed the pension schemes bill should be reintroduced in its exisiting form.

For the pensions industry, the 12 December general election means the long-awaited pensions bill is “lost”, but probably “not forgotten”, according to a blog published by law firm Gowling.

The quality and availability of data is the “weakest link” for the pensions dashboard, according to the Society of Pension Professionals (SPP).

The pension schemes bill will face yet another delay as the UK seems set to have its third general election in five years on 12 December.