British Steel Pension Scheme

Trustees lack expertise, time and resources to develop effective communications on technical pensions issues and need professional help, a major review of the British Steel saga has concluded.

Some 100,000 defined benefit (DB) transfers took place in the 2017/18 financial year, according to estimates by The Pensions Regulator (TPR).

The Pensions Regulator (TPR) has taken the right approach by naming and shaming schemes that fail to meet their obligations under auto-enrolment (AE), according to this week's Pensions Buzz survey.

In this week's Pensions Buzz, we want to know if The Pensions Regulator (TPR) is taking the right approach by naming and shaming schemes which breach their auto-enrolment (AE) duties.

This week's top stories included The Pensions Regulator naming schemes and trustees for chair's statements failures, and coverage of the final day of the Box Clever case in the Upper Tribunal.

The Work and Pensions Select Committee has urged the FCA to ban the use of contingent charging for pension transfer advice in its latest report into the British Steel Pension Scheme (BSPS).

Ensuring British Steel workers were well-equipped to make a decision on their future pension provision was "afforded insufficient priority", and the regulator now needs to review the process, the Work and Pensions Committee (WPC) has said.

The Pensions Ombudsman is investigating a group of more than 150 complaints about transfer values from British Steel Pension Scheme (BSPS) members.

More than 25,000 steelworkers did not return their 'options forms' and as a consequence will remain in the current British Steel Pension Scheme (BSPS) for now, to move into the Pension Protection Fund (PPF) at the end of March.

A "special" evidence hearing will be held by the Work and Pensions Committee (WPC) in order to probe "questionable approaches and unsuitable advice" given to British Steel Pension Scheme (BSPS) members