Heywood Pension Technologies’ Post

Yesterday, the Department for Work and Pensions (DWP) published guidance setting out a staged timetable for connection to the Pensions Dashboards today. The Pensions Dashboards Programme (PDP) are back on track and the countdown to connection has begun! In this update, Pensions Dashboards Lead John Dale explains the new staging profile for connecting to pensions dashboards, what schemes need to do now to start preparing and how Heywood can help. Read the update here: https://lnkd.in/gDyxwhRu

Significant change to the pensions automatic enrolment regime... extending enrolment to younger workers, and removing the lower earnings threshold for qualifying earnings, has been said to be on the horizon for some time 🌅 A government review in 2017 stated that the aim was to have change in place by the mid-2020s... So where are we now? 🤔 Click below to learn about the current state of play in under 5 minutes ⌚ #pensions #governmentreview #pensionchanges

In this we look at what the pensions industry should expect from the new Labour government along with some initial reactions from the pensions industry. We also provide our usual update of recent key pensions developments. #pensions #labour #autoenrolment

The Pensions Council's letter to Minister Humphreys recommending she reject my proposal for auto-enrolled pensions (she accepted its recommendation), cited five areas on which its assessment was based. The most obvious - amount of member’s pension - was missing from the list; however the accompanying report included a table comparing my proposal with government's "lifestyling" proposal. The table was compiled by an expert whom the Pensions Council had appointed to complete an independent evaluation of my proposal. This showed that the pension under my proposal would be 239% of that under the government's proposal (for someone joining at age 25). The table is reproduced below. Why did the Pensions Council's letter to the Minister make absolutely no reference to this evaluation, especially since it had commissioned and paid for it? I would appreciate help in answering that question from anyone who has links with the Minister (who specified the five areas) or her Department (who advised her on them).

Experts across the financial services sector have spoken of their “surprise” after details of a new Pensions Bill were included in the King’s Speech today. However, measures contained in the Bill represent “business as usual” for pensions policy, according to LCP partner and former pensions minister Steve Webb. Full story for Money Marketing below: #kingsspeech #king #pensions #pensionsbill #pension #government #labour #finance #financialservices #financialadviser

Eversheds Sutherland: Pensions dashboards update Now we’ve got the DWP’s dashboards connection guidance, it’s clear that pension schemes may need to connect to the pensions dashboards infrastructure sooner than you may have thought. Deadlines start from 30 April 2025.  This means that trustees and providers should consider this guidance now and push ahead with their dashboards planning. This speedbrief summarises recent developments and sets out some urgent points to consider.  #PensionsDashboards

Our recent Pensions insight is available. In this insight we report on the Court of Appeal decision that an amendment power proviso relating to active members’ interests covers both past and future service, the latest election news and TPR’s evolving approach to master trust supervision. #pensions #TPR

In this week's #LCPBulletin, MPs quiz ministers on DB policy issues and The Pensions Regulator asks more questions on the 2024 scheme return process for DB and hybrid schemes https://lnkd.in/eMGPcpa6

This is an excellent article by Nick Charalambous of Alpha Wealth on pensions #autoenrolment and what employers should be considering in advance of the planned rollout of this new regime in late 2024. Thanks Nick for sharing your knowledge and valuable insights on this tricky topic. RDJ LLP #employers #retirement #employmentlaw #hr

Pensions uptake in the region has significantly increased over time. The Retirement Benefits Authority estimates the assets under management in Kenya to have increased from Ksh 1,576.22 bn in December 2022 to Ksh 1,703.69bn in June 2023 which represents an increment of 8.087% for the 6 months period. However, there still exists a big knowledge gap on the methods of pensions payout and alternatives that individuals can use. This article will look at the two main methods of pensions payment and review the legislative frameworks... https://lnkd.in/dYQiE8j3 #pension #retirementsavings