October 2021
08Oct

Trans women granted backdated state pension in UK

The Department for Work and Pensions (DWS) has recognised that transgender women in the UK are eligible for backdated state pension. This follows a court ruling which states that a trans person who has had gender reassignment surgery and lived in their acquired gender for a “significant period” must be recognised in their acquired gender for state pension purposes. But the move will only apply to a small number of trans women. The DWP said that only those born between 31 October...

October 8, 2021
News, Slider, ,
Read more...
07Oct

Ros Altmann: Could pensions be used to boost more sustainable investing?

As we rebuild the economy after Covid-19 and pursue the government’s aims to ‘Level up’ and ‘Build back better’, the greening of finance has become increasingly important. With the impacts of climate change ever more apparent, politicians seek to appeal to the ‘green vote’. The legislative measures to boost the battle against climate change include: mandating the UK’s main financial regulators to factor in climate-related issues; statutory requirements for pension schemes to address the international Taskforce on Climate-related Financial Disclosures...

October 7, 2021
News, Slider, , , , ,
Read more...
06Oct

Uk. Employers Be Aware – Big Changes To The Defined Benefit Pensions Landscape Come Into Force

Employers be aware – big changes to the defined benefit pensions landscape come into force Some of the biggest changes to the defined benefit pensions landscape in recent years come into force on 1 October 2021. Much has already been made of the provisions of the Pension Schemes Act 2021. Here is a rundown of what comes into force on 1 October (note that these provisions do not have retrospective effect): Getting money into schemes – the Pensions Regulator gains...

October 6, 2021
News, Slider, , , ,
Read more...
04Oct

UK’s ABI urges tax reform

The Association of British Insurers (ABI) has detailed a five-point plan in a new budget submission setting out how the insurance industry can work constructively with the UK government. It says freezing the rate of Insurance Premium Tax, maintaining adequate investment in flood defence infrastructure and simplifying pensions tax relief to encourage greater savings would lay good foundations for the UK’s recovery from COVID, and enable the insurance sector to play its fullest part in support. ABI Director General Huw Evans says...

October 4, 2021
News, Slider, ,
Read more...
01Oct

Uber to Begin Rolling Out Pensions to 70,000 UK Drivers

More than seven months after the United Kingdom’s Supreme Court ruled that Uber drivers are not self-employed and thus are entitled to a retirement savings plan, the ride-sharing firm said it will begin offering pensions to its 70,000 drivers working in the country. The move will cost the ride-sharing firm millions of pounds in missed pension payments that stretch back as far as 2107. The company had previously deemed its drivers independent self-employed contractors, part of an ongoing struggle in...

October 1, 2021
News, Slider, , ,
Read more...

September 2021
30Sep

UK. Pensions department faces ‘serious questions’ over non-payments

By Kevin Peachey A saga over unpaid state pensions means the Department for Work and Pensions (DWP) should face "serious questions" about its work, a leading MP has said. Thousands of people reaching the state pension age of 66 have applied for their state pension, but have not received any money. The backlog has been blamed on pandemic workload and staffing issues. Stephen Timms, who chairs the Work and Pensions select committee, said the issue would be raised with ministers. "There are clearly serious...

September 30, 2021
News, OP Ed, Slider, , , ,
Read more...
29Sep

UK. How to give pension advice to same-sex couples in divorce

It is not uncommon for pension rights to represent a significant proportion of the matrimonial assets. Therefore, dealing with these rights in a way that ensures that both parties’ interests are best served may lead to some difficult and acrimonious discussions. The circumstances of each party may be such that finding a solution that suits both is elusive. Advisers are likely to be approached by the legal representatives of one party with a view to reaching an optimal solution for that party. In...

September 29, 2021
News, Slider, , ,
Read more...
27Sep

UK. The trillions in our pension pots could be key to tackling the climate crisis

By Richard Curtis Someone said something really striking to me the other day – that weather used to be the last thing on the news, but now it’s the first. And it’s not good news. Fire, floods, drought – climate change in terrible and obvious action. It made me think of something I’ve been increasingly obsessed by – unexpectedly – which is pensions. Pensions used to be the last thing on our minds, certainly not something to talk about at...

September 27, 2021
News, OP Ed, Slider, , ,
Read more...
24Sep

Uber to pay pensions to all its UK drivers, backdated to 2017

Uber is to pay out millions of pounds in missed pension payments to UK drivers dating back as far as 2017 under a deal with the retirement savings watchdog. The ride hailing company was forced to guarantee its 70,000 UK drivers a minimum hourly wage, holiday pay and pensions in March this year after a landmark supreme court ruling over their employment status. Couriers for the group’s UberEats food delivery service are not included in the deal. On Friday, Uber said...

September 24, 2021
News, Slider, , ,
Read more...
23Sep

UK. DWP underpaid state pensions to the tune of £1bn

The Department for Work and Pensions (DWP) underpaid 134,000 pensioners in state pension to the tune of £1bn, according to new figures from the National Audit Office (NAO) “Repeated human errors over many years” was cited as the reason for the underpayment. Read also UK. Guy Opperman reappointed as pensions minister The NAO said some level of error in the processing of state pension claims was almost inevitable given “the complex rules and high degree of manual review necessary” when assessing them. Read...

September 23, 2021
News, Slider, ,
Read more...