Tag Archives: DWP

The cost of living crisis has hit many households hard and as the days continue to get colder costs will only be going one way. The Department of Work and Pensions (DWP) provides crucial support to these households to keep them afloat. Over the Christmas period many of them will …

The schemes allow savers to pool money into a single fund which pays an annual income. The first company expected to open a CDC scheme is Royal Mail, … Source link

A number of large UK pension schemes have written a joint letter to the Work and Pensions Committee (WPC) to raise concerns about the application of new stronger nudge requirements in certain circumstances. The letter raised specific concerns in relation to defined benefit (DB) schemes with defined contribution (DC) additional …

The government’s response to the fourth recommendation of the Work and Pension Committees’ (WPC)  24 design reforms laid down in January – published yesterday (27 April) – addressed the question of whether it would publish a framework for assessing the success of the Royal Mail CDC scheme and other early schemes. …

April is a month of financial change bringing with it energy price hikes, a rise to benefits delivered by both the Department for Work and Pensions (DWP) and HM Revenue and Customs (HMRC), increases to the National Living Wage, Council Tax and National Insurance Contribution deductions. But there’s a lot …

Allowing the use of age-related contributions in collective defined contribution (CDC) schemes could be a “game changer” in making CDC more appealing to a wider range of schemes and ensuring fairness for younger savers, according to LCP. Pensions Minister, Guy Opperman, yesterday (28 March) signaled his intent to hold a …

Royal Mail Group (RMG), the Communication Workers Union (CWU) and Unite the Union have confirmed plans for a new collective pension scheme following a successful consultation process, with the scheme to be launched by the end of 2022 or early 2023. The positive outcome to the consultation, which was launched …

The government has confirmed that draft legislation for single or connected employer Collective Money Purchase (CMP) schemes will come into force from 1 August 2022, subject to parliamentary approval. In the government response to its recent consultation on the draft regulations, the Department for Work and Pensions (DWP) highlighted the …

Policy watch… The Department for Work and Pensions (DWP) confirmed enhanced powers for trustees to block or pause transfers where there is potential scam activity on 8 November. The government’s “red” and “amber” flag proposals came into force yesterday (30 November). The government also closed the window of time during …

Coffey revealed the government wants “to put people in control of their pension pots” Work and pensions secretary Thérèse Coffey has reaffirmed the Department for Work and Pensions’ (DWP) pension commitments just over three weeks after taking office. Speaking at the Conservative party conference this morning (30 September), the MP …