On 18 March 2025, the draft Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025 (the draft Regulations) were published on legislation.gov.uk, along with a draft explanatory memorandum.
The draft Regulations relate to the temporary exemption which pension scheme arrangements (i.e. pension funds) currently have from the clearing obligation, which requires them to clear
On 13 March 2025, the Pensions Dashboard Programme (PDP) published an updated set of standards.
Background
The PDP, as part of the Money and Pensions Service, has powers under the Pension Schemes Act 2021 and the Pensions Dashboards Regulations 2022 to set standards relating to the practical operation of pensions dashboards services
On 28 February 2025, the House of Commons (HoC) Work and Pensions Committee announced that it would hold an evidence session to examine progress towards delivering online pensions dashboards, which are intended to enable individuals to find information on all of their pension pots and their value in one place.
While it is
On 11 February 2025, the Financial Conduct Authority (FCA) published a new webpage, ‘Pension dashboards: how to register with the Money and Pension Service’ (MaPS). The webpage sets out what pension providers need to do in order to register their connection with the pensions dashboard ecosystem provided by MaPS.
On 30 January 2025, the Financial Conduct Authority (FCA) published Evaluation Paper 25/1 (EP25/1), in which it shares the results and lessons learned from its ban on contingent charging and other remedies in the defined benefit (DB) transfer advice market in 2020.
Background
Through its investigation in consultation paper
On 12 December 2024, the Financial Conduct Authority (FCA) published a consultation paper, CP24/27, on the Advice Guidance Boundary Review – proposed targeted support reforms for pensions.
In CP24/27, the FCA sets out its high-level proposals for targeted support in pensions, as part of the Advice Guidance Boundary Review (AGBR)
On 14 November 2024, HM Treasury issued a consultation setting out proposals to legislate for a minimum size and maximum number of Defined Contribution (DC) pension scheme default funds.
Policy
The Government believes that the future of the workplace DC market lies in fewer, bigger, better run schemes, with the scale and capability
On 7 November 2024, the Financial Conduct Authority (FCA) published a policy statement, PS24/15, setting out the regulatory framework for firms that operate pensions dashboard services.
Key takeaways
The FCA has published its final rules and guidance for firms operating a pensions dashboard service (or ‘PDS’) in the future. Presently
On 4 September 2024, theFinancialRegulators Complaints Commissioner published an update on complaints relating to the British Steel Pension Scheme (BSPS).
In the update, the Commissioner notes that during August 2024, it received further documents from the Financial Conduct Authority (FCA) to support its review of the FCA’s investigation files on the
