The DWP, Pensions Regulator and the Pension Protection Fund have published a memorandum setting out the specific role of each body and how they will work together to improve pension security.The document separates responsibilities based on the four principles of clear accoun-tability, transparency, no duplication of workload and regular and appropriate inform- ation exchange. It says while the DWP has no responsibility for the operational activities of the Pensions Regulator or the PPF, it does have a role in the stewardship of the two bodies. This stewardship will involve scrutiny and approval of ann-ual business plans, receiving reports on performance and outcome measurement, receiving financial reports and exch-anging information and analysis of trends and risks. Pensions Minister Stephen Timms says: “It allows the public to see that the Pensions Regulator and the PPF are work-ing together.”
F&C, Baring and Abbey all say funds which feature in Chelsea Financial Services’ relegation zone of poor performers will improve now that manager changes have been made. F&C’s North American fund has lost 30.8 per cent over three years and features in the North American equity relegation zone. F&C head of communications Jason Hollands says […]
As I write this, Tiger Woods has just carded a six under par total of 66 on the first day of the British Open at St Andrews and it made me think what he would have scored had he only been able to use his pitching wedge and putter rather than every club in his […]
Endowment mortgage claims management companies are to be regulated in the upcoming Compensation Bill although it is unclear which body will take responsibility. The Department for Constitutional Affairs says it has made provision to legislate later this year in a Bill intended to tackle the compensation culture but it will not speculate as to whether […]
Pink and Derbyshire are launching a non-conforming mortgage range, signalling a move by the society to diversify into niche areas. The range features loans from near prime through to heavy adverse and will be distributed and packaged exclusively by Pink. This is a significant move for Derbyshire, which has so far concentrated on sub-prime by […]
Interview with Simply Class’ first adviser, Elliot Silk.
- Top trends
- Top trends
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- Martin Lewis wins claim against PPI chaser that used his image
- Scottish Widows mulls Standard Life corporate pensions book takeover
- The future of Cofunds: What next for a platform titan?
- How much are advisers charging for pension transfers?
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Two Fidelity fund managers are facing accusations of sexual harassment and have left the asset manager in the past month, according to reports. Sources have told the Financial Times and the Wall Street Journal that complaints about sexual comments and behaviour led to two long-serving members of Fidelity’s $1.3trn equity division being pushed out. An […]
Advisers will soon have to tell the FCA how many esoteric investments they have recommended as part of their regulatory returns. The move comes as the FCA continues its review of Financial Services Compensation Scheme funding, and would allow the regulator to introduce risk-based levies if it chose to. FCA analysis shows that around a […]