Regulation Archives - Page 23 of 64 - Pension Policy International

31JanJanuary 31, 2023

UK. Government explores CDC decumulation schemes

The government published a consultation on introducing a route to CDC for multi-employer schemes and master trusts on January 30, after legislation creating these schemes was introduced in 2022. Under these arrangements, employers and employees pay a fixed rate of contributions, collected in a manner similar to DC schemes. Benefits are paid with a target in mind, similar to defined benefit schemes, but with the prospect of variable increases — and the possibility of decreases. However, besides interest in whole-life CDC schemes...

January 31, 2023

NewsCDC, Regulation, UK

27JanJanuary 27, 2023

US. Commissioner Peirce calls for SEC rule on cryptocurrency

Commission the authority to regulate the trading of digital commodities. If the SEC did pursue rule-making for digital assets, Ms. Peirce noted, "we would have to admit that we likely need more, or at least more clearly delineated, statutory authority to regulate certain crypto tokens and to require crypto trading platforms to register with us. And Congress might decide to give that authority to someone else." However, she argued that the SEC could "do the job well," specifically when it comes...

January 27, 2023

NewsInvestement, Regulation, US

26JanJanuary 26, 2023

Should Labor Abandon Its Capital? A Reply to Critics

By: David H. Webber Several recent works have sharply criticized public pension funds and labor union funds (“labor’s capital”). These critiques come from both the left and right. Leftists criticize labor’s capital for undermining worker interests by funding financialization and the growth of Wall Street. Laissez-faire conservatives argue that pension underfunding threatens taxpayers. The left calls for pensions to be replaced by a larger social security system. The libertarian right calls for them to be smashed and scattered into individually-managed...

January 26, 2023

Articles, Labor Market, Pension Management2023, Defined Benefit, Public Pensions, Regulation, US

26JanJanuary 26, 2023

U.K. Sustainability rules could set ‘a high bar,’ but cloud definitions

Although upcoming rules on sustainable investment product labeling and disclosure could put the U.K. ahead of Europein combating greenwashing, they may not makes things clearer for institutional investors, based on reactions submitted to the Financial Conduct Authority. On Wednesday, the last day for commenting on the FCA's Sustainability Disclosure Requirements and investment labels proposed in October, financial groups and experts generally praised the regulator's approach as setting a high bar for the labeling of funds marketed as green and disclosure...

January 26, 2023

NewsInvestment, Regulation, Sustainability, UK

24JanJanuary 24, 2023

UK. The role of the Regulator in monitoring and enforcing pensions dashboards compliance

The Pensions Regulator ("TPR") is responsible for ensuring that all in scope occupational pension schemes comply with their duties under the Pensions Dashboards Regulations 2022 (the "Regulations"). The Regulations introduce new legal duties for trustees and scheme managers – discussed in more detail in our previous blog – and give TPR the power to monitor their compliance and take enforcement action if necessary. With the connection deadlines for some of the UK's largest pension schemes edging ever closer, TPR...

January 24, 2023

NewsRegulation, Technology, UK

24JanJanuary 24, 2023

U.K. pension plan sponsors might need to contribute $42 billion more – analysis

New funding rules for U.K. defined benefit plans being developed by The Pensions Regulator could potentially mean plan sponsors will need to make up to £34 billion ($42 billion) in additional contributions, according to an analysis published Monday by investment consultant Lane Clark & Peacock. The forthcoming funding rules call for pension funds to be funded on a "low dependency" basis once they are "significantly mature," without further specifics. It also calls on trustees to expect sponsors to pay down...

January 24, 2023

NewsFunding, Regulation, UK

18JanJanuary 18, 2023

Key Actuarial Changes for Public Pension Plans in 2023

Funding valuation reports for public pension plans will have to include additional information following several actuarial changes approved by the Actuarial Standard Board, part of the American Academy of Actuaries, in the finalized Actuarial Standards of Practice No. 4., Measuring Pension Obligations and Determining Pension Plan Costs or Contributions. “In some cases, these are things that some [public pension plan] reports already include. So for any given public pension plan, they may see all of these as changes or some...

January 18, 2023

NewsPublic Pensions, Regulation, US

17JanJanuary 17, 2023

Bank of England says shake-up of insurance rules increases risks

The Bank of England on Monday warned that a much-heralded overhaul to insurance rules “increases risk” and could result in a corporate failure that ultimately hits the public purse. The BoE’s top officials also sounded alarm bells about other aspects of the government’s sweeping plan to turbocharge the City of London’s growth, warning that some of the changes could jeopardise financial stability. The comments from BoE governor Andrew Bailey, and Sam Woods, head of its Prudential Regulation Authority, came a month...

January 17, 2023

NewsRegulation, UK

16JanJanuary 16, 2023

US. Retirement legislation to cool off after SECURE 2.0

The retirement industry received some welcome news late last year when lawmakers passed another major bipartisan retirement security package, but industry sources aren't expecting 2023 to yield many more legislative victories when it comes to retirement issues. "Everything that they could find where there was bipartisan agreement made it into this bill," said Michael P. Kreps, Washington-based principal and co-chairman of the retirement services practice at Groom Law Group, about SECURE 2.0, a retirement security bill attached to a $1.7...

January 16, 2023

NewsRegulation, US

03JanJanuary 3, 2023

UK. Industry criticises 2022 as an adverse year for pensions

Results from our last Pensions Buzz survey of 2022 revealed 54% of respondents felt the last 12 months have not been positive for the industry, against 36% who disagreed and 14% who voted don't know. Of the respondents who said 2022 had not been a positive year, several pointed to the liability-driven investment (LDI) crisis as a result of September's Mini Budget. One respondent said: "The LDI crisis was very damaging. Stock market has been volatile, pension valises have fallen and...

January 3, 2023

NewsInvestment, Pension Management, Regulation, UK

January 2023