By Susanna Rust2021-03-12T12:42:00+00:00
Further pensions industry requests have been formulated of the UK government due to residual concerns about its proposals for climate risk reporting and governance requirements for occupational pension funds.
This is according to feedback to a Department for Work and Pensions (DWP) consultation on draft regulations and statutory guidance, which it developed taking into account responses to its initial proposals on the topic in August last year.
Specific requests include that the DWP work with the financial markets regulator to ensure that “relevant levels of skills and climate knowledge are part of the authorisation regime for investment consultants and managers” – a point made by the Pensions & Lifetime Savings Association (PLSA) in its response to the consultation.
ACA response to DWP climate paper urges support for trustees
Hastie: There remains a lot for trustees to take in and do
Trustees need support for what is a major extension of their role as part of the move to improve pension scheme reporting on climate change, the Association of Consulting Actuaries (ACA) says.
In its response to the Department for Work and Pensions consultation looking at proposals to require trustees to address climate change risks and opportunities - Taking action on climate risk: improving governance and reporting by occupational pension schemes - the ACA welcomed the department s response to practical issues identified in its previous paper but stressed the huge changes for trustees addressing this issue.
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
Find whitepapers
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