Wrong state pension forecasts sent to 360,000 savers after Whitehall blunder June 4, 2019 The government has admitted “significant” problems with state pension forecasts, after revealing hundreds of thousands of people have received erroneous information. Read more: Amber Rudd gives pensions dashboard project green light Three per cent of pensioners may have made financial decisions based on false information sent by the government since 2016. This amounts to about [...]
Amber Rudd gives nod for pensions dashboard project to ‘transform’ retirement planning April 4, 2019 Amber Rudd has given the green light for the long-awaited pensions dashboard project to go ahead, with the first industry models to come out later this year. Under the scheme, workers will be able to see information about their various nest eggs combined on a so-called dashboard, accessible on smartphones, tablets and computers. The plan [...]
Former minister criticises Amber Rudd’s plan to jail bosses who mismanage pension schemes February 10, 2019 A former pensions minister has criticised Amber Rudd’s plan to toughen up laws governing those in charge of employee pensions in the wake of recent mismanagement scandals at BHS and Carillion. Company bosses could be locked up for as long as seven years if they don’t manage employee pension schemes properly, according to Work and [...]
Four single mothers win legal battle with government over universal credit January 11, 2019 Four single working mothers have successfully challenged the government in the High Court over its universal credit benefits system. The women had lost hundreds of pounds in benefits each year and had seen large variations in universal credit awards because of the dates on which their payday and benefit assessment periods fell. If the mothers [...]
Government-backed financial guidance body launches, combining three previous advisory services January 3, 2019 The Money Advice Service, the Pensions Advisory Service and Pensions Wise have been pulled together to form one central financial advice service. The Single Guidance Finance Body (SFGB), funded by levies on the financial services industry and pension schemes, launched for the new year comprising the staff of the three previous bodies. Although not a government [...]
Multiple ‘dashboards’ to give savers access to pensions data, first planned for next year December 3, 2018 The government has confirmed it will introduce multiple so-called pension dashboards, with the first hoped to come into effect next year, giving savers the ability to access access their pension information for several schemes at once on their smartphone. Publishing a consultation on the measure this morning, however, the government could not confirm state pensions would be included. But pensions [...]
Bureauc-rat attack: Rodent control called out five times a day by government departments November 5, 2018 Rat-catchers have been called to government buildings an average of five times a day since 2014, City A.M. can reveal. Michael Gove’s department for Environment, Food and Rural Affairs (Defra) has spent the most money trying to get vermin under control, with Defra forking out £740,000 on pest controllers, according to figures released after a [...]
Pensions dashboard: Why it would be crazy to ditch one of the most common sense ideas to come out of government July 25, 2018 "What have you lost?” your colleague asks as you desperately retrace your steps. “My pension!” you cry. Okay, well that never happened. But imagine for a second that we were to treat our misplaced pensions in the same way we treat lost phones. In the UK, billions of pounds of pension money is currently [...]
Lloyds faces landmark legal action in the High Court over pensions equalisation July 4, 2018 Lloyds Bank could have to fork out up to £508m to equalise its pension scheme if a landmark course case finds it has discriminated against female employees. Three female members of Lloyds' pension scheme claim they have been discriminated against because their pensions increase at a lower rate than their male counterparts. The case, which [...]
A brave new banking world: How computer science shaped this company November 8, 2017 When I spot Anne Boden across the coffee shop, she beams at me. Even before she’s said a word, I immediately warm to her – here’s a woman who has spent 30 years working for the big banks, and yet she seems far removed from the stereotypical personalities you associate with the cutthroat finance [...]