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DWP to remove overseas investment amber flag as part of pension transfer changes


By Callum Conway

The government has launched a consultation on measures to strengthen protections against pension scams and reduce pension transfer delays, including proposals to remove the overseas investment amber flag.

The consultation, published by the Department for Work and Pensions (DWP), forms the first stage of a wider government programme to tackle pension fraud and improve the operation of pension transfer regulations


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HMRC launches consultation on GMP conversion tax changes

HM Revenue & Customs (HMRC) has launched a consultation on draft regulations designed to prevent pension scheme members from facing unexpected annual allowance tax charges as a result of guaranteed minimum pension (GMP) equalisation exercises

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Insurer competition driving ‘unprecedented’ buy-in pricing

Competition between insurers is driving ‘unprecedented’ buy-in pricing for UK defined benefit (DB) pension schemes, according to LCP

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DB funding surplus rises by £5.3bn in May

The aggregate surplus of defined benefit (DB) pension schemes in the UK increased by £5.3bn in May, reversing the reduction in surplus the previous month, the latest figures from the Pension Protection Fund (PPF) have shown

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Majority of young adults back early state pension access proposal

More than half (54 per cent) of younger adults support a proposal that would allow them to access part of their state pension early in exchange for delaying their retirement benefits, according to new research from the Social Market Foundation (SMF)

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Hampshire Pension Fund consults on investment strategy and ESG priorities

Hampshire Pension Fund has launched a consultation on its draft Investment Strategy Statement (ISS), setting out its investment priorities and responsible investment approach for the coming years

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Wealth at Work launches retirement guidance service

Wealth at Work has launched a retirement guidance service, aiming to help pension schemes and employers to support members approaching retirement

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Guided retirement likely to rely on 'partial information' about savers - PPI

Pension schemes and providers are likely to have to design guided retirement solutions using only 'partial information' about savers, according to new research from the Pensions Policy Institute (PPI)
Over four in five pension transfer amber flags not linked to high-risk investments

More than four in five (81 per cent) amber pension transfer scam alerts raised since November 2021 have been linked to either 'unknown' categories or overseas investment concerns, according to analysis from PensionBee, which has questioned whether current scam protection measures are causing unnecessary delays for savers
TPR urged to consider more ambitious and member-centred approach to Corporate Strategy

The Pensions Regulator (TPR) should adopt a more ambitious, inclusive, and member-centred approach to its Corporate Strategy, according to the Association of Member Nominated Trustees (AMNT)

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Standard Life rebrands institutional investment platform

Standard Life has rebranded its institutional investment platform from Phoenix Corporate Investment Services to Standard Life Corporate Investment Solutions (CIS)
M&G to add PruFund range to Scottish Widows Platform

M&G has agreed to make its PruFund range available on the Scottish Widows Platform, marking its first third-party platform launch


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