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According to the DWP press release , the pensions ombudsman’s main responsibilities are to:
• investigate and determine pensions complaints • investigate and determine disputes concerning the Pension Protection Fund, and hear appeals against decisions made by the Financial Assistance Scheme manager • work with the Pensions Ombudsman Board to set the strategic direction for the organisation • build constructive and effective relationships with external and internal stakeholders, including the DWP and its ministers.
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Alex Burghart appointed as pensions minister Published: 22 September 2022 Emailed: 28 September 2022
Following Guy Opperman’s dismissal from the role of pensions minister, Alex Burghart has been appointed. Burghart is the Conservative MP for Brentwood and Ongar and has previously served as parliamentary under- secretary for the Department for Education until July 2022. His responsibilities include: • pensioner benefits, including new State Pension, Winter Fuel Payments, Pension Credit and Attendance Allowance • private and occupational pensions, including regulatory powers and the National Employment Savings Trust (NEST) • automatic enrolment into a workplace pension • oversight of arms-length bodies, including the Pensions Regulator, Pension Protection Fund, Financial Assistance Scheme and Pensions Ombudsman • financial guidance, budgeting, saving and debt, including the Money and Pensions Service and Financial Inclusion Policy Forum • methods of payment and Post Office Card Accounts • Net Zero • cross-DWP spokesperson – shadowing Lords.
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PLSA proposes five steps to better pensions Published: 12 October 2022 Emailed: 12 October 2022
The Pensions and Lifetime Savings Association (PLSA) is recommending five reforms to government to assist millions of savers to achieve a higher retirement income.
Research shows, despite the high success of automatic enrolment, more than 50% of savers will fail to meet retirement income goals. There is further concern for under-pensioned groups, such as those who take time out to care for others, the self-employed and gig-economy workers.
The PLSA report “Five Steps to Better Pensions: Time for a New Consensus” is now available and makes the following recommendations for reform:
1. National objectives : The creation of clear national objectives for the UK pension system – ‘adequate, affordable and fair’ – combined with regular formal monitoring of whether it is on track to achieve these goals. 2. State pension : Reform of the state pension so everyone achieves the Minimum Retirement Living Standard, to prevent pensioner poverty. 3. AE reform : Reform of AE so more people are included, such as younger people, multiple job holders and gig economy workers, and at a higher level so people on median earnings are likely to achieve the Pensions Commission’s Target Replacement Rates. These measures include saving from the first pound of earnings,
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