`The Chartered Institute of Payroll Professionals
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The final policy will be expected in Spring 2023, allowing ample time for the first schemes to be familiar with the compliance processes in place.
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TPR appoints new chief executive Published: 22 December 2022 Emailed: 4 January 2023
In a press release on 21 December 2022, The Pension Regulator (TPR) has announced that Nausicaa Delfas will replace Charles Counsell as chief executive at the end of March.
Delfas is currently executive director of governance at the Financial Conduct Authority (FCA) and previously worked for the Financial Ombudsman Service. She said:
“I am delighted to be joining TPR as CEO at a time of significant change and challenge. Saving effectively for the future is essential for everyone. TPR plays a key role in protecting work-based pensions and the post-retirement income of over 30 million people. I look forward to leading this organisation in its critical work."
As the industry celebrates ten years of automatic enrolment, it will be interesting to see how Delfas approaches the emerging challenges, such as pensions dashboards and the DB Funding Code.
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TPR: new year, new campaign Published: 4 January 2023 Emailed: 4 January 2023
The Pensions Regulator (TPR) has announced a new automatic enrolment (AE) digital campaign. The campaign aims to target non-compliant employers and warns of the consequences of hiding from their legal AE duties.
The campaign's key messages are:
• TPR monitors employers, big and small, to make sure staff receive the pensions they are due • good employers don't hide from their workplace duties, and TPR will find out • don't risk being fined due to non-compliance - read TPR's guidance now.
Pensions administration can be overwhelming, however there is a core requirement for employers to provide a workplace pension scheme to all eligible employees. Remember to check for eligible employees to enrol and your duty start dates, to ensure you are compliant and prevent the risk of penalties. Further guidance can be obtained at GOV.UK and on TPR’s website .
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Pensions dashboard delay Published: 6 March 2023 Emailed: 8 March 2023
It has been announced that there has been a delay in the implementation of the pensions dashboard, which will allow individuals to view information about their pensions, including state pension, in one place online.
The Pensions Dashboards Programme (PDP) was introduced in 2015 and was originally planned to launch in 2019. It was then pushed back until 31 August 2023 and now the deadline has been extended again due to technicalities. The provision of pensions dashboards will be a Financial Conduct Authority (FCA) regulated activity. Organisations wishing to become pensions dashboard providers will have to apply for FCA authorisation and adhere to FCA conduct rules.
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