Consultation responses - The Pensions Management Institute

The PMI is currently undergoing website updates, please be aware that you may encounter brief periods of downtime during this time.

13 October 2020

PMI's response to HM Treasury 'Pensions tax relief administration: call for evidence'

Traditionally occupational schemes have used net pay, whereas group schemes have used relief at source. There are some exceptions to this, most notably NEST using Relief at Source. This is in part historical, but was also driven by the tax rules in place at the time.
Multi-employer schemes and providers will offer what their customers demand, balancing out various areas of the proposition including charges, investments, governance, and communications.

13 October 2020

PMI's response to Department for Work and Pensions 'Taking action on climate risk: improving governance and reporting by occupational pension schemes'

We support this consultation and what the Government is trying to achieve. Climate change is an existential issue, and pension funds, as significant institutional investors have a role to play, along with others, in protecting the planet for future generations.

14 September 2020

PMI's response to the Work and Pension Committee’s Call for Evidence 'Impact of pension freedoms and protecting pension savers'

What is the prevalence of pension scams? Information regarding pension scams is not readily available, so, from a macroperspective, it is difficult for providers and industry bodies to comment on the true extentof pension scams. There is no doubt that pension scams are an issue, but it is difficult toget a true picture of the types and magnitude of scams taking place, and the PMI wouldbe supportive of efforts to improve industry-wide dataon the prevalence of scams.

01 September 2020

PMI's response to Pensions Dashboard Programme 'Call for Input on the Working Papers on data standards'

The Pensions Dashboard Programme (PDP) has launched a call for input on the information that pension schemes will need to supply to pensions dashboards. In preparing our response to this Call for Evidence, PMI conducted a membership survey. This ran for two weeks and received 125 responses.

01 September 2020

PMI's response to The Pensions Regulator 'Defined benefit funding code of practice'

Following detailed consultation with relevant stakeholders, in its white paper'ProtectingDefined Benefit Pension Schemes', the government concluded that'the system is currently working well for the majority of Defined Benefit schemes, trustees and sponsoring employers'.Further, the government set out its intentions in relation to its approach for the future of the system:'…we are clarifying the rules and expectations…but not otherwise making fundamental changes to the existing system.'

20 August 2020

The PMI's response to DWP's 'Review of the Default Fund Charge Cap and Standardised Cost Disclosure'

This call for evidence explored the effectiveness of costs, charges and transparency measures in protecting pension member outcomes. The call for evidence period began on 25 June 2020 and ran until 20 August 2020.