- Commitment to the triple lock – the State Pension will be increased by 8.5 per cent.
- Legislation to remove the LTA – the
Lesley Harrold
UK Pensions: DB Funding Statement 2020: NRF survey gives the Pensions Regulator a thumbs-up
By Lesley Harrold on
DB Funding Statement 2020: NRF survey gives the Pensions Regulator a thumbs-up
Sophy Lelliott, a trainee in our pensions team writes: the UK Pensions Regulator published its annual funding statement later than usual on 30 April 2020. The Statement is aimed at trustees and sponsoring employers of defined benefit (DB) schemes with valuation…
UK Pensions: Regulator’s annual DB funding statement urges collaboration to meet COVID-19 challenges
By Lesley Harrold on
On April 30, 2020, the Pensions Regulator published its 2020 funding statement for defined benefit (DB) schemes with valuation dates between September 22, 2019, and September 21, 2020. However, these COVID-19 times are challenging for all businesses, and the effects of the pandemic are relevant to all DB schemes.
The statement urges…
UK Pensions: Regulator’s warning that member transfer requests during the pandemic may be a poor decision
By Lesley Harrold on
UK Pensions: Regulator’s warning that member transfer requests during the pandemic may be a poor decision
Adding to its already impressive haul of Covid-19 related publications to date, on 29 April 2020, the Pensions Regulator published further trustee guidance Communicating with members when they request a transfer or to access benefits.
Pension scheme members seeking…
UK Pensions – Covid-19: top tips for virtual trustee meetings
By Lesley Harrold on
The current situation is constantly evolving and here we look at some useful pointers for pension scheme trustees to enable the smooth running of their virtual meetings.
Do the scheme’s rules allow virtual meetings?
With face-to-face meetings being impossible, governing provisions on virtual meetings need checking. Do your scheme rules, and the articles of association…
UK Pensions: Regulator plans big shake-up for DB scheme funding: “fast track” or “bespoke” options
By Lesley Harrold on
On March 3, 2020, the Pensions Regulator published the first of its two planned consultations on a revised DB funding regime. The first focuses on an entirely new approach for valuations and sets out eight principles underlying the new framework of “fast track” or “bespoke”. This consultation closes on June 2, 2020.
The…
UK Pensions – Could ethical veganism impact on future pension fund investments?
By Lesley Harrold on
UK Pensions – Could ethical veganism impact on future pension fund investments?
January 2020
In an employment tribunal preliminary hearing on 3 January 2020, Judge Robin Postle ruled that ethical veganism satisfies the tests required for it to be a philosophical belief, with the result that it was protected under the Equality Act 2010. For…
UK Pensions – new criminal offences relating to corporate transactions under the Pension Schemes Bill 2019
By Lesley Harrold on
In its response to its June 2018 consultation on plans to improve the powers of the Pensions Regulator, the Government’s stated aim was to better protect members’ benefits in corporate deals. This was to be achieved by improving the ability of both the Regulator and scheme trustees to monitor relevant corporate transactions and other events…
UK Pensions – is the current annual allowance limit unfair and unworkable?
By Lesley Harrold & Lesley Browning on
UK Pensions – is the current annual allowance limit unfair and unworkable?
The Revenue has been forced, finally, to face up to the fact that the annual allowance changes in relation to pensions contributions which attract tax relief, and which were brought into force in April 2016, are unfair and unworkable. The Treasury announced on …
UK Pensions: Regulator ramps up “green” investment guidance for revised SIPs
By Lesley Harrold on
New guidance from the Pensions Regulator reflects recent legislative changes requiring trustees of occupational pension schemes to set out their policies on environmental, social and governance (ESG) issues which may influence their investment decisions.
The new law
From 1 October 2019, changes apply governing the way pension schemes prepare and revise their…