I read with interest the blog post by Nicola Parish, TPR’s Executive Director of Frontline Regulation, on December 8, 2021, where she warned trustees of DB schemes to be vigilant in the current economic climate. Nicola emphasised the need for strong, open relationships with employers and I think she is spot on with that comment.
It was great to attend “in person” the Association of Pension Lawyers annual conference in Brighton last week.
A speaker suggested it would be helpful if the Pensions Regulator were to provide clearer guidance on when it might use its new enforcement powers, in particular by giving more specific examples and thresholds.
I can see
The DWP has now finalised its new rules about statutory pensions transfers. The new rules place statutory obligations on trustees to examine most transfers in greater detail and give trustees significantly greater scope to say no to a member request to transfer their pension to another pension scheme. This is if they decide that certain
HM Treasury has just swept in with a change to the pension tax rules taking effect from midnight on November 3, 2021) which has closed down a little wheeze which was making some defined contribution master trusts even more attractive than usual. It’s disappointing even if it does put us back where we all originally
In recent years, many defined benefit (DB) pension scheme members have taken advantage of the ability to transfer their DB pension pots out of their schemes, to be able to access their money in different and more flexible ways. In practice, this often means a transfer to a self-invested personal pension (SIPP). However, the industry
Last week’s interim consultation response from the Pensions Regulator addressed a common concern about the “Funding and Investment” section of the draft single Code of Practice: it confirmed that it would drop its proposal for a 20% cap on unregulated investments.
This is a point that we are aware had been troubling some larger pension
One thing that jumps out at you the more you read the Pensions Regulator’s draft single Code of Practice is that trustees are expected to have a LOT of policies.
We can see the logic: to have an effective system of governance, proper processes need to be in place and trustees will need to think
The Pensions Regulator has had a busy lockdown. While some details of its new enforcement powers under the Pension Schemes Act 2021 remain to be finalised, the need to consider the implications of those changes when conducting a wide spectrum of corporate transactions is clear.
Merger and acquisition dealmakers, board members and others should be
We’re pleased to report what looks like some good news for pension schemes on data protection.
The European Commission has published a draft decision as to the “adequacy” of the UK’s data protection laws. If the draft decision is formally approved by EU Member States, this would allow personal data to flow from the EU
At 11pm on December 31, 2020, the Brexit implementation period ended and the last-minute trade deal agreed by UK and EU negotiators took effect through the EU-UK Trade and Cooperation Agreement (TCA). What does this mean for UK pensions and what steps should employers and trustees be taking?
What is the impact on UK pensions