Podcast: Pension dashboards – data, liability and regulation

In this podcast, Tim Smith, Pensions Professional Support Consultant, is joined by Richard Smith, Pension Dashboards Consultant at the Pension & Lifetime Savings Association to discuss the industry’s hopes for pension dashboards and what schemes need to do to get ready. In particular, he: explains what dashboards are and what it is hoped they will … Read more

Pensions and Bulk Annuities – Ep1

In the latest podcast from Herbert Smith Freehills’ pension team, Rachel Pinto, Partner, is joined by Rosie Fantom, Partner at Barnett Waddingham and Matt Richards, Senior Business Development Manager at Standard Life. They discuss the reasons why some schemes may choose to do a series of bulk annuity transactions, rather than a single transaction covering … Read more

Queen’s Speech 2022: No Pensions Bill but some notable pensions-related reforms

As expected, there was no new Pensions Bill announced in today’s Queen’s Speech, ending speculation about the prospects of auto-enrolment being extended any time soon. Despite this, a number of the Bills that have been announced are still likely to have an important impact on the pensions industry. Most notably, the Data Reform Bill will … Read more

Regulator publishes latest Annual Funding Statement

The Pensions Regulator has published its latest Annual Funding Statement. Most of the messages are consistent with those contained in last year’s statement but, as you might expect, this year’s statement emphasises the need for trustees to assess the impact on their scheme and sponsor covenant of high inflation, the prospect of higher interest rates … Read more

Pensions and ESG Ep 6 – A Smart approach to ESG

In this latest podcast from the Herbert Smith Freehills’ pension team, Mark Howard, Of Counsel, discusses the latest developments in the world of ESG with Head of Investment Proposition at Smart Pension, James Lawrence. In their conversation, Mark and James discuss: How Smart Pension is responding to investment in Russia after the invasion of Ukraine; … Read more

HMRC issues further guidance on GMP equalisation and conversion

HMRC has issued further guidance on the tax implications of implementing GMP equalisation. The guidance is helpful and pragmatic. It outlines several options for making a top-up payment to correct historic transfer values. It also helps clarify the impact of GMP conversion for annual and lifetime allowance purposes for pensioners. However, it does not resolve … Read more

DWP launches further consultation to facilitate investment in illiquid assets

For some time, the Government has been trying to encourage greater investment in illiquid assets (such as infrastructure projects) by defined contribution (DC) pension funds. As part of this, the DWP launched a consultation last November on proposals to exclude well-designed performance fees from the DC charge cap, which applies to default investment funds within … Read more

PODCAST: Getting your scheme ‘dashboard ready’

In this latest podcast from the Herbert Smith Freehills’ pension team, Tim Smith, our Pensions Professional Support Consultant, discusses the latest developments relating to the launch of pension dashboards with Professional Support Paralegal, Olivia Kettleborough. In their conversation, Tim outlines: what pension dashboards are and when they will be launching what schemes need to do … Read more

Update: New corporate pensions notifiable events delayed

Last September, the Government launched a consultation on proposals to introduce two new notifiable events to require corporate sponsors of defined benefit (DB) pension schemes in the UK to give early notice of material corporate transactions and security arrangements to their scheme’s trustees and the UK Pensions Regulator. They also planned to make changes to … Read more