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The PPF’s proposed rules for calculating the 2021/22 levy seek to strike a balance between giving sponsors time to recover from the economic impact of Covid-19, whilst recognising the increased risks the PPF faces in the years ahead. The PPF estimates that around 90% of schemes that pay a risk-based levy could expect to see … Read more
Here is a round-up of the pensions blogs and briefings that we have posted during the past month. Some of these have been broadcast but several have not, to avoid sending you too many emails. Read more
The latest edition of our quarterly Pensions Planner is here. Click on the image below to download your copy. The Planner and our handy timeline will help you keep up to date with the latest developments in pensions law and practice and identify the key pensions issues that your scheme or organisation needs to address in the … Read more
On 16 September 2020, we hosted a webinar on public law for pension professionals . The matters that pension professionals deal with will often bring them, either directly or indirectly, into the legal framework which governs the actions of public authorities. This can be anything from considering the validity of: regulatory action taken by the … Read more
The DWP has launched a new consultation, in which it is seeking views on proposals to require trustees of large occupational pension schemes, authorised master trusts and schemes offering collective money purchase benefits to have an effective system of governance, monitoring and risk management relating to climate related risks and opportunities in place from 1 … Read more
In a significant step for the pensions de-risking market, the Pensions Regulator has published guidance for DB consolidators (referred to in the guidance as “superfunds”) on the regulatory regime that will apply to them until a longer-term regulatory framework is put in place by the Government. The Regulator has also published guidance for trustees and sponsors who are considering a transfer … Read more
On 5 June, the FCA published Policy Statement 20/6 outlining its plans to improve the DB transfer market, including among other things, banning contingent charging in all but a few circumstances and introducing an abridged advice process. The Statement highlights the feedback received from consultation CP19/25, and details the FCA’s final rules and guidance. The … Read more
The Pensions Climate Risk Industry Group (PCRIG) has launched a consultation on draft guidance aimed at pension scheme trustees to help them assess, manage and report on climate risks using the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD). Although the guidance is non-statutory it has been developed in collaboration with the DWP … Read more
On 3 March 2020, in what was a much simpler time, the Regulator launched the first stage of its two-part consultation on a revised Code of Practice on funding defined benefit (DB) schemes. This sets out eight key principles that will underpin the new Code and confirms the Regulator’s plan to introduce a new twin-track … Read more
