Pension Disputes Bulletin – Winter 2022

Here is the latest edition of our regular Pension Disputes Bulletin which contains summaries of key cases, Ombudsman decisions and regulatory activity and highlights emerging risks for pension schemes, providers, sponsors, administrators, and other service providers. In this edition, we cover the implications of: a recent judgment on the operation of a scheme’s forfeiture rule … Read more

PPF significantly reduces levy estimate and seeks views on future levy design

The Pension Protection Fund (PPF) has announced that it plans to significantly reduce the amount it expects to collect through the PPF levy from 2023/24 onwards. This follows a review by the PPF of its Long-Term Funding Strategy. In light of its strong financial position, driven by strong investment performance and changes in the risk … Read more

New long-term funding requirements for DB schemes – Are they fit for purpose?

In the latest podcast from Herbert Smith Freehills’ pension team, Tim Smith, Professional Support Consultant, is joined by Jon Forsyth, Partner and Actuary at LCP, to discuss the Government’s proposals regarding the need for defined benefit (DB) schemes to implement a long-term funding and investment strategy. In particular, Tim and Jon discuss:  the likely impact … Read more

Pensions Planner – Autumn 2022

Here is the latest edition of our Pensions Planner, which will help you identify the key pension issues your scheme or organisation needs to address in the coming months. The latest edition covers: the steps schemes need to take to prepare for pensions dashboards the potential impact of the new long-term funding and investment requirements … Read more

Pensions Planner – June 2022

Here is the latest edition of our Pensions Planner, which will help you identify the key pension issues your scheme or organisation needs to address in the coming months. The latest edition covers: what schemes need to do to prepare for pension dashboards the impact of the new Consumer Duty the latest Annual Funding Statement … Read more

Pension Disputes Bulletin – May 2022

Welcome to the latest edition of our Pension Disputes Bulletin. Our regular disputes bulletins contain summaries of key cases, Ombudsman decisions and regulatory activity and highlight emerging risks for pension schemes, providers, sponsors, administrators and other service providers. In this edition we consider the implications of: the FCA’s latest proposals for the new Consumer Duty; … 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