DWP Updates Funding and Investment Strategy Regulations

The DWP has published an updated draft of the Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2024 (the “Regulations“) replacing the draft published on 29 January 2024. The updated Regulations clarify previous ambiguity in the timing of the changes being made. The new funding regime will apply to all actuarial valuations with … Read more

New Pensions Regulator Guidance on Private Market Investments

The Pensions Regulator has published guidance for trustees regarding investment in private markets. This guidance follows on from the Government’s Mansion House reforms, announced last July and reconfirmed in the Autumn Statement, which are intended to ‘enable our financial services sector to unlock capital for our most promising industries and increase returns for savers, supporting … Read more

Pensions Planner – Autumn 2023

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 includes: the Mansion House Reforms and the Autumn Statement Defined Benefit Superfunds – a new regulatory approach and the first transaction a Pensions Ombudsman … Read more

Government gives green light to statutory regime for DB Superfunds

Following the Chancellor’s Mansion House speech, the Government has finally issued a response to its December 2018 consultation on implementing a statutory regime for the regulation of defined benefit (DB) consolidator vehicles, known as “Superfunds”. Development of a statutory regime has been held up by debate within Government, and the pensions industry, over the nature … Read more

Chancellor seeks to unlock the power of UK pension investments

As expected, the Chancellor used his annual Mansion House speech last night to announce a series of initiatives designed to increase the amount UK pension funds invest in UK high-growth companies and to boost returns for pension savers. The Chancellor also announced measures designed to strengthen the UK’s position as a listing destination, as well … Read more

Life as a Professional Trustee: EP1

In the latest podcast from the Herbert Smith Freehills’ pensions team, Tim Smith, Professional Support Consultant, is joined by Jane Beverley, Professional Trustee at Law Debenture to discuss: • what life is like as a professional trustee; • key challenges schemes are grappling with at the moment; • a trustee perspective on calls for pension … Read more

Improved outcomes expected for DB schemes affected by corporate distress

Successful multi-creditor re-financings and restructurings require those involved to understand the commercial and legal priorities of other stakeholders in order for a positive outcome to be achieved and unnecessary value destruction avoided. To aid this we have collaborated with Grant Thornton UK LLP to publish ‘Getting inside each other’s heads’ – a paper which explores … Read more