Last Friday, the Pensions Regulator published further guidance for trustees and employers related to COVID-19. This includes additional guidance on funding and investment for trustees and sponsors of DB schemes, guidance on suspending transfer values and guidance on investment for trustees of DC schemes. The guidance can be found on the Regulator’s new COVID-19 hub. … Read more
We are aware of the wide-ranging financial, legal and practical challenges being faced by sponsors and trustees of defined benefit pension schemes as a result of the outbreak of COVID-19 and the global response to this. To help sponsors and trustees address these challenges we have included a checklist of immediate issues to be addressed. … Read more
The DWP has tabled amendments to the Pension Schemes Bill, which is currently going through Parliament, which would enable it to add to the governance and disclosure requirements for occupational pension schemes in relation to climate change risk. The proposed amendments would give the Secretary of State very broad regulation making powers to, amongst other … Read more
Yesterday, the European Commission issued a press release setting out a recommendation to the European Council to begin negotiations on the future relationship with the UK. The recommendation includes the draft text of the negotiating directives; these set out the parameters of the future relationship that the EU wishes to have with the UK (e.g. … Read more
The UK exited the EU at 11pm on 31 January 2020. Although the UK’s exit from the EU last Friday does not have an immediate impact on pension law and regulation in the UK, as more details emerge of the likely nature of the UK’s future relationship with the EU, pension scheme sponsors and trustees … Read more
The post below was first published on our Brexit blog The European Commission has started a debate with Member States on the shape of the Union’s future trade relationship with the UK and has made its views public in a series of slides. The UK Government has so far not set out its position in … Read more
With the election done and dusted and a strong Conservative majority now in place in time for Christmas, what does the New Year hold for pensions? Read more
As expected, in today’s Queen’s speech, the Government has confirmed that it intends to reintroduce the Pension Schemes Bill before Parliament. The Bill was first introduced three weeks before Parliament was dissolved ahead of the General Election. We expect the Bill to be reintroduced early in the New Year and for the content to be … Read more
So, the Conservatives return to Government with an 80 seat majority – a result few people predicted in the run-up to last Thursday’s poll. At a macro level, this removes a great deal of the (immediate) uncertainty that has existed since the EU referendum in June 2016. Barring a very unexpected turn of events, we … Read more
