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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
The Mansion House reforms In July, the Chancellor of the Exchequer delivered his Mansion House speech outlining a wide range of proposed reforms to pension saving in the UK. The “Mansion House Compact” was signed on the day of the speech by nine defined contribution (DC) pension providers[1] committing to allocate a minimum of 5% … Read more
The Government has launched a consultation on proposals to eliminate the proliferation of small pension pots by introducing a solution involving multiple authorised default consolidators. Initially, the proposed solution would apply to deferred pots with a value of less than £1,000. Based on current data, this would help to eliminate up to 61% (12.1 million) … Read more
Hot on the heels of the Chancellor’s Mansion House speech, the DWP has published a raft of documents, all designed to drive better outcomes for pension savers and to promote investment by UK pension schemes in alternative assets including in high growth businesses. As part of the Government’s drive to boost economic growth, it wants … Read more
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
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
In the latest podcast from the Herbert Smith Freehills’ pensions team, Tim Smith, Professional Support Consultant, is joined by Anna Brain, Research Associate at the Pension Policy Institute (PPI) and Lead Researcher on the UK Pensions Framework project. Among other things, Tim and Anna discuss: • what the PPI UK Framework is and how it … Read more
In the latest podcast from the Herbert Smith Freehills’ pensions team, Mark Howard, Of Counsel, is joined by Claire Altman, Managing Director of Individual Retirement at Phoenix to discuss: the challenges for retirement decision making; retirement product design and advice for members; and whether collective DC schemes might offer an alternative solution at retirement. To … Read more
The Pensions Regulator has confirmed that the new statutory funding requirements for defined benefit (DB) schemes and the associated new Code of Practice will not now come into force until April 2024 at the earliest. This is set out in the Regulator’s Corporate Plan for 2023/24, which also contains updates on the new General Code, … Read more
