The Pension Schemes Bill announced in the Queen’s Speech on Monday has been introduced in Parliament. You can view the Bill here. The Bill contains provisions which, if it reaches the statute books, will: introduce new powers for the Pensions Regulator enable employers to establish Collective DC schemes (based on the model developed by Royal … Read more
The long-awaited Pension Bill has been announced in the Queen’s speech today. We understand that the Bill (which will be a ‘Pension Schemes Bill’) could be published as soon as tomorrow. We are also expecting the Regulator to launch the first part of its consultation on the principles and framework for the new defined benefit … Read more
Environmental, social and governance (ESG) issues are becoming increasingly high profile and they are moving up the agenda for trustee boards, pension providers and asset managers as they respond to new legal and regulatory requirements, to pressure from savers and action groups and to changing social norms. Today sees new legal requirements come into force … Read more
PASA has today issued guidance, drafted by the Equalisation Working Group, which outlines methods that schemes could use to implement GMP equalisation. The guidance also addresses some of the tricky issues that are likely to arise on most GMP equalisation projects including what to do about: past transfers in “no further liability” cases (i.e. where … Read more
Environmental, social and governance (ESG) issues are becoming increasingly high profile and they are moving up the agenda for trustee boards, pension providers and asset managers as they respond to new legal and regulatory requirements, to pressure from savers and action groups and to changing social norms. To help trustees and pension providers comply with … Read more
As the uncertainty over the timing and nature of Brexit continues, it is important that your organisation and pension scheme are prepared for any eventuality. You can follow the key developments and find out what you need to know to prepare for Brexit on our Brexit hub and by following our Brexit blog. Our Brexit … Read more
The Pensions Ombudsman’s annual report for 2018/19 shows that the number of pension related complaints continues to rise, with 1,538 new investigations opened by the Ombudsman in the past year (a 5% increase on the previous year). The top 10 reasons for new complaints remains largely unchanged from 2017/18, although the order has changed. However, … Read more
In the last few years we have seen an increasing use by the Pensions Regulator of its statutory power to request information – a so called ‘Section 72 request’. In fact, a recent freedom of information request that we submitted revealed that the Regulator has issued 656 Section 72 requests within the past five years. … Read more
