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With the most significant reforms to UK pensions regulation for nearly two decades due to come into force later this year, we are delighted to launch our new UK pensions regulation hub to help you keep track of our latest thinking on the new regulatory requirements and the emerging risks. On the hub you will … Read more
After much work, the Pensions Regulator has published its new single code of practice for consultation. The new code is designed to update the Regulator’s expectations of workplace pension schemes and to make those expectations clearer and more accessible. As well as updating existing requirements, the code sets out a number of new requirements, including … Read more
In the latest podcast in our series on Pensions and ESG Caroline Escott, Senior Investment Manager at RPMI Railpen discusses what it means to implement a responsible investment strategy in practice. In particular, Caroline shares: how her interest in responsible investment and stewardship began and her career journey to date how RPMI Railpen is preparing … Read more
The Pension Schemes Act 2021, which will introduce new pension criminal offences, £1m regulatory fines and new requirements relating to funding and climate-related risks, received Royal Assent on 11 February 2021 but most of its provisions do not come into force imediately. Most of these measures are likely to come into force during the next … Read more
The Pensions Minister, Guy Opperman, has confirmed the Government’s timetable for implementing key elements of the Pension Schemes Act 2021. In a written ministerial statement published on 2 March, the Minister has confirmed the Government’s intention to introduce the new criminal offences and regulatory sanctions by the Autumn and to consult on draft regulations to … Read more
The Pension Schemes Act 2021 finally received Royal Assent yesterday, paving the way for the most significant reform of the regulatory regime for defined benefit (DB) pension schemes since its introduction in 2006. The Act introduces new criminal offences and new regulatory powers for the Pensions Regulator that could: significantly impact corporate activity, including M&A … Read more
The DWP has confirmed its plans to introduce new requirements relating to the management and disclosure of climate-related risks for the largest UK pension schemes. The proposed plans were broadly supported by the industry. However, the DWP made some changes in light of the consultation responses it received. Most notably, adjusting the deadline for schemes … Read more
In November 2020, the government announced an ambitious ten-point plan to boost green jobs and reach net-zero. The plan was a recent recognition at a national-level of the pressing need to combat climate change. It addresses an expansive set of topics: from offshore wind to walking and cycling; from carbon capture to finance. The proposals suggest regulatory … Read more
We are delighted to share the latest podcast in our series on ‘Pensions and ESG’, featuring Emma Douglas, Head of DC at Legal & General Investment Management. As policymakers, regulators and civil society groups increase the pressure on pension funds and asset managers to demonstrate that they are effectively managing environmental, social and governance risks, … Read more
