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On 16 October, the Pensions Regulator launched a discussion paper on its new 15 year corporate strategy in which it emphasises that its main objective will, unsurprisingly, be to protect pension scheme members and their saving outcomes. However, somewhat surprisingly, it says very little about the Regulator’s role in supporting the economic recovery by promoting … Read more
A constant stream of Covid-19 related announcements have been made since the Summer, including details of the new Job Support Scheme replacing the Coronavirus Job Retention Scheme (CJRS) from 1 November, the Job Retention Bonus and new criminal offences for employers knowingly permitting employees who should be self-isolating to return to the workplace. Key upcoming … Read more
Before the outbreak of Covid-19, the Pensions Regulator was emphasising its tougher approach to pensions regulation: Clearer, Quicker, Tougher. This focus is borne out in the Pension Schemes Bill, with the range of extensive new powers it will afford the Regulator, and in the Regulator’s plans to introduce a new DB funding Code which (based … Read more
Alongside its new rules which are designed to improve the DB transfer advice market, the FCA has published draft guidance which seeks to explain how firms can comply with the FCA’s new and existing rules relating to pension transfer advice. The guidance also sets out the FCA’s views on the support trustees and employers can … Read more
The FCA’s new rules which will ban contingent charging and introduce the option for firms to offer abridged advice on defined benefit (DB) transfers came into force today (1 October 2020). These measures are intended to improve the quality of DB transfer advice. However, they could have the opposite effect if they result in more … Read more
One year on from the introduction of new ESG requirements for UK pension schemes, we interview Ashley Hamilton-Claxton, Head of Responsible Investment at Royal London Asset Management, in our latest pensions podcast to find out what impact this is having on the way pension schemes and asset managers assess and manage ESG risks. We also … Read more
Here is a round-up of the pensions blogs and briefings that we have posted during the past month. Some of these have been broadcast but several have not, to avoid sending you too many emails. Read more
On 24 September, the Chancellor announced the creation of a new Job Support Scheme (JSS) to replace the Coronavirus Job Retention Scheme (CJRS) which ends on 31 October 2020. The JSS is designed to support “viable jobs” by providing Government support for an employee’s usual wages where an individual is working at least one-third of … Read more
The latest edition of our quarterly Pensions Planner is here. Click on the image below to download your copy. The Planner and our handy timeline will help you keep up to date with the latest developments in pensions law and practice and identify the key pensions issues that your scheme or organisation needs to address in the … Read more
