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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
Following the Chancellor’s Mansion House speech, the Government has finally issued a response to its December 2018 consultation on implementing a statutory regime for the regulation of defined benefit (DB) consolidator vehicles, known as “Superfunds”. Development of a statutory regime has been held up by debate within Government, and the pensions industry, over the nature … 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
Successful multi-creditor re-financings and restructurings require those involved to understand the commercial and legal priorities of other stakeholders in order for a positive outcome to be achieved and unnecessary value destruction avoided. To aid this we have collaborated with Grant Thornton UK LLP to publish ‘Getting inside each other’s heads’ – a paper which explores … 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
Overall, the Regulator’s Annual Funding Statement strikes a positive tone with most defined benefit schemes experiencing improved funding levels through a combination of investment out-performance from return-seeking assets and a significant rise in gilt yields. Around a quarter of schemes are expected to be funded above buy-out; with many others exceeding their technical provisions. However, … Read more
