Pensions Planner – Febuary 2021

The latest edition of our Pensions Planner is here. Click on the image below to open 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 coming … Read more

New statutory funding requirements put focus on end game for DB schemes

The Pension Schemes Act 2021 finally received Royal Assent on 11 February 2021. The Act contains some significant new funding requirements for defined benefit (DB) occupational pension schemes which mean that trustees and sponsors will soon be required to set a legally binding long-term objective for their scheme. In future, this objective will drive the … Read more

Pension Schemes Act 2021 – Commencement dates

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

M&A, restructuring, re-financing and dividends likely to be hit by new pensions offences and regulatory sanctions

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

New and evolving pension risks in 2021

2020 was undoubtedly an unprecedented year, dominated of course by the impact of Covid-19 and here in the UK, by the preparations for Brexit. The year may (finally) be over, however, these themes are likely to continue to dominate the agenda in 2021. Nevertheless, with vaccines being rolled out and a Brexit deal agreed, there … Read more

Climate-related disclosures for issuers: FCA publishes final rules

The Financial Conduct Authority (FCA) recently published a Policy Statement (PS20/17) and final rules and guidance in relation to climate-related financial disclosures for UK premium listed companies. Companies will be required to include a statement in their annual financial report which sets out whether their disclosures are consistent with the Task Force on Climate-related Financial Disclosures … Read more

Pressure points: Key pensions-related guidance (UK)

A plethora of guidance is being produced to help employers and trustees deal with the issues arising from the spread of COVID-19 and the measures that have been introduced to limit this. The table below (which we will update as new guidance is issued) provides links to the key pensions-related COVID-19 guidance issued to date … Read more