COVID-19 Pressure points: Regulator gives green light for trustees to suspend transfer values and updates guidance on deferring employer pension contributions (UK)

Last Friday, the Pensions Regulator published further guidance for trustees and employers related to COVID-19. This includes additional guidance on funding and investment for trustees and sponsors of DB schemes, guidance on suspending transfer values and guidance on investment for trustees of DC schemes. The guidance can be found on the Regulator’s new COVID-19 hub. … Read more

COVID-19 Pressure points: Pensions Regulator and PPF issue guidance for trustees of DB schemes with distressed sponsors (UK)

The Pensions Regulator has issued further guidance relating to COVID-19. This includes specific guidance for trustees of defined benefit schemes whose sponsor is in or may experience financial distress, as well as more general guidance relating to business continuity and scheme administration aimed at all schemes. Sponsors and trustees clearly need to be taking immediate … Read more

COVID-19 Pressure points: Regulator issues statement to trustees (UK)

The Pensions Regulator has today issued a statement on COVID-19 and what trustees may need to consider as the situation evolves. Among other things, the Regulator has said that: it expects trustees to have appropriate contingency planning in place, including a business continuity plan detailing actions that would be taken if certain events took place … Read more

Pension disputes bulletin – March 2020

Welcome to the latest edition of our quarterly pensions disputes bulletin. In these bulletins we report on key cases, Ombudsman determinations and regulatory activity and identify emerging risks for pension schemes, sponsors, administrators and other service providers. In this edition we cover: key regulatory developments in relation to the Pension Schemes Bill and the Pensions Regulator’s … Read more

Budget 2020: Key pensions points

Despite all of the traditional talk of changes to pensions tax relief in the run-up to the Budget, today’s Budget turned out to be a quiet one for pensions, with the Chancellor’s focus and priorities elsewhere. However, the Budget did include some pensions-related announcements including the launch of the consultation on the future of the … Read more

Regulator targets dignified end for DB schemes in consultation on new funding Code

The Pensions Regulator has today launched the first stage of its consultation on its new DB funding Code. This consultation focuses on the principles that will underpin the new Code and, as expected, it sets out the Regulator’s expectation that, in general: DB schemes should have low dependency on their scheme’s sponsor and reach their … Read more