Month: January 2020

In the news this week, the Pension Schemes Bill progresses through Parliament, a new Chair is announced for the WPC, Britvic is told it cannot switch from RPI to CPI and two large de-risking transactions are completed.

In the news this week, the ACA calls for AE contribution increases plus tax and pension simplification, MaPS launches its 10 year financial wellbeing strategy and the AA consults on stopping future DB accrual.

In the news this week, the consultation on the RPI is delayed until March, the first DB funding code consultation is also expected in March, there is speculation about the Treasury’s intentions towards the tapered annual allowance, HMRC announces a further delay to the final GMP data cuts and Dominic Chappell is ordered to pay £9.5 million.

In the news since 20 December 2019, the Pension Schemes Bill returns, the FCA takes action against bad DB transfer advice, the Chancellor confirms the Budget date and two pension schemes win a US class action.

2019 marked 50 years since Neil Armstrong walked on the moon and this was obviously on the Queen’s mind in her Christmas message as she talked about a bumpy year but one with small steps of progress as well. In terms of pensions, it also felt like a year of small steps and occasional bumps. In this quarter’s Arena, we take a positive look back at 2019, as well as looking forward to some expected pension developments over 2020.