In the news over the last week, the Regulator provides an interim response to its funding code consultation, the Pensions Minister confirms TPR’s new powers will not be retrospective, a ban will be introduced to stop flat fees being charged on small pots and the Dormant Assets Scheme expands to cover pensions.
In the news over the last three weeks, TPR’s scam campaign gathers momentum, retail woes continue and some certainty is provided on UK State pension increases for those living overseas.
In the news this week, the data standards for Pensions Dashboards are published, there is a new consultation on the general levy, the PPF sets its levy for 2021/22, the Small Pots working group publishes its first report, the CMI confirms that 2020’s mortality experience will be ignored in its core model for CMI_2020, the Budget is to be on 3 March 2021 and more risk reduction activity is announced.
In the news this week, the Regulator blogs on the new funding code and plans new questions for DB scheme returns, whilst it has been a good week for risk reduction transactions.
In the news this week, there’s a new Purple book, the Arcadia schemes enter PPF assessment, the Court of Appeal overturns the decision to block a transfer of annuity business and another buy-in is completed.
In the news this week, RPI will align with CPIH from 2030, the Chancellor announces a new National Infrastructure Strategy and the triple lock for State pensions is maintained.
In the news this week, the second Lloyds judgement says that historic transfer payments need to reflect GMP equalisation, the Pension Schemes Bill moves back to the Lords, TPR gets tough on AE compliance, the FCA surveys DB transfer advisers again and another buy-in is completed.
In the news this week, the date of the Government’s response to the RPI consultation is confirmed, TPR publishes guidance for trustees in the event of sponsor distress and three further risk reduction transactions are announced.
In the news this week, the Bank of England decides on more QE, the furlough scheme is extended, the Pension Schemes Bill completes its Committee stage and the M&S Pension Scheme completes two more buy-ins.
In the news this week, the Government plans a stronger nudge towards pension guidance, there is a progress report for Pensions Dashboards and regulators investigate a spike in transfer requests at Rolls Royce.