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.
Pension news Week ending 23 October 2020 New superfunds guidance The Pensions Regulator has published updated guidance for trustees and sponsoring employers who are considering a transfer to a superfund or DB consolidator. The Regulator encourages early engagement with itself and sets out three ‘gateway principles’ which the transaction should meet, based on those in …
In the news this week, the Regulator publishes its strategy for the next 15 years and, along with the Pensions Minister, also focuses on superfunds, whilst the PLSA launches an initiative to help make climate-aware investment easier for schemes.
In the news this week, the Pension Schemes Bill continues its progress through Parliament, more people use Pension Wise and the State Pension Age is now 66.
In the news this week, the PPF consults on its 2021/22 levies whilst the Government announces that it won’t be reviewing the impact of pension tax reliefs.
In the news this week, the CMI asks for industry views on how to allow for 2020’s mortality experience, the DWP launches a small pots working group, the autumn Budget is abandoned but the Chancellor announces new measures to help businesses, the Barclays scheme subscribes to a Barclays bond and there is another repeat buy-in.
In the news this week, the DWP confirms its determination to bring about DC consolidation of smaller schemes, the Regulator ends more of its Covid-19 easements and the Court of Appeal rejects the claim that increases in the state pension age of women born in the 1950s was discriminatory.