Many DB schemes are now focused on securing their liabilities with an insurer. As trustees work through the preparation needed for a buy-in or buy-out, legacy benefit design can sometimes create unexpected obstacles. One example we...
While buy-ins have typically been viewed as transactions that are only an option for larger schemes, size is no longer the barrier it once was. The ability for smaller schemes to enter the risk transfer market is becoming more affordable...
The normal minimum pension age (NMPA) will increase from age 55 to 57 on 6 April 2028. Trustees should understand how the change impacts their scheme and any action that may be required. What is the NMPA? The NMPA is the earliest age at...
DWP’s recent consultation on proposals to amend the transfer regulations has been eagerly anticipated within the pensions industry. It is no secret that the current regulations are overly restrictive in places and do not necessarily...
The use of AI tools (eg ChatGPT or Claude) by pension scheme members is no longer hypothetical. It is already reshaping how some complaints are drafted, framed and pursued. From generating structured complaint letters to assisting with...
Although it’s been a steep incline so far, we’ve made it to the halfway point of the year. With the football World Cup now dominating the headlines, there can likewise be pats on the back all round for getting the Pension Schemes Act...
PASA published industry guidance on artificial intelligence (AI) late last year. In this blog, we share our views on that guidance and what it means for trustees. “Be curious, with caution” The PASA guidance closes with the tagline...
Momentum with dashboards continues to build – last month we saw Money and Pensions Service (“MaPS”) shift another gear, as it announced it is recruiting participants for phase 2 of its consumer testing. What will phase 2 testing*...
Contracts, surveys, professional advisers, uncovering long-forgotten boxes, and negotiating funding Entering into a buy-in to secure DB pension liabilities shares many similarities with moving house. Both are significant undertakings that...
If you’re a trustee, you might be forgiven for thinking: another data protection requirement? But bear with us, this one is manageable, and for many schemes it won’t require a wholesale rethink of how complaints are handled. The Data...
