When it wasn’t equalised – doh! OK, yes it was still a transfer, but the latest ruling by Mr Justice Morgan in the Lloyds Bank GMP equalisation saga is bound to cause yet more headaches for schemes already trying to grapple with the...
Following months of negotiations, on 24 December 2020, the UK and the European Union (the “EU”) reached an agreement on a new partnership. The EU-UK Trade and Co-operation Agreement (the “Agreement”) sets out the rules that apply...
Discretionary decision-making can feel tricky at the best of times for trustees seeking to ‘do the right thing’. With the increase in virtual meetings, systems for decision-making might be a bit different to normal and practices might...
For a trustee of a pension scheme, good communication with your members is increasingly important to get right. You need to consider how to communicate – the method and the language. But even more fundamentally, you need to consider...
Pressure on small schemes to consolidate In a recent consultation response, “Improving outcomes for members of DC pension schemes”, the Government views accelerating the consolidation of the DC market into fewer larger schemes as a...
The window for pension scheme trustees to file their compliance reports on last year’s new fiduciary and investment manager competition obligations is now open. But you need to act quickly: blink and it will be gone. It was unbolted...
The UK left the EU on 31 January 2020 and is currently in a transition period until 31 December 2020 (the “Transition Period”), during which time most EU law continues to apply to the UK. During the Transition Period, the UK and the EU...
For those wanting to get a good overview of the Pension Schemes Bill 2019 – 2021, you could do a lot worse than read the briefing paper published in the House of Commons Library. If you managed to make it to page 32, you would see that...
At the start of the pandemic, TPR was quick off the mark to publish funding and investment guidance for trustees. It subsequently updated this in June, to reflect its view of the impact of the ongoing crisis on pension schemes and to...
A one-stop shop where UK pension savers can view all of their pensions in one place sounds great. Even better if that information helps savers understand their retirement options and better navigate their financial future. But a pensions...
