Over the last few months, TPR has granted a raft of temporary easements in order to support employers and trustees through “these challenging times” and let them concentrate on the immediate risks the pandemic posed to their schemes. A...
The Pensions Policy Institute (PPI) recently published a briefing document entitled Small pots: what are they and why they matter, setting out the problems associated with small pots and some possible solutions. The aim is to support the...
The FCA’s consultation on advising on pension transfers has now closed and we wait with baited breath for the response; expected in early 2021. Add that to the lists of reasons for wishing 2020 away. In the meantime though, there’s...
All occupational pension schemes must prepare an annual report and accounts within seven months of the end of each “scheme year”. However, on and from 1 October 2020, there is a new requirement that annual report and accounts must also...
So, you’re a pension scheme trustee, and a pretty experienced one at that. When making a decision that involves your exercising a discretion, you are familiar with the key legal principles: Correctly understand the question you are...
Pension schemes hold large amounts of personal data which are key for providing benefits. However, this can make them a target for fraudsters and criminals who can use personal data to gain access to bank accounts or for identity theft. As...
Do the increased transparency and disclosure requirements for pension schemes enhance member engagement? Most of us living and breathing pensions in our day jobs would instinctively say “no”. The latest additions to the disclosure...
As we are all now aware, the Lloyds judgment has made it clear that schemes must equalise for the effect of unequal GMPs accrued between 17 May 1990 and 5 April 1997. In order for trustees to move forward with GMP equalisation...
We are soon approaching the ten year anniversary of the enactment of the Equality Act 2010, which made it unlawful to discriminate against others on numerous grounds. Pension trustees will be used to ensuring equal treatment on this basis....
If you’re in pensions and haven’t heard of Lloyds yet, well you’ve got some catching up to do. In a nutshell, pension schemes are required to equalise benefits for the effect of GMPs accrued between 17 May 1990 and 5 April 1997....
