TPR has launched its new strategy to combat pension scams with an overall aim to create a “hostile environment” for those seeking to defraud savers. TPR’s strategy comes at a time that the UK is experiencing a “cost of living...
If you work in pensions and can’t say “I know what simpler annual benefit statements are”, you’ll want to read this. The new legal requirements for a shorter, simpler annual member statement for certain schemes (which we last...
A question which often arises in the context of corporate transactions is whether there is a need to carry out a consultation under pensions legislation where pension changes are effectively a side-effect of the transaction. To give an...
Notwithstanding the current economic climate, an increasing number of schemes seem to be finding themselves with a healthy funding position and the timeframe closing at some speed to being in a position to fully buy-out. This means that...
It’s 2022 – we expect instant results. At the click of a button you can book a holiday, buy goods for same day delivery and track them to your front door. So it’s understandable that members can get frustrated that if they...
We’re expecting developments on the pensions dashboards to be published on a regular basis over the summer. In fact, TPR’s guidance for pension scheme trustees was issued on 22 June (here’s a link to Sackers’ Alert), and the DWP...
For most of the past thirty years it is fair to say that if you were lucky enough to have a defined benefit (DB) pension then you didn’t need to worry about inflation too much. With the cost of living soaring this looks set to change....
Stronger than yesterday. Or at least come 1 June, if your scheme contains DC benefits, you’ll need to be. Why? Because in January the DWP published final regulations[1](the “Regulations”) requiring DC trustees to implement a Stronger...
“Houston, we have a problem”. Although the DC mission to help employees save up for a pension has been going well with auto enrolment, it is about to stall, unless we find a better way of turning those savings into retirement income....
Administering occupational pension schemes is a tough gig. The past few months have seen a steady stream of new legislation which has meant administrators have had to make significant changes to their processes, systems and documentation...
