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...
Trustees issue lots of communications to their beneficiaries. Some are day to day comms, others are a one-off. Some go to the whole membership and others go to one beneficiary. Some are just for information, others require the recipient to...
Running a pension scheme involves making lots and lots of decisions of all shapes and sizes. Decisions which affect just one member through to decisions which affect the whole scheme. Trustees put a lot of time and effort into making good...
Cool (pension scheme) runnings – working with your administrator Administering a pension scheme is not easy and the bar keeps getting higher with new requirements such as the statutory transfer checks and the stronger nudge to guidance....
Many trustees will, from time to time, find themselves contacted directly by members with questions and requests for information about their pension benefits. Trustees generally want to help out members wherever they can. However, despite...
These days defined benefit schemes buy annuities as part of a bulk exercise to manage liabilities and ultimately wind-up the scheme. However, in the past many schemes bought annuities in the name of the trustee with different insurers as...
