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Simpler annual statements – response to consultation and final regulations

Introduction On 19 October 2021, the DWP published its response to the consultation on proposed regulations and statutory guidance to introduce simpler annual s...

Why the rules are just the beginning…

The benefit specification from start to finish When securing benefits through a bulk annuity policy with an insurer, it’s important to ensure the benefits are c...

Gender recognition by pension schemes: the legal position

For many occupational pension schemes there is an interplay between the scheme’s benefit structure and gender that continues to necessitate the inclusion of a m...

Considering marital status tracing? – Think data protection

As defined benefit schemes mature, de-risk and edge ever closer to buy-out and wind up, companies and trustees are increasingly focusing on different types of r...

PASA issues anti-franking guidance

Introduction Following requests from the industry to expand upon the section included in its methodology guidance, on 29 September 2021 PASA issued supplemental...

Key changes in force from 1 October

Introduction Several key changes are coming into effect from 1 October 2021 under the Pension Schemes Act 2021 (“PSA21”) and beyond. Where necessary, trustees a...

: Buy-ins and buy-outs – getting risk transfer right

Sackers’ risk transfer experts reflect on some of the knottier aspects of buy-in and buy-out transactions, including deal preparation, benefit specification due...

Increasing the normal minimum pension age for Pensions Tax

Background In July, HMRC published a consultation on draft clauses for the Finance Bill 2021-22, including provisions which will increase normal minimum pension...

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