Catherine McKenna

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PPF Puts in Place Practical Policies

The Pension Protection Fund (PPF) has issued what might be the first of several coronavirus announcements. The first announcement provides information for trustees who are seeking to certify or re-certify contingent assets before the 31 March deadline. With immediate effect, trustees who are required to submit hard copy documents with their contingent asset certification/re-certification, should … Continue Reading

Ticket to Accreditation – Choices for Professional Pension Trustees

It turns out that accreditation systems are like buses – you wait patiently for what seems like ages, and then two come along at once. Many in the pensions industry were surprised by the Pensions Management Institute’s (PMI) announcement on 13 February that it has launched an accreditation system for professional pension trustees. This followed … Continue Reading

End of Round One for TPR?

The pension schemes bill has been issued, giving The Pensions Regulator (TPR) stronger powers, but its passage through parliament is far from over. The new bill legislates for “collective money purchase benefits” and the pensions dashboard, it amends the scheme funding provisions of the Pensions Act 2004 and introduces changes to the individual transfer regime … Continue Reading

Budget resolutions and the UK general election: what does it mean for pensions?

A client asked me a pertinent question yesterday, along the lines of: “Do the pensions changes announced in the last Budget still stand given that they are not yet enshrined in legislation and Parliament is soon to be dissolved?” The short and unhelpful answer is: “It depends…”  But what exactly does it depend upon? By … Continue Reading

The end of an era – RIP contracting-out

Are you one of the 2,500 private sector employers operating a contracted-out pension plan? Or are you a trustee or an adviser to one of those pension plans? There is work to do if the sponsoring employer wishes to mitigate the effects of the increase to its National Insurance contributions from April 2016 when the … Continue Reading

“NO!”

The “Better Together” campaigners will be breathing a sigh of relief this morning as the referendum on Scottish independence has returned a “No” vote. The impact of a “Yes” victory on pensions would have been profound and far-reaching. Concerns were raised during the independence campaign around the lack of clarity on pensions issues. These included … Continue Reading

A Lesson in How to Manage Expectations – From the Pension Protection Fund

The Pension Protection Fund should be given an ‘excellent’ mark in terms of its management of public expectations. In this economic climate (or in any other economic climate for that matter!) not many organisations could increase bills by 10% without provoking a huge public outcry. The PPF has been stating the inevitability of the increase … Continue Reading
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