It’s Yorkshire Day on 1 August and, when I was thinking about this blog, the stereotype of a stingy Yorkshireman came to mind. Not because I think Yorkshire folk are actually stingy. I don’t! I was wondering whether TPR’s powers granted under the Pension Schemes Act 2021 (PSA 21) have made a difference, or whether … Continue Reading
A key deadline is looming under the 2022 Dashboards Regulations, and it is not your pension scheme’s “connect by” date, nor is it the ultimate statutory connection deadline of 31 October 2026. Pension schemes have until 8 August 2024 to apply to extend their deadline for connecting to the pensions dashboards infrastructure beyond the statutory … Continue Reading
Environmental, Social and Governance (ESG) is never out of the news for long. With manifestos from the Lib Dems and Labour containing pledges around pension funds being required to align with the Paris Agreement goals, and the Green Party’s manifesto containing a pledge to require the removal of fossil fuel assets from investment portfolios, now … Continue Reading
“The Brexit Freedoms Bill will enable the UK government to remove years of burdensome EU regulation in favour of a more agile, home-grown regulatory approach that benefits people and businesses across the UK”. (Government press release, 22 September 2022) “This has nothing to do with the merits of Brexit. It’s about how we make law … Continue Reading
It’s Not All About Climate Change! On 1 October 2021, new regulations came into force requiring larger pension schemes (starting with occupational schemes that have £5 billion or more of assets, plus authorised master trusts) to put in place appropriate governance, reporting and publication arrangements in connection with climate-related risks and opportunities. It is unusual … Continue Reading
In October 2019 pension trustees’ investment duties were expanded. Further changes will take place from 1 October 2020, which will affect defined benefit (DB), defined contribution (DC) and hybrid pension schemes. In order to be in a position to comply with those duties, trustees will need to take action now. Trustees not only need to … Continue Reading
9 December 2019 is an important date in each of their respective calendars, albeit for different reasons. 9 December is national heroes day in Antigua and Barbuda and it is also a date that should be of note for pension scheme trustees. Not only is it the eve of the coming into force of various … Continue Reading
The Competitions and Markets Authority (CMA) has issued its final order in relation to its investigation into the investment consultancy and fiduciary management market. The order comes into effect in two parts. Most provisions are effective from 10 December 2019, giving trustees and managers time to prepare for the changes. The monitoring and compliance provisions … Continue Reading
Are pension transfer delays (and complaints about them) here to stay? In its 2016/17 annual report, the Pensions Ombudsman (PO) noted that there had been an increase in the number of complaints about pension transfers. In fact, complaints about transfers were the second most popular form of complaint, making up 10.5% of all new investigations … Continue Reading
