I have been pondering the fact that we are coming up to a quarter of the way through the century. When Big Ben chimes in the new year, it will be 2025. How did that happen? And what has changed in the pensions industry so far this millennium?… Continue Reading
If you were under the impression that the single code of practice would be a consolidation of existing codes, then the content of this blog will come as a surprise! The Pensions Regulator (TPR) has published a consultation on the first phase of replacing the existing Codes of Practice with a single, online Code of … 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
As promised, The Pensions Regulator (TPR) has been raising its voice since publishing its 2018-2021 corporate plan setting out how it will be “more vocal” in its “clearer, quicker and tougher approach” to driving up standards in the pensions sector. Our blog examines TPR’s recent activity.… Continue Reading
If I ever claimed to be an expert on IT systems and processes, those who work in our firm’s IT department would struggle to contain their amusement. Along with many other forty-somethings, I am a proficient user of IT at work and at home – until something goes wrong. Then I find it frustrating because … Continue Reading
On 22 July 2016, the Pensions Regulator published its 21st Century Trusteeship and Governance discussion paper. The Regulator is acutely aware that boards of occupational pension plans carry out a very important and difficult role. Trusteeship is voluntary and, in aggregate, trustees are responsible for managing £1.8 trillion of assets on behalf of 32 million … Continue Reading
The UK Pensions Regulator (TPR) has issued its first fine to the trustees of a pension plan who failed to comply with the new legal requirement to prepare an annual governance statement, signed by the chair of trustees. The trustees received the minimum mandatory fine of £500 in this case. Since last year, a new … Continue Reading
