The Pensions Regulator (TPR) has published a revised version of its code of practice on contribution notices. TPR has updated the code to cover the two new grounds for issuing a contribution notice – the employer insolvency and employer resources tests. The updated code came into force on 25 November.
Continue Reading Contribution notices – updated Pensions Regulator code of practice

Employers be aware – big changes to the defined benefit pensions landscape come into force

Some of the biggest changes to the defined benefit pensions landscape in recent years come into force on 1 October 2021. Much has already been made of the provisions of the Pension Schemes Act 2021. Here is a rundown of what comes into force on 1 October (note that these provisions do not have retrospective effect):Continue Reading Employers be aware – big changes to the defined benefit pensions landscape come into force

The Pensions Regulator has published its annual funding statement for occupational defined benefit (“DB“) pension schemes.   The statement is relevant for trustees and employers making decisions on scheme funding. It provides wider guidance on covenant monitoring due to the impact of COVID-19 and climate change risks. It highlights the need for employers to

With the increased focus on governance of trustee boards and the Pensions Regulator (the “Regulator“)’s expectation of skilled, engaged and diverse trustee boards being led by an effective chair, the selection of the “right” trustees is becoming even more important. As employers will often be responsible for appointing trustees to trustee boards, you will find below four factors employers may want to take into account before appointing any new trustees.
Continue Reading Trustee Board Selection – What Do Employers Need To Think About?

The Pensions Regulator recently published guidance for supervising the consolidation of defined benefit pension schemes into superfunds. The guidance provides an interim framework for the regulation of superfunds, prior to a statutory framework being put in place.

It’s a step towards establishing a superfund industry which could be a viable endgame option for certain schemes in the future.Continue Reading DB Superfunds – a viable endgame?

The Pensions Regulator (TPR) is the body responsible for regulating workplace pension schemes in the UK. Where an employer operates a defined benefit trust-based pension scheme for its employees, legislation requires it to notify TPR if certain events occur. Some events must always be notified, while others only need to be notified in certain circumstances.

On 15 October, the eagerly awaited Pension Schemes Bill (the Bill) had its first reading in the House of Lords. Whilst the Bill addresses the launch of collective defined contribution (or CDC) pension schemes and includes provisions enabling pensions dashboards, employers will be particularly impacted by the new requirement on trustees to produce a funding