In this edition of Pensions Round-Up we look at key developments in pensions legislation and regulatory guidance from September 2019 including:
- Statement of Investment Principles: a DWP fact sheet about changes relating to the requirements for the Statement of Investment Principles and disclosure; and updates to the Pensions Regulator's DB investment guidance in relation to some of these legislative changes.
- The Pensions Regulator: the publication of a regulatory intervention report which includes information about the Regulator's approach to the requirement for relevant schemes to prepare a chair's annual statement.
- GMP equalisation: the publication of a Guidance Note on Methods by the cross-industry GMP Equalisation Working Group.
- HM Treasury: the publication of correspondence with the UK Statistics Authority about the Retail Prices Index.
- Pension Protection Fund: an update on the PPF's work to implement a 2018 CJEU judgment about PPF compensation; and the publication of a consultation in relation to the 2020/21 levy.
- Public service pension schemes: the publication by the Pensions Regulator of an engagement report relating to governance and administration of local government pension funds; and a consultation about proposals to introduce flexibility in the NHS pension scheme.
- Other news: the publication of retirement income market data by the Financial Conduct Authority. We also report on a July 2019 Court of Appeal judgment about rectification.
- On the Horizon: a timeline of some of the key future developments in pensions to help employers and trustees plan ahead.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.