Welcome to the July edition of our UK Pensions Update. This month has been characterised by a swathe of guidance and consultations; is it us or is there a feeling of desk clearing in the air ahead of the summer holidays? Whatever the reason, the majority of these developments are to be welcomed, addressing issues critical to the good governance of schemes. Affecting both DB and DC schemes, we have the new consultation on the future of trusteeship and governance.
On the DC front, there has been updated guidance from the Pensions Regulator (the "Regulator") on the new investment disclosure requirements; on the DB side, there is new guidance from PASA on transfers, as well as a "Call to Action" from the industry working group on GMP equalisation. Now, where on earth is the inflatable alligator?
In this issue:
- Pensions Regulator consults on the future of trusteeship and governance
- GMP Equalisation Working Group publishes "Call to Action"
- New online tool launched to help employers with their automatic re-enrolment duties
- Statement in Parliament responds to 2014 Review of Survivor Benefits
- Pensions Regulator updates DC Investment Guidance and announces longer term project to consolidate Codes of Practice
- Regulator issues joint statement on climate change
- PASA announces new DB transfer guidance
- Supreme Court refuses permission for the Government to appeal in firefighters' and judges' case
- BT denied right to appeal by Supreme Court