UK Pensions Update - February 2020

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There have been a number of important developments this month including a further High Court judgment on RPI/CPI, the publication of some long awaited (potentially helpful) guidance from HMRC on GMP equalisation as well as some further detail on how the Regulator is proposing to raise trustee governance standards. We are giving a brief update this month on the progress of the Pension Schemes Bill, which entered committee stage in the House of Lords on 24 February, but will be giving you further detail in an upcoming edition of our Update.

In this issue: 

• HMRC publishes GMP equalisation tax guidance
• Brief update on the Pensions Schemes Bill
• Regulator publishes response to future of trusteeship and governance consultation
• Further RPI/ CPI case - employer fails to switch to CPI
• PASA launches consultation on DB transfers Code of Good Practice
• Brexit: Regulator issues guidance for trustees on preparing for the end of the transitional period
• Two new professional trustee accreditation systems launched
• Regulator confirms its approach to CVAs