In this edition we look at key developments from September 2016, including the following:
Pension Protection Fund
The announcement of the Levy Estimate for 2017/18 and the publication of the consultation in relation to the levy rules; and a consultation relating to the long service cap for PPF compensation.
Consultations and legislation
A consultation and a call for evidence about the requirement for members to take independent financial advice before transferring or converting safeguarded benefits to flexible benefits - the consultation relates to a particular type of benefit which falls within the definitions of both safeguarded benefits and flexible benefits and the call for evidence relates to overseas transfers; and the Finance Act 2016 receiving Royal Assent.
A Brief from HMRC about VAT and DB pension schemes which extends the transitional period to the end of 2017; and HMRC's latest pension schemes newsletter.
Public service pension schemes
The publication of regulations, guidance and a response to consultation about the Local Government Pension Scheme and investment; and responses to February consultations about reforms to public sector exit payments.
Guidance from the Pensions Regulator about automatic re-enrolment; an update about an appeal against a Court of Appeal judgment concerning survivors' benefits; the publication of the annual review for The Pensions Advisory Service for 2015-16; and an announcement about plans for the development of a pensions dashboard.
On the Horizon
A timeline of some of the key future developments in pensions to help employers and trustees plan ahead.
To read more on these topics, view the September 2016 edition of Pensions Round-Up.