Pensions Round-Up: November 2016

Pensions Round-Up UK Series

Pensions Alert (UK)

In this edition we look at key developments from November 2016 including the following:

The Pensions Regulator

The publication of checklists about new information required in the 2016-17 scheme return for DB and hybrid schemes; and, in relation to record-keeping, the results of the Regulator's latest research, a quick guide for trustees and an announcement that trustees will be asked to report on this issue in their scheme return.

Consultations

A consultation about reducing the money purchase annual allowance; the response to consultation about the introduction of a cap on early exit charges; and a consultation proposing amendments to the legislation on the end of contracting-out and setting out a proposed methodology for equalising pensions for the effect of GMPs.

Legislation

The progress of the Pension Schemes Bill through Parliament including news on timing of future developments; the latest revaluation order; and a consultation on draft regulations about the provision of information.

Case law

A Court of Appeal judgment looking at whether the rules of a particular scheme gave the trustees power to substitute RPI with CPI and the impact of section 67 of the Pensions Act 1995.

Public service pension schemes

A consultation on indexation and equalisation of GMP in public service pension schemes; a consultation about the introduction of an administration levy for the NHS Pension Scheme; and an announcement about amendments to the Civil Service Compensation Scheme.

Other news

A statement from the Office for National Statistics on the future of consumer price inflation statistics; and a call for evidence published by the Law Commission on pension funds and social investment.

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 November 2016 edition of Pensions Round-Up.