Pensions Round-up - September 2015

Pensions Alert (UK)

Welcome to the first edition of our new monthly newsletter - Pensions Round-up.

This newsletter replaces our previous monthly newsletter (Pensions News) and has a new look and format which we hope you will find useful.

In Pensions Round-up we provide an overview of developments in pension legislation, case law and regulatory guidance. In this edition we look at key developments from September 2015 including the following: 

  • The Pensions Regulator: the results of research by the Pensions Regulator and the Financial Conduct Authority about the operation of the DC flexibilities; and a regulatory report detailing action taken by the Regulator in a case where a scheme missed two consecutive valuation deadlines.
  • The Pension Protection Fund: the announcement of the Levy Estimate for 2016/17 and the publication of the consultation about the levy rules.
  • Department for Work and Pensions: an update to the response to consultation and regulations about administering accrued contracted-out rights to address a procedural error identified in respect of the documents published in July; and the launch of a communications campaign about the upcoming State Pension changes.
  • HMRC: the publication of the latest Countdown Bulletin in relation to the end of contracting-out, and the latest pension schemes newsletter.
  • Case law: a judgment given at the end of July (and subsequently published) about the extent to which a scheme’s rules permitted the trustees to adopt CPI in place of RPI as the measure for revaluation and pension increases.
  • Public service pension schemes: the Government’s response to consultation and the publication of draft legislation about the imposition of a cap on exit payments for the public sector.
  • Other news: an announcement about a change to the oversight of Pension Wise; the date for the Autumn Statement 2015; the publication of TPAS’s annual review for 2014/15; and an update on timing for the review of the Incentive Exercises Code of Good Practice.
  • On the Horizon: a timeline of some of the key future developments in pensions to help employers and trustees plan ahead. 

Read Pensions Round-up in full