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Landmark Supreme Court decision on pension scheme trustee ESG investing
Case: R (on the application of Palestine Solidarity Campaign Limited and another) v Secretary of State for Housing, Communities and Local Government - Supreme Court
COVID-19 - Pensions
The COVID-19 pandemic has presented pension scheme trustees with some unprecedented financial, legal and practical risks.
In this pensions update we:
- summarise the guidance recently provided by the Pensions Regulator (TPR) on those risks; and
- suggest actions that trustees could take in order to manage those risks.
We also briefly consider the principles which TPR suggests trustees should keep in mind when considering a sponsor request to defer the payment of deficit repair contributions (DRCs) to the scheme.
The journey to buy-out
For many defined benefit schemes, the end-game strategy culminates in the trustees buying out the members’ benefits sin full with an insurer. We have helped trustees and sponsoring employers take the first steps on the journey to buy-out by preparing a due diligence report. This sets out an overview of the issues which need to be considered when deciding whether and how to buy-out benefits.
Important TPR update for Trustees including the flexibility to reduce or suspend deficit repair contributions (DRCs) for three months
Trustees may decide to reduce or suspend deficit repair contributions (DRCs) for three months
Managing the COVID-19 risks: Guidance from the Pensions Regulator and actions for pension scheme trustees
In this pensions update we summarise the guidance recently provided by the Pensions Regulator (TPR) on those risks; and suggest actions that trustees could take in order to manage those risks.
Data protection and GDPR
Conducting your pension scheme's annual data protection review.
Could PPF levies be on the rise?
The Pension Protection Fund (PPF) has recently had to re-think the level of benefits it provides members following the Court of Justice of the European Union (CJEU) decision of Hampshire.
The Pension Schemes Bill – new powers for the Pensions Regulator
The Pension Schemes Bill proposes changes to a number of areas of pensions law. This briefing takes a look at some of the key points that sponsors and trustees should be aware of if the Bill becomes law.
DIFCA issues Dubai Employee Workplace Savings Scheme (DEWS) laws for consultation confirming the 1 January 2020 commencement date
The long awaited laws setting out the end of the unfunded End of Service Gratuity and the introduction of the obligation to provide eligible employees with the funded replacement known as the Dubai Employee Workplace Savings Scheme (DEWS) have finally been issued by the DIFCA
Buy-ins and buy-outs: Timing matters
Pensions partner Stephen Richards works with independent investment consultant, Redington to look at why it is important that a buy in/and or buy-out is achieved in a timely and cost efficient manner.
Retrospective equalisation – a possibility?
Since the EU decision of Barber in May 1990, occupational defined benefit pension schemes have been grappling with effectively equalising their normal retirement dates for male and female members.
How to equalise guaranteed minimum pensions (GMPs)
Key steps to a successful conversion.
HMRC extends deadlines for registering trust based pension schemes
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 require trustees of trust based occupational pension schemes to register their trust with HMRC.
Dividends, recovery plans and long-term funding targets
Trustees and sponsors of defined benefit pension schemes should be aware of the annual funding statement issued by the Pensions Regulator in March 2019.