Report of the Interdepartmental Pensions Reform and Taxation Group published on 13 November 2020. Interdepartmental report

The Household Benefits Package is a package of allowances which help people with the costs of running their household. The package is available to everyone aged over 70 and to people under age 70 in certain circumstances. Only one person in a household can qualify for the package at any time. The following link gives useful […]

This article published by Quantum Advisory, our UK GAPS network colleagues, discusses CDCs as a viable alternative to the traditional DB and DC arrangements. CDC article: Quantum-News-Issue-47-Final-1 – Copy Full Quantum Advisory newsletter: Quantum-News-Issue-47-Final-1  

Defined contribution now accounts for more than 75% of the active membership of private sector pension schemes. The 2018 stats show a further decline in private sector defined benefit scheme membership. See Occupational_scheme_membership_data_and_PRSA_data_2018

This link summaries the points made by Brendan Kennedy Pensions Regulator when he addressed the IAPF on 2nd October 2018. The IORP II requirements are not yet clear. Presentation_by_Brendan_Kennedy_Pensions_Regulator_to_IAPF_Benefits_Conference

The Pensions Authority issued a reminder about trustee training requirements on 12 April. Trustee training can be arranged through Trident Consulting on a bespoke or general basis. Thursday, 12 April 2018: The Pensions Act (‘the Act’) requires scheme trustees to complete relevant trustee training within specified timeframes. Trustees and employers should be aware of their obligations […]

The Code of Practice on Longer Working is intended to give clarity to employers, employees and their representatives to what is reasonable as regards retirement. Employees do not have the right to work indefinitely. Employers do not have the right to impose an unjustified retirement age. Further information including how this Code may impact your workplace is available […]

This Order (Code of Practice on Longer Working – Order made under the Industrial Relations Act 1990), signed on 20 December 2017 and made under the Industrial Relations Act 1990, declares that the draft code of practice set out in the Schedule to this Order is a code of practice for the purposes of the Industrial Relations […]

Last week, the Financial Conduct Authority (FCA) in the UK referred the Investment Consultancy and Fiduciary Management* businesses to the Competition and Market Authority. *Where the investment management and investment consultancy are provided by the same firm. This action followed an investigation by the FCA which gave rise to a number of concerns including that: Trustees have […]

The Bill also introduces a number of measures which respond to the ongoing difficulties in Defined Benefit (DB) Occupational Pension schemes.  Firstly, it requires employers who sponsor DB schemes – whether or not those schemes are in deficit – to give 12 months’ notice of their intention to cease contributions. For a scheme in deficit, […]