Welcome to DLA Piper’s Pensions News publication in which we report on recent developments in pensions legislation, guidance and case law, as well as keeping you up to speed on what to look out for in the coming months.
This edition brings you the developments from October 2013 including the following.
- Automatic enrolment: amendments to make technical improvements to the legislation which come into force on 1 November 2013 and 1 April 2014; a brief guide for trustees; and the outcome of DWP research about the experience of large employers in implementing the reforms.
- The Pensions Regulator: the Regulator’s updated DC regulatory strategy; two consultations (on independent assurance reporting for master trusts and on the compliance and enforcement policy for DC schemes); and a Statement on double counting where ongoing contributions are treated as paying section 75 debts.
- PPF: the PPF’s latest Annual Report and Accounts and an update on progress with its long-term funding strategy.
- DWP: two consultations: on charges in DC schemes; and on consequential amendments to the legislation relating to a change in the statutory definition of money purchase benefits.
- Legislation: the consolidated version of the Disclosure Regulations which come into force on 6 April 2014; and updates on the Pensions Bill and Finance Bill.
- Case law: the High Court’s ruling that nine suspected pension liberation schemes meet the statutory definition of an occupational pension scheme; a CJEU judgment on age-related pension contributions; and two cases on the construction of pension scheme documents.
- HM Treasury: the new Fair Deal guidance which changes the form of pension protection to be provided following a transfer from the public sector to an independent contractor.
- HMRC: changes to registration and transfer processes designed to help combat pension liberation.
- Other news: the publication of the Law Commission’s consultation on fiduciary duties of investment intermediaries and an update on work by the Department for Communities and Local Government in relation to LGPS.
Please see full newsletter below for more information.
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