Regular round-up of the latest pensions, investments, trusteeship and scheme management news
Current Issues - June 2024
05 Jun 2024 - Estimated reading time: 7 minutes
See excerpts from this month's articles below (to read more, please download our latest Current Issues).
Election circumspection
On 22 May 2024, the UK’s Prime Minister, Rishi Sunak, called for a general election to be held on 4 July 2024. Parliament was prorogued (discontinued) on 24 May—requiring a last-minute change to the Whitsun recess—and then dissolved on 30 May. The next few months promise hustle and bustle for politicians and pundits, but bring uncertainty and inertia to the programme of pensions reform.
Dashboards update
Updates including the Pensions Dashboards Programme's draft data standards and recently published progress update report.
Qualified support for novel DB products
The Pensions Regulator published a blog post on 'Supporting innovation in savers’ interests'. In it, the Regulator talks about emerging market propositions that are now becoming (or may soon become) available to trustees of defined benefit (DB) pension schemes. It warns that such 'new DB models must offer both clear benefits and proper protections'.
Regulator looks to the future (it’s only just begun)
The Pensions Regulator has published a new three-year corporate plan. Its main priorities for the period include raising standards of trusteeship, data quality and administration; value for money and decumulation in defined contribution schemes; and the new funding regime and emerging propositions for defined benefit schemes. The plan also mentions development of a framework for oversight of professional trustees, and talks about some firms becoming ‘systemically important’ due to mergers and acquisitions.
HMRC newsletters: May 2024
Updates on HMRC's Pension Schemes Newsletter 160.
0 comments on this post