Pension Regulator’s climate change strategy

The Pensions Regulator has published details of its climate change strategy which sets out its strategic response to climate change. It provides an insight on how the Regulator plans to help pension scheme trustees manage the risks and opportunities associated with climate change.

EU taxonomy for sustainable activities

The European Union (EU) has published a draft taxonomy, or classification, for environmentally sustainable economic activities. It is designed to help assess companies and investments and identify those that have a substantial positive impact on the climate and the environment. Essentially, it aims to clarify what constitutes a ‘green’ investment.

Regulator says ‘How much would you pay to make this go away?’

The Pensions Regulator has outlined its policy on the negotiation and conclusion of settlements with those that are targeted for enforcement action. It is clear that employers, trustees and others who find themselves in that situation are free to make the Regulator an offer in the hope of securing its agreement not to pursue matters further; and that the offer may be accepted if it will save time and money and achieve a positive outcome for the pension scheme and its members.

Statutory review supports DC chair’s statement re-think

A mandatory review of the operation of legal requirements for the governance of defined contribution (DC) schemes has concluded that annual governance (‘Chair’s’) statements are ‘not working’ as intended. The Department for Work and Pensions (DWP) and the Pensions Regulator are to undertake further work to clarify the purposes of the statements, their contents, and the lack of discretion that the Regulator has over fines for compliance failures.

Regulator annual report on DB & hybrid schemes

The Pensions Regulator has published its annual report on the landscape of defined benefit (DB) and hybrid pensions, effective at 31 March 2020.

Viral news- April 2021

Treasury Direction & Updated TPR guidance

The Pensions Regulator has updated its COVID related defined contribution (DC) and auto-enrolment guidance to reflect the latest extension to the Coronavirus Job Retention Scheme (CJRS) and wider Government support available until the end of September.

HMRC newsletter

Her Majesty’s Revenue and Customs (HMRC) has published Pensions Schemes Newsletter 129.