In 2015 the Prudential Regulation Authority (PRA) conducted a General Insurance Stress Test exercise for all Category 1 and 2 UK regulated general insurers. 63% of the general insurance market (by premium) participated, covering 26 insurance groups across 39 legal entities.
Our Pension Administration Technical Help highlights pensions news and legislation that has particular interest to what we do in Pension Administration.
This edition of Current Pensions Issues includes several actions for trustees surrounding the end of contracting-out, Integrated Risk Management, Persons of significant control and PPF Levies.
On 6 April 2016 legislation was introduced to reduce the Lifetime Allowance (LTA) to £1 million. This note sets out who can apply for FP2016 and IP2016, how the new protections work in practice, and how the interim application process operates.
Policymakers have played an increasing role in the direction of investment markets over recent years - arguably the most significant for UK pension schemes in 2016 is the upcoming vote on whether the UK should remain part of the EU.
The FCA issued Thematic Review TR16/2, 'Fair Treatment of long-standing customers in the life insurance sector' on 3 March 2016. The work by the FCA in this area has the scope to have considerable impact on the industry as a whole.
The key financial assumptions required for determining pension liabilities under the Accounting Standards FRS102 (UK non-listed), IAS19 (EU listed) and FAS158 (US listed) are the discount rate and the rate of future inflation. This note sets out some of the technical issues relevant to those involved in the preparation and the audit of pension disclosures.
Quarter 4 of 2015 saw a very strong finish to the year for the UK bulk annuity market. Overall, the value of business in 2015 fell just short of the record set in 2014, but was considerably above previous years.
Business owners may be able to use their own Self-Invested Personal Pension (SIPP) to buy commercial property and rent it to their own businesses – this briefing note looks at how rent arrears are dealt with and helps you to understand the implications.
Following the Chancellor's Budget speech we review any pensions-related issues including details of the Lifetime Individual Savings Account (LISA). We also take a look at Pension transfers, early exit charges and the abolition of contracting-out.