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.
We also look at:
New guidance from the Department for Work and Pensions (DWP) on the alternative tests of defined benefit (DB) scheme quality to determinewhether a DB or hybrid pension scheme may continue to be used for auto-enrolment (AE) purposes;
The regulations that are now in place allowing formerly contracted-out DB schemes to modify their rules in relation to the revaluation of Guaranteed Minimum Pensions (GMPs) before retirement;
A review of pensions related issues raised in George Osborne's eighth budget speech on 16 March 2016;
The joint response from the Treasury and DWP following their earlier call for evidence oncreating a secondary market for annuities; and
A round up of latest news from the pensions world in our 'news in brief'.
Tyron advises trustees of UK defined benefit (DB) pension schemes on scheme funding, governance matters and winding up. He also advises employers on pension benefit design and accounting for pension costs in corporate accounts under a number of local and international accounting standards.