Our 96th edition of PATHways highlights pensions news and legislation that has particular relevance to what we do in pension administration.
The new Master Trust Authorisation legislation aims to improve the standards for master trust schemes. However, some multi-employer schemes will not appreciate that they are a master trust and that they will have to comply with the new standards.
We consider if bulk annuity purchases should be of interest to a wider group of schemes. Whilst there were 132 transactions in 2017, this is still small compared to the 5,700 UK DB pension schemes. Are these other 5,500 schemes missing a trick, or does bulk annuity purchase still only make sense in a small minority of cases?
On 12 December 2018, the Competition and Markets Authority (CMA) published its final report in relation to its review of the market for investment consulting and fiduciary management services.
Our 95th edition of PATHways highlights pensions news and legislation that has particular relevance to what we do in pension administration.
TPR carried out research which identified that many schemes were not being run to the standard expected by TPR. On the back of these findings TPR initiated an education program which was given the name of “21st Century Trusteeship”.
Pension consolidation is a broad concept, ranging from simplifying a scheme’s governance structure, to merging with other schemes to take advantage of economies of scale.
Despite the trend to move away from DB in favour of more flexible DC arrangements, employers wanting to maximise provision of benefits for employees without breaching the Annual Allowance and Lifetime Allowance limits may find a DB SSAS suits their needs.
The High Court has published its judgement in the case of Lloyds Banking Group Pension Trustees Limited vs Lloyds Bank plc (and others).