TPR is due to issue a new code of practice on pension scheme funding in 2020, reflecting new powers for a ‘clearer, quicker, tougher’ regulator and a subtle shift in TPR’s approach to DB scheme funding. Tyron Potts looks ahead and advises on actions to take in order to help schemes with the upcoming challenges.
TPR has recently increased its focus on the endgame of UK DB pension schemes. This briefing note explores how companies paying higher dividends than deficit contributions should expect more of a challenge on this from their trustees and the Regulator.
Transferring from a DB scheme is a major decision for members and there are many factors that should be taken into account. Simon Taylor, Partner offers advice to these members to understand their transfer options.
We have developed a streamlined process to carry out GMP equalisation and potentially conversion and simplification too. An outline of what this will look like is available to download.
With fewer DB pension schemes open to new joiners, many DB schemes are now on the long road to their end. This makes it increasingly important for trustees and employers to think carefully about what they are trying to achieve in the long term.
We are pleased to present the results of our eighth survey of the assumptions adopted by UK universities for determining the value of their pension liabilities for accounting purposes.
This briefing note looks at the key messages of the funding statement. Key areas covered include balancing risks, DRCs vs dividends and what the expectations of the TPR are.
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.
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.