Law and Regulation

Uncertainty guides lawyer advice despite lower worry over regulatory bite

The government has brought forward regulations to mandate the largest schemes to assess and report on their climate change risk to investments.

The Treasury has ruled out any immediate changes to pensions tax relief, noting the “profound and far-reaching impacts” of an overhaul.

Jacqui Woodward says small schemes may struggle to deal with the myriad issues highlighted in TPR’s annual update.

Two pension trustees have appeared in court charged with making illegal loans from a company pension scheme to the scheme employer.

The revised defined benefit (DB) funding code is not likely to be live until late 2022, The Pensions Regulator (TPR) has said.

Many trustees are not fully aware of the new requirements of The Pension Regulator’s (TPR) combined code of practice, giving them little time to prepare for change, Barnett Waddingham says.

The pensions freedoms rules should be amended to allow savers to access their 25% tax-free lump sum and leave the rest invested in their pension, Lane Clark & Peacock (LCP) has urged MPs.

The Pensions and Lifetime Savings Association (PLSA) has called for a new set of product, communication and governance standards to allow greater provider support for savers.

Dawn Heath says the government has abdicated responsibility to the regulator over how to apply new criminal sanctions.