Law and Regulation

The Pension Schemes Bill will now move for consideration in the House of Commons after it was passed in the House of Lords yesterday (15 July) following a third reading.

HM Treasury has announced it will resume the cost control mechanism for public sector pension schemes, noting the concern that the 18-month suspension has caused.

The economic crisis caused by Covid-19 has reinforced The Pensions Regulator’s (TPR) view that its defined benefit (DB) funding principles are “right”, says David Fairs.

Lorna Blyth looks at how an amendment to the Pension Schemes Bill could force pension schemes to align their investment strategies with the Paris climate agreement.

The Pensions Regulator (TPR) has said it will continue with its “clear, quick and tough” approach to driving up standards across the pensions industry following the coronavirus pandemic.

Gemma Willingham and Tom McNaughton look at how trustees can respond to increasingly-used data subject access requests.

Work and Pensions Committee (WPC) chairman Stephen Timms will table an amendment to the Pension Schemes Bill to allow schemes to pause transfers when a scam is suspected.

The Department for Work and Pensions (DWP) has launched a review to assess the effectiveness of costs, charges and transparency measures in protecting pension member outcomes.

The Pensions Ombudsman (TPO) has ordered a former owner of Norton Motorcycles to pay back £14m of pension fund monies that he had invested in the struggling sponsor.

Pension Insurance Corporation has reiterated its call for the establishment of a new consolidation vehicle, run by a not-for-profit agency, to target smaller underfunded schemes with weak sponsors.