Law and Regulation

David Fairs set outs why the regulator believes the economic fallout from Covid-19 is not a reason to abandon revisions to the DB funding regime.

With great power comes great responsibility, Vassos Vassou says, as he welcomes the Pension Schemes Bill’s drive to improve adviser accountability.

Just over 10% of sponsors have requested the suspension of deficit reduction payments – a number that is likely to rise around 19% over the coming months.

While furloughed workers are still entitled to pension contributions, Justin Corliss says employers must consider the impact of Covid-19 on their duties.

The government has been urged to extend the scheme pays deadline for NHS Pension Scheme members in light of the Covid-19 crisis.

The Pensions Regulator’s (TPR) annual funding statement aims to keep up pressure on schemes but tries to avoid putting undue strain on employers at a time of crisis, the industry says.

The Pensions Regulator (TPR) has published its 2020 annual funding statement outlining how defined benefit schemes should approach forthcoming scheme valuations.

Pension scheme members looking to transfer from a defined benefit (DB) to a defined contribution (DC) pension during the Covid-19 crisis will be warned it is unlikely to be in their best long-term interests in a letter from regulators and schemes.

The Pensions Regulator has issued a raft of guidance on how DB schemes should face the current crisis. Here, David Fairs sets out more details in response to common questions.

The Pensions Regulator is anxious to meet the industry’s expectations, but this latest challenge does not come with a manual. Hope William-Smith speaks to David Fairs.