Regulation

Many trustees who require consent from HMRC and Inland Revenue to amend scheme rules are overlooking regulation to remove that requirement, a lawyer warns.

The state pension age will reach 66 by 2020, as part of the Spending Review.

IRELAND - The Pensions Board has prosecuted a trustee board for failing to submit an actuarial funding certificate.

Here they are. The list of the key changes in the pensions tax regime following today's announcement.

The Treasury has confirmed it will protect long-serving final salary scheme members after it increased the factor used for valuing benefits against the annual allowance from 10 to 16.

The annual allowance will be cut from £255,000 to £50,000; the lifetime allowance reduced from £1.8m to £1.5m, and the factor for valuing final salary benefits increased from 10 to 16, the Treasury has announced.

IRELAND - The Pensions Board has agreed to extend the timeframe for defined benefit schemes to submit their funding proposals.

Two years on from official regulatory guidance on managing conflicts of interest the majority of small pension schemes are still falling short, a law firm warns.

The Pensions Regulator needs to focus its attention more on smaller schemes, delegates heard.

Regulator guidance on enhanced transfer value exercises could force trustees and sponsoring employers to collude on offer terms to meet compliance standards, Mercer say.