UK - The Society of Pensions Consultants has teamed up with the Law Society to look at pensions sharing on divorce.
The move is outlined in a progress report on the SPC’s activities, which highlights in particular, the work of its administration committee and its dialogue with the National Insurance Contributions Office on the recovery of overpaid age-related contracted-out rebates.
SPC secretary John Mortimer said: “The move from defined benefit to money purchase provision in many firms will put the spotlight even more strongly on administration and the committee is planning for an ever more central role in the pensions debate.”
The SPC administration committee was set up two years ago in a bid to provide a centre of expertise drawn from organisations with a direct role in the day-to-day running of pension schemes.
It aims to see how developments in pensions legislation affect the way schemes are run.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
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