Brexit is likely to reduce the urgency from trustees to take action on guaranteed minimum pensions (GMP) equalisation according to Anna Rogers.
The senior partner at Arc Pensions Law said the vote to leave the European Union (EU) increased the uncertainty about the law relating to GMP equalisation. She said: "It is going to take a long time...
The government must work with HM Revenue and Customs (HMRC) and the wider industry to clarify GMP equalisation uncertainties, Mercer says.
The Universities Superannuation Scheme (USS) trustee board has warned investment returns will be lower in the future than expected as it edges closer to concluding its 2020 valuation.
Pension transfer values ended 2020 at £259,000, 8% higher than the start of the year, according to XPS Pensions, after suffering periods of substantial volatility linked to the pandemic while potential scams reached record highs.
The Pensions Regulator’s (TPR) long-term funding approach will put extra financial pressure on UK pension scheme sponsors, according to Aon.
Around two-thirds (77%) of Local Government Pension Scheme (LGPS) funds have received a claim relating to historic transfers over the past 12 months, according to Eversheds.