Pension schemes have considerably stepped up their preparations for Brexit over the last year, despite the outcome still not being known, the Pensions and Lifetime Savings Association (PLSA) has found.
Nine in ten workplace pension fund trustee boards have discussed the potential impact of Brexit, up from 63% last year, while two-thirds have formally assessed Brexit risks, up from 26%. Another 55%...
The Pension Regulator’s (TPR) strengthened powers under the Pension Schemes Bill could lead to a revival of its clearance process, according to advisers and lawyers.
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.
Mediation has been under-utilised historically as a means of dispute resolution in this area. Mark Blyth and Geoff Egerton think this is going to change.