The Pension Regulator’s (TPR) Annual Funding Statement (AFS) is a fixture in the defined benefit (DB) pensions calendar but its arrival this year could not be against a more changed backdrop: new leaders for the two largest political parties, the country in lockdown, and the extraordinary concept of negative oil prices, while Brexit still rumbles on.
A year ago, this article would have covered a new DB funding code (now subject to a first-round consultation, but somewhat overtaken by recent events) and new powers for TPR (which have finally made it...
Spring Budget announcement
The industry has provided a predominantly negative response to the confirmation today that the lifetime allowance will be frozen at £1,073,100 until April 2026.
The Pensions Regulator (TPR) has agreed a settlement in its anti-avoidance case against the current owners of the bed manufacturer Silentnight.
Chancellor Rishi Sunak has plans to freeze the lifetime allowance for the rest of the current parliament in a "stealth tax" on the wealthy, according to reports.
The Association of Consulting Actuaries (ACA) has set out six key reform areas it is calling on the government to address before the end of the current parliament.