Welcome to the April 2017 issue of Compass
With memories of the long Easter weekend fading but with the prospect of another Bank Holiday on 1 May to look forward to, this April Edition of Compass continues our commentary and analysis of recent legislative and regulatory developments affecting pensions and employee benefits.
Two reports have been published by Sir John Cridland CBE and the Government Actuaries Department that will help inform the Government’s review of the State Pension age which is due this May, but may be delayed by the General Election.
At the end of March 2017 a cross-industry project group presented their newly designed prototype system for a ‘Pensions Dashboard‘ to Government Ministers and later the prototype was unveiled to the public on 12 April, an event that was part of the FinTech week 2017. This is an important step forward in the development of pension dashboards which are a potentially ‘game changing’ step forward in technology that will raise and simplify public awareness of pension saving, but practical challenges also abound.
The Pensions Regulator (TPR) has issued an innovation plan, new investment guidance and a consultation on the definition of a professional trustee as well as a draft policy on monetary penalties.
Elsewhere in Compass we cover:
- Two examples of the Pensions Regulator using its broader powers as prosecutions succeed against a law firm and the head of a charity
- Two legal cases (FDR Ltd) concerning how pension increases should be applied and the Thales case on whether the scheme rules permit a switch from RPI to CPI
- The PPF confirms its levy rules for 2017/18 and consults on the levy rules for the triennium starting in 2018/19
- News from the FRC on FRS102 and practice note 15
- Capping early exit charges for occupational pension schemes
- A consultation on draft contracting-out regulations to allow transfers of contracted out benefits to newly created schemes in limited circumstances
If you have any questions regarding the topics covered, please email: firstname.lastname@example.org
Compass April Issue 2017
The April edition of our online monthly publication, Compass, is now available. Compass provides commentary and analysis of recent legislative and regulatory developments affecting pensions and employee benefits.Read more