Changes to Financial Support Directions and Notifiable Events Regime
This month we highlight:- changes to the "look-back" period for Financial Support Directions (FSDs); removal of the need for certain key scheme/employer events to be notified to the Regulator under the notifiable events regime; and new ICAS Guidance on evaluating scheme auditors. Financial Support Directions As of 6th April this year, new Regulations hav…
Disclosure and employer debt legislation - update
Review of disclosure requirements – simplification? The DWP has recently launched a consultation exercise (to finish on 6th May 2009) on the disclosure of information requirements applicable to pension schemes. By way of reminder, the disclosure requirements relate to the duty imposed upon both trustees and sponsoring employers of occupational pension schemes to disclose ce…
Regulatory update
The theme of this February edition of Pensions E-Bulletin is developments at the Pensions Regulator. We look at changes to the Regulator's powers introduced by the Pensions Act 2008 (PA 08) relating to anti-avoidance powers, consider draft proposals to give the Regulator power to impose civil penalties when employers fail to consult members of pension schemes and also look at a…
Pensions Extra
In this February 2009 edition of Pensions Extra we examine key changes included in the Pensions Act 2008, which received Royal Assent towards the end of last year and also consider changes proposed by the Department of Work and Pensions (DWP) relating to self-investment in sponsoring employers. Pensions Act 2008 The Pensions Act 2008 (PA 08) introduced a number of changes,…
Flexible retirement/age discrimination update
Age Discrimination – a quick reminder The law on age discrimination in occupational pension schemes changed with effect on and from 1 December 2006, such that it became unlawful for an occupational pension scheme to discriminate against its members on age-related grounds. The legislation was drafted to include an implied non-discrimination rule into every pension scheme. Given…
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