9 December 2019 is an important date in each of their respective calendars, albeit for different reasons. 9 December is national heroes day in Antigua and Barbuda and it is also a date that should be of note for pension scheme trustees. Not only is it the eve of the coming into force of various provisions of the CMA’s order in relation to the investment consultancy and fiduciary management market, but it is also the…

Let’s start with the key point. If you get a knock on the door from The Pensions Regulator (TPR) then take a deep breath, do not panic and check your insurance policy as soon as you possibly can. TPR has promised to be “clearer, quicker and tougher” and we have certainly seen the regulator ramp up its enforcement activity this past year. And the pension schemes bill, if passed by the new Government, will give…

Think you have cracked auto enrolment? You may have chosen a pension scheme, enrolled the right people and notified The Pensions Regulator (TPR). What else can be left? Here are the top three things required to help you stay on track. 1. Re-enrolment and re-declaration Every three years you must assess some of your staff again, even if they have previously opted out or reduced their contributions, as their situation may have changed. You may…

The pension schemes bill has been issued, giving The Pensions Regulator (TPR) stronger powers, but its passage through parliament is far from over. The new bill legislates for “collective money purchase benefits” and the pensions dashboard, it amends the scheme funding provisions of the Pensions Act 2004 and introduces changes to the individual transfer regime (in a bid to make pension liberation schemes less effective). It strengthens the powers of TPR and it also amends…

Risk management is tricky, as things move along so fast, You think you have it covered, but that status doesn’t last. In terms of regulations, you may be surprised to learn Five hundred have been issued since the last decade did turn. We’re close to Twenty Twenty, it’s a good time to reflect On headlines from the last decade that we did not expect. In Twenty Ten a statement caused plenty of vexation, Some schemes…

Many people benefit from having a daily routine of some sort. Repetition takes away the stress of having to make lots of small decisions. For example, I take a brisk walk along the same route from the station to my office most days – I can judge whether I’m running early or late depending when I spot certain regular fellow commuters. But routine can also stifle perception. Some days I cannot really distinguish today’s walk…

Dinner time! Or rather, it’s time for our near annual reminder of the perils of ignoring The Pensions Regulator (TPR). We know by now that it really does bite! In 2017 we wrote about the first high profile uses by TPR of its power to prosecute individuals for failing, without reasonable excuse, to comply with an order to provide information to TPR when required to do so under section 72 of the Pensions Act 2004. In…