With the Pension Schemes Bill on its way in “late Spring”, now might be a good time for trustees to take stock of their trustee agendas and to brush off some items that may have been left to gather dust.
Pensions and Benefits
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Countdown To The First Own Risk Assessment
By Kate Bailey
It is just over a year since The Pensions Regulator’s (TPR) general code of practice came into force. In the last year, our clients have made good progress towards compliance, with trustees working with internal teams and external advisers to…
Waffles, Passports and Trustee Directors – Part Two
Part one of this blog covered the new requirement for company directors (including trustee directors) and persons with significant control to verify their identity with Companies House. They will be able to do this voluntarily from 25 March 2025 (the…
Waffles, Passports and Trustee Directors – Part One
What will you be doing during the third week of March? According to a US website, there will be various celebrations underway. Perhaps you will be making the most of national cocktail-making day, or maybe national cleaning week will…
SECURE Act 2.0 Mandatory Automatic Enrollment Requirements for New Retirement Plans Guidance Released
By Elise Norcini & Joe Yonadi
One of the hallmarks of the SECURE 2.0 Act of 2022 (SECURE Act 2.0) legislation was to increase participation in retirement plans. On January 10, 2025, the Treasury Department and the IRS came one step closer when they announced the…
The Department of Labor (DOL) Adopts Self-Correction for Common Retirement Plan Fiduciary Breaches
For the first time since the DOL adopted its Voluntary Fiduciary Correction Program (VFC Program) in 2002, retirement plan sponsors will be able to utilize self-correction as an efficient means to correct their most frequent compliance failures – late transmittals…
Twenty Five Years of Pensions − Don’t Look Back In Anger
I have been pondering the fact that we are coming up to a quarter of the way through the century. When Big Ben chimes in the new year, it will be 2025. How did that happen? And what has changed…
It’s A Fair Challenge! Penalty Decisions Examined
By Zoya Alam
In recent years, The Pensions Regulator (“TPR”) has been steadfast in enforcing compliance among pension scheme trustees and employers, often issuing penalties for non-compliance. However, recent cases indicate that with a valid reason, it is possible to contest and even…
Employer Indemnities – Will They Work If Push Comes to Shove?
To what extent does your trustee board understand the various ways in which they might be protected if things go wrong and claims are made against them? It is a difficult topic to think about, as no trustee ever wants…
Is £1 Million Enough?
It’s Yorkshire Day on 1 August and, when I was thinking about this blog, the stereotype of a stingy Yorkshireman came to mind. Not because I think Yorkshire folk are actually stingy. I don’t! I was wondering whether TPR’s powers…