The Pensions Regulator (TPR) has published a quick guide for employers to its Code of Practice on Defined Benefit funding, together with a short video. The guide is designed to help employers understand the key messages in the Code and how they apply to employers. It highlights the employer’s role, the importance of trustees and employers working together, issues on managing risks and the need for a balanced approach to reaching funding targets. To review the guide click here.
TPR has published its 2014/15 annual report and accounts. This contains a strategic report considering corporate priorities as well as a governance statement, accountability reports, a financial review and statutory accounts.
TPR has confirmed that it is consulting with the DWP and the FCA on whether large trust-based defined contribution (DC) schemes and master trusts should be required to provide “specific risk warnings” to members who wish to use the DC pensions flexibilities. Currently this is only a requirement for providers of contract-based DC pensions. Any change in the current regime is expected to dependent on the scheme’s size.
The PPF has issued its guide to its levy invoices for levy year 2015/16 – trustees should expect to receive their levy invoices during the course of the next month.
HM Treasury has announced that the Chancellor will deliver his Autumn Statement to Parliament on Wednesday 25 November 2015, alongside the Spending Review.