Q4 2022 Pensions Action Plan
Published on 11th Aug 2022
A summary of changes and proposals in pensions law and regulation over the last quarter, which employers and trustees need to respond to now or in the coming year
We have released our Q4 2022 Pensions Action Plan. Topics addressed in this edition include:
- new expectations for statements of investment principles and implementation statements;
- a reminder of the 1 September 2022 deadline for registering certain trusts with HMRC;
- new regulations and guidance on the legal requirement for trustees to set strategic objectives for investment consultants and run a competitive tender for certain fiduciary management appointments, and a 10 December 2022 deadline to meet;
- a reminder of the need for all benefit statements issued on or after 1 October 2022 by DC schemes used for automatic enrolment to comply with new "simpler annual benefit statement" standards;
- the Department for Work and Pensions' consultation on new defined benefit scheme funding and investment regulations;
- the latest on pension scams and the 2021 transfers regulations;
- the latest on pensions dashboards; and
- new guides to help trustees to review cyber risk and improve cyber resilience.
To receive your copy of the Action Plan, please ask your usual Osborne Clarke contact.