Employment and pensions
UK Pensions Action Plan Q2 2023
Published on 3rd Feb 2023
What pensions law changes and proposals over the last quarter do employers and trustees need to respond to this year?
The Action Plan Q2 2023 is a summary of changes and proposals in UK pensions law and regulation over the last quarter, which employers and trustees need to respond to now or in the coming year.
Topics addressed in this edition include:
- The Pensions Regulator's second defined benefit funding consultation.
- Suggested actions for trustees and employers in response to current economic conditions – rising living costs, changing market conditions and the increased scam risk faced by members.
- An update on liability-driven investment.
- New "disclose and explain" requirements for defined contribution (and collective defined contribution) schemes around investment in illiquid assets (including for those schemes that do not invest in illiquids) and new rules around performance fees.
- The latest on pensions dashboards.
- The Retained EU Law (Revocation and Reform) Bill.
- An important decision on the relationship between ill health retirement and the employer's duty to make reasonable adjustments for disability.
To receive your copy of the Action Plan, please ask your usual Osborne Clarke contact.
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