25 November 2011 Following its previous consultation, the Pension Protection Fund has produced draft Contingent Asset guidance which will ultimately sit alongside the final 2012/13 Determination pack. External link
28 July 2011 The Pensions Regulator has today published a statement, “Identifying your statutory employer”, to help trustees understand the importance of identifying their scheme’s statutory employer and how they should set about doing this. External link Commentary Why is this important? The statutory employer is legally responsible for meeting the funding requirements of a defined benefit scheme and paying s75 debt if certain events occur. The fate of the statutory employer is also relevant in triggering any future entry into the Pension Protection Fund. For many schemes, particularly those running (or who may run) a funding deficit, the “asset”…
June 2011 The Pensions Regulator has published “Recovery Plans : Scheme funding and other security arrangements” which provides an analysis of DB scheme recovery plans (valuation dates up to end September 2009) submitted to TPR before February 2011. This provides useful information on the funding level of this cohort plans and some ongoing timeline comparators as a large number of schemes had also submitted prior plans which had been included in an earlier report. Also interesting is the discussion on the increased prevalence of the use of contingent assets, often coupled with longer recovery periods, particularly for some of the…
28 June 2011 The Department of Work and Pensions is consulting on new draft regulations on employer debt – The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2011. External link
