21st Century Trusteeship and Governance – Pensions Regulator discussion paper

24 August 2016 The Pensions Regulator has issued a discussion paper titled “21st Century Trusteeship and Governance” which continues engagement with the pensions industry in considering how best to support trustees in fulfilling their responsibilities and improving beneficiary outcomes. The paper highlights key findings and challenges from the Regulator’s research into the work of trustees, and poses thirteen key questions to shape future policy decisions. The questions are wide ranging, covering: the role of professional trustee, the role of the chair, the challenge for new trustees and trustee knowledge and understanding, minimum competence and continuous personal development, conflicts of interest,…

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Auto Enrolment – 2015 review of thresholds

1 February 2015 I last wrote about the auto enrolment thresholds at the end of 2012.1 Since then, the auto enrolment staging process has progressively unfolded and, as at the time of writing, smaller employers with just 50-60 workers are in the process of implementation. Whilst staging will continue for some considerable time, it is fair to say that auto enrolment should now be just as embedded in the thinking of smaller and mid-size as well as larger companies. One aspect that seems to be getting little coverage – though some of the trades unions and other commentators have highlighted…

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The Pensions Governance Index: a joint initiative

28 March 2013 Three influential pension schemes (Royal Mail, Telent and SAUL) have combined to develop a project aimed at a survey of pensions governance arrangements and the consequent internal and advisory costs incurred in performing this function. The exercise is sponsored by Russell Investments. To this end, they have published a questionnaire on a joint website: www.pensionsgovernanceindex.com and are inviting other schemes to download, complete and return this to extend the reach of the research universe.

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Incentive Exercises for Pensions : A Code of Good Practice

12 July 2012 A Code of Practice (produced by a broad industry Working Group with Government support: www.incentiveexercises.org.uk) has been released on Incentive Exercises for Pensions. Whilst the Code is voluntary in nature the Minister of Pensions, Steve Webb, has stated that he “expects all employers to voluntarily follow the Code” but does not rule out future legislation in this area though it is hoped that this is not necessary.

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Department of Work and Pensions : Auto enrolment: inclusion of qualifying career average schemes

5 May 2012 The Department of Work and Pensions has proposed that the provisions of the 2010 Auto-Enrolment regulations be amended to permit the inclusion of career average salary schemes under the qualifying scheme umbrella for auto enrolment. This is subject to the scheme providing that accrued rights should benefit from revaluation at or above CPI or 2.5% per year at any time that pensionable service is continuing (protection of rights after leaving service already being protected). The DWP is consulting on this amendment, with responses required by 11 June. External link

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  • Author: Martin Veasey
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