July 2011 The Pensions Regulator has published a response paper setting out their response to the feedback received to their discussion paper on enabling good member outcomes in work-based pensions provisions. External link
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…
29 June 2011 The United Kingdom Debt Management Office has launched a consultation aimed at exploring the viability of launching a CPI linked gilts issuance program. Prior to committing to this, the DMO wish to establish the level of investor appetite and commitment to this product, both in absolute terms and relative to the well established RPI-linked gilt program. The consultation closes on 22 September 2011. The consultation paper is obviously relevant in the context of recent discussions on CPI vs RPI indexation. It is very accessible but investors may also prefer to consult with advisers or with their bond…
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
21 June 2011 The Pensions Regulator has reported on standards of governance and administration in occupational schemes in its fifth governance survey. External link
16 June 2011 The International Accounting Standards Board IASB has announced that they have completed their project to improve the accounting for pensions and other benefits by issuing an amended version of IAS 19. These amendments, which are intended to apply for accounting periods starting 1 January 2013 : though they can be adopted sooner by companies : will add to the disclosure and transparency of information on defined benefits plans and will also mark the end of the ‘corridor treatment’ option which previously permitted the deferral of recognition of gains and losses. External link
