Welcome to the November 2017 issue of Compass
Compass provides commentary and analysis of recent legislative and regulatory developments affecting pensions and employee benefits.
The first Autumn Budget for 20 years proved to be a very quiet one from the employee benefits and pensions perspective while containing welcome news for many first-time home buyers. The lack of large scale changes will come as a relief to many in the industry especially as there was much speculation prior to the Budget that tax relief on pensions was due to be cut.
In our second article we review how the Regulator is looking to engage with Trustees on data quality. Data is a key component of administration efficiency and accuracy, member engagement and liability management and it is no surprise that the Regulator wants to drive this message home.
The DWP has an aim of encouraging further consolidation of DC pension schemes and to facilitate this they are now looking to finalise amendments to legislation around bulk transfers between DC schemes where the members haven’t provided their consent. These proposals are out for consultation with the final legislation expected to be in place for next April.
Elsewhere in Compass we cover:
A DWP consultation on disclosing charges, costs and investments to DC members
The announcement that the charge cap will not be changed - for now at least
A consultation on PPF Contingent Asset agreements
A round up of other employee benefits news.
If you have any questions regarding the topics covered, please email: firstname.lastname@example.org