Compass Newsletters

Compass Newsletters

December 2017 issue of Compass

We start this month with a look at the new master trust authorisation regime, where the DWP is consulting on draft regulations to flesh out the way the new regime will be applied until 12 January 2018. This will be followed by the publication of a Code of Practice from the Regulator early in 2018, with the authorisation regime commencing on 1 October 2018.

Read more

November 2017 issue of Compass

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.

Read more

October 2017 issue of Compass

October continued the recent pattern of relatively quiet months in pensions and employee benefits. However, the pace is expected to pick up as we have the Budget on 22 November and the Pensions Minister has indicated that a number of important publications and consultations will take place over the winter.

Read more

September 2017 issue of Compass

As the football season restarts following a crazy transfer market, Children go ‘Back to school’ and those without children go on holiday, we know we are entering the season of mists and mellow fruitfulness. But putting poetry aside for a moment the world of pensions legislation and regulation continues to develop.

Read more

August 2017 issue of Compass

Amid a largely quiet August there have been a few developments of note. In particular, the Government’s commitment to ban pensions cold-calling, limit the statutory right to transfer to occupational schemes and make it harder for fraudsters to open new pension schemes. The Pensions Regulator is continuing with its theme to improve scheme governance by describing who would fall within the scope of a professional trustee and consequently is expected to work to a higher standard.

Read more

July 2017 issue of Compass

The big news story for July is the Government’s announcement that it intends to follow the Cridland Review’s recommendation and increase the State Pension age from age 67 to 68 between 2037 and 2039. Once legislated, this would bring forward the increase to age 68 by seven years based on the current timetable. Nevertheless, the timetable is not yet set in stone because there will be a further review based on the latest life expectancy figures before the legislation is made.

Read more

June 2017 issue of Compass

The Financial Conduct Authority (FCA) has announced plans to change the rules which apply to pension transfer advice, primarily for transfers from DB to DC pension schemes and the Pensions Regulator has made good progress over the future of the Hoover and British Steel pension schemes.

Read more

May 2017 issue of Compass

The Pensions Regulator has been busy working on enabling employers to meet their automatic enrolment duties but where an employer fails then the Regulator has been naming and shaming in an attempt to show that the issue can’t be ignored.

Read more

April 2017 issue of Compass

Two reports have been published by Sir John Cridland CBE and the Government Actuaries Department that will help inform the Government’s review of the State Pension age which is due this May, but may be delayed by the General Election.

Read more
intro

March 2017 issue of Compass

The Chancellor, Philip Hammond, delivered his first Spring Budget speech on 8 March 2017. There were few major surprises affecting employee benefits as the majority of announcements were made in the Autumn Statement last November.

Read more

February 2017 issue of Compass

The Government has published its eagerly-anticipated Green Paper on defined benefit (DB) pension schemes and is now canvassing views and seeking evidence on what are the best steps to take to ensure the security and sustainability of DB schemes. We look at the Government’s initial views and identify the areas that it is considering.

Read more

January 2017 issue of Compass

We have survived a busy 2016, Blue Monday, the inauguration of the 45th President of the USA and await article 50 being invoked. So what can we look forward to in pensions this year?

Read more