This page focuses on regulatory developments – how the Pensions Regulator and the Financial Conduct Authority are using their moral hazard and other powers, evolving expectations and guidance, areas of regulatory focus and future initiatives.

Pensions Hub

Tribunal holds no exceptional circumstances prevented Regulator from imposing penalty notice for failure to prepare chair’s statement

Tribunal holds no exceptional circumstances prevented Regulator from imposing penalty notice for failure to prepare chair’s statement

There is a legal requirement for trustees of DC schemes to prepare an annual governance statement, signed by the chair of trustees, within seven months of the end of each scheme year. This is referred to as the "chair's statement".

United Kingdom | Publication | June 27, 2024
Former BHS directors found liable for wrongful trading

Former BHS directors found liable for wrongful trading

Two former BHS directors, Lennart Henningson and Dominic Chandler, have been fined more than £18m following a High Court ruling that they had breached their fiduciary duties ahead of the company’s collapse in April 2016.

United Kingdom | Publication | June 27, 2024
The General Election and pensions policy

The General Election and pensions policy

Parliament was dissolved on May 30, 2024, with the General Election being held on July 4, 2024. As a result, much of the planned pensions legislation has been lost and it remains to be seen if the various bills will be reprised by the new Government.

United Kingdom | Publication | June 12, 2024
Pensions Regulator warns that

Pensions Regulator warns that "pensions schemes must get the basics right"

The Regulator’s Chief Executive has told the industry that schemes must get the basics right on data quality to deliver on key areas such as pensions dashboards and value for money.

United Kingdom | Publication | May 29, 2024
Draft Securitisation (Amendment) Regulations published

Draft Securitisation (Amendment) Regulations published

On April 22, 2024, draft Securitisation (Amendment) Regulations 2024 were published. They amend the Securitisation Regulations 2024 (made on January 29, 2024) which form part of HM Treasury’s programme to deliver a Smarter Regulatory Framework for financial services.

United Kingdom | Publication | May 14, 2024
HMRC publishes further guidance on LTA abolition in Newsletter 159

HMRC publishes further guidance on LTA abolition in Newsletter 159

On April 25, 2024, HMRC published the latest edition of its pension schemes newsletter.

United Kingdom | Publication | May 14, 2024
Abolition of the lifetime allowance: HMRC pension schemes newsletters 157 and 158

Abolition of the lifetime allowance: HMRC pension schemes newsletters 157 and 158

The lifetime allowance was abolished with effect from April 6, 2024. HMRC has published two newsletters on the topic, and also confirms that further minor technical changes are to be made in additional regulations later this year.

United Kingdom | Publication | April 15, 2024
Pensions Dashboards: FCA consults on regulatory framework for pensions dashboard service companies

Pensions Dashboards: FCA consults on regulatory framework for pensions dashboard service companies

The FCA has launched a consultation on new guidance to help companies understand the scope of the new regulated activity of operating a pensions dashboard service.

United Kingdom | Publication | April 15, 2024
Pensions Regulator shares findings from value for members compliance exercise

Pensions Regulator shares findings from value for members compliance exercise

Under the Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment) Regulations 2021, which came into force in October 2021, trustees of DC schemes with total assets of less than £100 million must carry out a value for members (VfM) assessment.

United Kingdom | Publication | March 27, 2024


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