This page focuses on developments that will mainly affect and be of interest to corporate sponsors of pension schemes.

Pensions Hub

UK Pensions Briefing | Pensions Regulator publishes its Annual Funding Statement 2024 and Corporate Plan 2024-27 in “rapidly shifting” pensions market

UK Pensions Briefing | Pensions Regulator publishes its Annual Funding Statement 2024 and Corporate Plan 2024-27 in “rapidly shifting” pensions market

On April 24, 2024, the Regulator published its DB Funding Statement focussed on trustees of schemes with valuation dates between September 22, 2023, and September 21, 2024 (“Tranche 19” schemes).

United Kingdom | Publication | May 22, 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
Pensions Regulator issues its 2024 Annual Funding Statement for DB Schemes together with its Corporate Plan 2024-27

Pensions Regulator issues its 2024 Annual Funding Statement for DB Schemes together with its Corporate Plan 2024-27

The Regulator has issued its DB Funding Statement, which is aimed primarily at schemes with valuation dates between September 22, 2023, and September 21, 2024, or “Tranche 19 schemes”. However, the statement is also relevant for schemes which have been significantly impacted by the “changes in market conditions” in recent years, and therefore need to review their investment strategy.

United Kingdom | Publication | May 14, 2024
DB scheme funding: funding and investment strategy regulations now in force

DB scheme funding: funding and investment strategy regulations now in force

On April 6, 2024, the new DB scheme funding regulations came into force, setting out the revised DB funding framework which includes the requirement for schemes to have a funding and investment strategy.

United Kingdom | Publication | April 15, 2024
Work and Pensions Committee publishes report on DB schemes

Work and Pensions Committee publishes report on DB schemes

The Work and Pensions Committee has concluded in its long-awaited report that DB schemes remain of critical importance to both savers and the UK economy, despite a steady decline in scheme numbers over recent years.

United Kingdom | Publication | April 15, 2024
Statutory instrument reducing authorised surplus payments charge laid before Parliament

Statutory instrument reducing authorised surplus payments charge laid before Parliament

The Authorised Surplus Payments Charge (Variation of Rate) Order 2024 was laid before Parliament on March 11, 2024, and will amend the authorised surplus payments charge rate from 35 per cent to 25 per cent with effect from April 6, 2024.

United Kingdom | Publication | March 27, 2024
DWP publishes consultation on surplus extraction and public sector consolidator options for DB schemes

DWP publishes consultation on surplus extraction and public sector consolidator options for DB schemes

On February 23, 2024, the DWP published a consultation paper with proposals facilitating DB scheme surplus extraction and investment of scheme assets in the productive finance proposals outlined in the 2023 Mansion House speech. It also introduces the plan for a public consolidator vehicle operated by the PPF by 2026, which aims to be accessible to smaller, less well-funded schemes unable to secure an insurance buy-out.

United Kingdom | Publication | March 13, 2024
Regulator publishes blog on auto-enrolment

Regulator publishes blog on auto-enrolment

On March 4, 2024, the Regulator published a blog on auto-enrolment, announcing a more user-friendly “refreshed” site for employers declaring their compliance.

United Kingdom | Publication | March 13, 2024

Regulator’s report on impact of LDI crisis on DB pension schemes published by WPC

On February 7, 2024, the Work and Pensions Committee of the House of Commons published a lengthy report submitted by the Regulator on the impact DB schemes of the liability-driven investment (LDI) cri...

United Kingdom | Publication | February 26, 2024


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Lesley Browning
Lesley Browning
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Email
lesley.browning@nortonrosefulbright.com
T: +44 20 7444 2448 / +44 77 1030 3311
Shane O'Reilly
Shane O'Reilly
Partner
Email
shane.o'reilly@nortonrosefulbright.com
T: +44 (20) 74443895

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