By Carl Stanford at BWCI carl.stanford@bwcigroup.com “scheme governance a key focus of the new code” What is expected to be the final version of the UK Pensions Regulator’s (TPR) “General Code of Practice” was published in January 2024. The pensions industry has been waiting for some considerable time for this document, with an earlier draft… Read More »
By Anthony Brewer at BWCI anothony.brewer@bwcigroup.com “removing all headline investment risks for a well-funded scheme does not guarantee success” As discussed in my previous article “Pension surpluses – what now?”, many Defined Benefit pension schemes are now in a strong funding position following a dramatic rise in interest rates in recent years. This has led… Read More »
By Anna Gray at BWCI anna.gray@bwcigroup.com “a range of sanctions, including in the most serious cases, substantial fines and imprisonment for criminal offences.” This is a summary only. Legal advice should be sought to understand the position in relation to any specific circumstances. The new duties on employers to auto-enrol staff into a pension scheme… Read More »
By Clair Le Poidevin at BWCI clair.lepoidevin@bwcigroup.com “a significant milestone in reforming the Solvency II framework” On 29 June the UK Prudential Regulation Authority (PRA) published a consultation paper (CP 12/23) on proposed changes to the Solvency II regime within the UK. The consultation is a significant milestone in reforming the Solvency II framework for the… Read More »
By John Martin (Please contact John on 01481 728432 or email john.martin@bwcigroup.com if you wish to discuss this article or anything relating to secondary pensions). The States of Guernsey have recently issued subordinate legislation in relation to Secondary pensions (“called the Secondary Pensions (Guernsey and Alderney) regulations, 2023”) and Statements of Practice which supplements The… Read More »