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Pensions Regulator announces changes to the DC scheme return for 2024
The Regulator has issued an online announcement about upcoming changes to its DC scheme return.
United Kingdom | Publication | June 2023
The Government has recognised “unlocking institutional investment”, particularly DC pension capital, as a long-term ambition and has announced “an ambitious life sciences package to support economic growth”.
It has now published a summary of responses to its March 2023 call for feedback on the Long-term Investment for Technology and Science (LIFTS) initiative, on which it is working with the British Business Bank (BBB). The objectives of the BBB are to unlock UK institutional investment, encourage investment into UK science and technology companies and to stimulate venture capital. In its development of the LIFTS project, the BBB has called for proposals from industry, with announcements of those to be taken forward expected in November 2023. The submission deadline for proposals is July 28, 2023.
The PLSA has also published a paper identifying measures to increase pension fund investment in UK growth.
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The Regulator has issued an online announcement about upcoming changes to its DC scheme return.
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On July 30, 2024, the Regulator published its market oversight report on how trustees are complying with their environmental, social and governance (ESG) duties, including in respect of climate change.
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We reported last month that the Court of Appeal had agreed with the High Court’s previous judgment that all rule amendments to contracted-out DB schemes between 1997 and 2013 require written actuarial certification. Three pensions professional bodies have now issued a joint statement on the effect of the ruling.
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