Publication
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.
Australia | Publication | May 2021
This article was co-authored with Ann Matthias.
The extension to construction working hours implemented by the NSW Government last year in response to the COVID-19 pandemic will be revoked on 7 June 2021. The extension, which was enacted via the Environmental Planning and Assessment (COVID-19 Development – Construction Work Days) Order 2020 (NSW), permitted all building work and demolition work subject to a development consent to be carried out on a Saturday, Sunday or public holiday without the need for approval (subject to conditions). The revocation of the extension means that construction working hours will return to their pre-pandemic settings; contractors will need to comply with conditions on the development consent that restrict the hours of work on a Saturday, Sunday or public holiday, or seek approval under the Environmental Planning and Assessment Act 1979 (NSW) for any change to those hours.
This reverses the previous extension up to 31 March 2022 that was introduced via the COVID-19 Recovery Act 2021 (NSW) (see our update on this here).
We note that the revocation does not apply to the Environmental Planning and Assessment (COVID-19 Development—Infrastructure Construction Work Days No. 2) Order 2020 (NSW) which applies to infrastructure work that is subject to:
Subject to any further changes by the NSW Government, the extended infrastructure working hours will continue to apply until 31 March 2022.
Publication
The Regulator has issued an online announcement about upcoming changes to its DC scheme return.
Publication
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.
Publication
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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