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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 | July 2023
On July 13, 2023, the Regulator published its annual report and accounts for 2022 to 2023, revealing that it met, or almost met, 19 out of 23 of its key performance indicators. Three of the four that were missed related to the DB funding code, the General Code and pensions dashboards, which all require legislative change.
The Regulator highlights its focus on trustee diversity and inclusion, and also the importance of the impact of climate change on their investment decisions.
The Regulator’s annual expenditure was £6.4m, which is within budget. Other achievements outlined in the report include assessing and authorising the UK’s first collective DC scheme and a new master trust and intervening in 22 per cent of schemes, an increase on last year’s 16 per cent.
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.
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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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