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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 | February 2024
The most recent Finance Bill, which sets out the legislation required to abolish the lifetime allowance, completed its House of Commons stages and had its first reading in the Lords on February 6, 2024. It is expected to complete all its Parliamentary stages by February 21, 2024.
Somewhat surprisingly, having said they would reverse the legislation if they won the next General Election, the Labour Party did not oppose the Bill in the House. The Opposition has, however, published a Plan for Financial Services which sets out in general terms only its intentions for an “in-Government pensions and retirement savings review”.
Publication
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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