Here we look at the big picture trends in the world of pensions, including important case law developments and industry initiatives.

Pensions Hub

Pensions Dashboards Programme publishes latest progress update

Pensions Dashboards Programme publishes latest progress update

On November 2, 2023, the Pensions Dashboards Programme published its eighth progress update report, which looks at the period since April 2023. The report confirms that the PDP will be looking to engage with the industry on dashboards connection guidance in autumn 2023, with further engagement on the dashboards standards set to take place over winter 2023/24.

United Kingdom | Publication | November 13, 2023
UK Pensions Briefing | The DWP’s Independent Review of the Pensions Regulator

UK Pensions Briefing | The DWP’s Independent Review of the Pensions Regulator

On September 19, 2023, the DWP published its Independent Review of the Pensions Regulator as a non-departmental public body sponsored by the DWP. Led by Mary Starks, a former chief economist at the FCA, the report concludes that the Regulator is “broadly well-run and well-regarded”, with a majority (71 per cent) of stakeholders surveyed in 2022 rating the Regulator’s overall performance as “good” or “very good”. It is recognised that the Regulator has performed well against a difficult backdrop of pensions industry changes, the uncertain global climate and general economic instability. Since the previous review in 2019, the report notes that all previous recommendations have since been implemented except one – that DWP should consider extending the rule-making powers of the Regulator.

United Kingdom | Publication | October 17, 2023
GMP easy toolkit to assist with member communications on GMPs

GMP easy toolkit to assist with member communications on GMPs

A toolkit has been developed by Quietroom and a consortium of the UK’s largest defined benefit pension schemes to help pension schemes members better understand Guaranteed Minimum Pensions (GMP) and GMP equalisation.

United Kingdom | Publication | October 11, 2023
Briefing paper on GMP Equalisation

Briefing paper on GMP Equalisation

On September 21, 2023, the House of Commons Library published a research briefing paper on Guaranteed Minimum Pensions (GMPs) equalisation. The briefing paper is a useful reminder and covers three main areas:

United Kingdom | Publication | October 11, 2023
DWP launches public consultation on proposed changes to General Levy

DWP launches public consultation on proposed changes to General Levy

On October 2, 2023, the DWP launched a public consultation on the proposed changes to the structure and rates of the General Levy on registrable occupational and personal pension schemes.

United Kingdom | Publication | October 11, 2023
Pension SuperFund to wind down after failing to secure regulatory authorisation

Pension SuperFund to wind down after failing to secure regulatory authorisation

Edi Truell, founder of private equity group Disruptive Capital, is winding down the Pension SuperFund, a commercial pension consolidator, after failing to get regulatory approval for the business.

United Kingdom | Publication | September 27, 2023
Autumn Statement to be November 22, 2023

Autumn Statement to be November 22, 2023

On September 5, 2023, the Chancellor of the Exchequer, Jeremy Hunt, announced that he will present the 2023 Autumn Statement to Parliament on Wednesday November 22, 2023. HM Treasury also confirmed that the Autumn Statement will be accompanied by an Office for Budget Responsibility forecast.

United Kingdom | Publication | September 14, 2023
New Shadow Pensions Minister appointed

New Shadow Pensions Minister appointed

The Labour party has announced that Gill Furniss, MP for Sheffield Brightside and Hillsborough, has been appointed as the new Shadow Pensions Minister following the Shadow Cabinet reshuffle.

United Kingdom | Publication | September 14, 2023
An industry divided: What pensions professionals do not agree on

An industry divided: What pensions professionals do not agree on

The Norton Rose Fulbright pensions team surveyed those attending its latest webinar on four of the topics under discussion. We thought the outcome of the votes was interesting enough to share.

United Kingdom | Publication | August 03, 2023


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