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PA Northern Conference: TPR to consult on trustee guidance for DB surplus release later this year


By Paige Perrin

The Pensions Regulator (TPR) will consult on supporting guidance for trustees on defined benefit (DB) pension scheme surplus release later this year, TPR director of trusteeship, administration and DB supervision, David Walmsley, has confirmed.

Speaking at the Pensions Age Northern Conference, Walmsey highlighted the government’s recent announcement of a consultation on draft regulations that would allow trustees of well-funded DB pension schemes to release surplus funds to sponsoring employers


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Key aspects of pensions/IHT framework need ‘rethink' - SPP

The Society of Pension Professionals (SPP) has called on HMRC to rethink key aspects of its proposed inheritance tax (IHT) framework for pensions, arguing that it could place “unrealistic pressures” on pension schemes, and create delays and confusion for bereaved families

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PA Northern Conference: Dashboards will never be finished and need 'continuous improvement'

Pensions dashboards will never truly be finished and continuous improvement will be needed, Pensions Dashboards Programme (PDP) industry principal, Chris Curry, has said

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Pension saving 'plummets' when employees move to self-employment

More than three-quarters of people stop saving into a pension when they make the move from being employed to being self-employed, with younger people and those on lower incomes most likely to stop saving, analysis from the Institute of Fiscal Studies (IFS) has revealed

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Workers lack pension confidence despite employers’ efforts to educate

Over a third of employees (39 per cent) do not feel confident they are making the right decisions about their pensions, despite almost all employers believing their workers understand and value their workplace pensions, according to research from Cushon

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Exclusive: Pre-97 indexation reform set to push T&N Pension Scheme into PPF

The Turner & Newall (T&N) Retirement Benefits Scheme (1989) is expected to enter the Pension Protection Fund (PPF) after spending 20 years in assessment, due to upcoming changes to the lifeboat fund’s indexation rules

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TPR urges trustees to resist undue pressure from employers on DB surplus release

The Pensions Regulator (TPR) has warned trustees not to come under undue pressure from sponsoring employers over defined benefit (DB) surplus release decisions, as it issued new guidance on the forthcoming surplus flexibilities
FCA and TPR seek closer alignment on guided retirement and targeted support

The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have stressed the importance of closer regulatory alignment on retirement support reforms, arguing that guided retirement and targeted support should work together as part of a single member journey
Industry welcomes DB surplus reforms but warns trustees face difficult balancing act

Industry experts have broadly welcomed the Department for Work and Pensions' (DWP) consultation on defined benefit (DB) surplus release regulations, although several have warned that trustees will face complex decisions around member protections, governance and long-term funding security
DC now ‘dominating’ FTSE 350 companies’ pension spending as employer contributions fall

Companies in the FTSE 350 have seen their pension spending ‘conclusively’ shift away from defined benefit (DB) to defined contribution (DC) schemes, with DC now dominating firms’ outlay on pensions, a report from WTW has found

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FRC to develop actuarial guidance on new surplus release rules

The Financial Reporting Council (FRC) will develop technical actuarial guidance to support scheme actuaries in ensuring that defined benefit (DB) pension surplus release to employers meets legislative requirements
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