Spence Quarterly Report Q1 2022

by Andrew Kerrin   •  

Welcome to our first Quarterly Report of 2022, which includes a wide range of topics we hope will grab your attention. Our regular investment update has a particular focus on the Russian invasion of Ukraine and rising inflation. We summarise the recent Spring Statement, where perhaps for pensions no news was good news. And we ask the question, are you Pensions Dashboards ready?

Pension scheme governance is changing, so we’ve included a feature on the ‘new normal’ of ESoG and ORA, and we consider the issue of Cyber Risk, which should be on every trustee’s agenda. Our DC update covers Chair Statements, ‘stronger nudge’ regulations, simpler annual benefit statements and illiquid assets.

We’ve also included news of a recent court case around pension increase rules, a feature on updated mortality improvement and a roundup of Pensions Ombudsman rulings.

HMRC has recently issued its third GMPE newsletter with guidance on past transfers and conversion – we’ve summarised the key points.

And finally, in what looks like being a very busy year for pensions, we look at what’s coming up next.

From everyone at Spence, we hope you enjoy reading our report.

Please click on the image below to view the report or click here.

Further reading

What are the key take-aways for trustees and sponsors from TPR’s Annual Funding Statement?

by Rachel Graham   •  

When simple isn’t best

by Graeme Riddoch   •  

Good practice guidance for defined benefit (DB) transfers

by John Wilson   •  

More Insights?