For longer than we care to remember, our quarterly reports have seemed to focus on Brexit, or the lack of progress on pensions policies as a result of Brexit. How distant those times now feel. Yet, despite these even more uncertain times we find ourselves in, it is important to remember that at the end of the Covid-19 pandemic – and there will be an end – there will still be pension schemes, members, taxes, regulations and investments. So, let us continue to look forward, continue to plan, continue to take action, and continue to influence those things that we can control.
Spence have summarised the main issues across our industry in this report, highlighting any actions that trustees and sponsors may need to take. Clearly there is a focus on the impact Covid-19 is having on pension schemes, with articles addressing the latest guidance for trustees from the Pension Regulator and the investment market’s reaction.
Beyond the pandemic, the report also looks to other important matters, such as the progress of the Pensions Bill through the legislative process, the latest on the goliath GMP Equalisation issue and a summary of the Chancellor’s latest Budget, to name a few.
As always, we hope that this quarterly report can be of assistance and makes your lives that little bit easier, in these, the strangest of times. From everyone at Spence, stay safe and enjoy the read.