Welcome to our latest Quarterly Report, which focuses on the key pension issues and industry developments in the last three months of 2019.
After almost three years of political debate and uncertainty, the UK is now entering a new era outside of the EU. As our investment report highlights, there was relief that a ‘no deal’ Brexit was avoided at the end of 2019, but schemes should continue to monitor their investment strategy throughout 2020.
Higher standards of governance, administration and a focus on data will remain high on the agenda this year, as evidenced in our articles on the Pensions Ombudsman and The Pensions Regulator.
Looking to the future, we summarise the main points of the Pension Schemes Bill (CDC schemes, new TPR powers and the Dashboard). Trustees should also be aware of changes required to their Statement of Investment Principles later this year, affecting both content and disclosure.
Our report also features news of the latest HMRC bulletins, the PPF levy for 2020/2021, mortality trends and the issue of ‘greenwashing’ in relation to ESG.
We have highlighted any action sponsors and trustees may need to take. Please contact your usual consultant if you need more details on any of the topics featured in this report or have any questions.