1 December 2023
Finance Act 2004 as amended by Schedule 9 to the Finance Bill (Bill 14) 2023/24 This update includes a version of the Finance Act 2004 as amended by Schedule 9 to the Finance Bill (Bill 14) 2023/24. Please read the introductory Editorial Notes for an explanation of this document and how best to use it.
Income Tax (Earnings and Pensions) Act 2003 as amended by Schedule 9 to the Finance Bill (Bill 14) 2023/24 This update includes a version of the Income Tax (Earnings and Pensions) Act 2003 as amended by Schedule 9 to the Finance Bill (Bill 14) 2023/24. Please read the introductory Editorial Notes for an explanation of this document and how best to use it.
UK Parliament: Parliamentary Briefing Papers – Parliamentary Briefing Papers [parl briefing] New briefing paper: Benefits Uprating 2024/25 (CBP-9872)
HM Revenue & Customs: ROPS – Overseas Pensions: ROPS Notification List [rops] List dated 1 December with 22 schemes added and 4 removed
30 November 2023
Finance Bill 2023/24 [Bill 14] (29 November 2023) Only selected provisions of this Bill have been included in this document.
29 November 2023
House of Commons: Information & Awareness/Education/Pension Information (General) HC 259 – Defined Benefit Pensions with Liability Driven Investments: Government Response to Committee's Seventh Report of Session 2022-23
28 November 2023
SI 2023/1265 – The Occupational Pensions (Revaluation) Order 2023
HM Revenue & Customs: Directions – Directions Under Regulation 3 of the Income and Corporation Taxes (Electronic Communications) Regulations 2003 (SI 2003/282), as Those Regulations Apply by Virtue of Regulation 43 of the Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) (No 2) Regulations 2023 (SI 2023/912)
2023 Ch: ClientEarth v Shell (No 3) [Corporate governance - Litigation - Costs - Whether costs recoverable by successful party]
2023 ET: Jhuti v Royal Mail [Employment - Dismissal - Unfair dismissal - Compensation - Valuation of loss of pension rights and expectations]
27 November 2023
Eversheds Sutherland: Speedbrief 23 November 2023 – Autumn Statement Turbo Charges Pension Reforms
Government Actuary's Department: Technical Bulletins 24 November 2023 – Autumn Statement 2023: a GAD Technical Bulletin
The Pensions Regulator: Statements – Value for Money Framework and DWP's Master Trust Review
2023 Ch: ClientEarth v Shell [Investments - Minority shareholder - Derivative claims - Compliance with obligation to mitigate climate change risks - Whether directors in breach of corporate obligations - Whether court will direct change of company policy - Impact of foreign judgment - Whether negligence, default, breach of duty or breach of trust - Whether a prima facie case - Whether genuine effort to remedy bad faith by a director]
HM Revenue & Customs: Tax Information and Impact Notes (TIINs) July 2023 – Pension Schemes - Relief at Source Amendments Updated to reflect changes following the Office for Budget Responsibility November 2023 forecast.
24 November 2023
Department for Work and Pensions: Scheme Administration (Auto-enrolment) – Looking to the Future: Greater Member Security and Rebalancing Risk
Department for Work and Pensions: Pension Reform (Security in Retirement/Workplace Pension Reforms) – Helping Savers Understand Their Pension Choices: Supporting Individuals at the Point of Access: Consultation Response
Department for Work and Pensions/HM Treasury: Trusts, Trusteeship and Scheme Governance (Master Trusts) – Evolving the Regulatory Approach to Master Trusts
Department for Levelling Up, Housing & Communities (formerly Ministry of Housing, Communities & Local Government): Local Government (2023) – Local Government Pension Scheme (England and Wales): Next Steps on Investments - Government Response
23 November 2023
Department for Work and Pensions/HM Treasury: Trusts, Trusteeship and Scheme Governance (Trusteeship) – Government Response to 'Pension Trustee Skills, Capability and Culture: A Call for Evidence'
Department for Work and Pensions: Superfunds – Options for Defined Benefit Schemes - Government Response
Department for Work and Pensions: Trusts, Trusteeship and Scheme Governance (Master Trusts) – Trends in the Defined Contribution Trust-based Pensions Market: Analysing the Pensions Landscape and Consolidation in the DC Trust-based Pensions Market
22 November 2023
SI 2023/1237 – The Social Security (Widow's Benefit and Retirement Pensions) (Amendment) Regulations 2023
HM Revenue & Customs: Tax Information and Impact Notes (TIINs) November 2023 – Abolition of the Lifetime Allowance (LTA)
Pendragon: Pensions Reference Materials – Statistics and Other Information [stats] Link to 'Workplace pensions participation and savings trends: 2009 to 2022' added
21 November 2023
Barnett Waddingham: Current Issues in Pensions Financial Reporting – 30 September 2023
Norton Rose Fulbright: Commentary November 2023 – UK Pensions Briefing: The General Data Protection Regulation: Five Years On
20 November 2023
Allen & Overy LLP: What's New This Week 20 November 2023 – [Call for Evidence on Pension Scheme Clearing Exemption - TPR Blog Post on the Challenges of DC Decumulation]
2023 FTT (General Regulatory Chamber): Finishing Touches Cheltenham v TPR [Regulation - Fixed Penalty Notice - Automatic enrolment - Certificate of compliance - Duties delegated to accountant - Failure to file - Whether reasonable excuse]
2023 UT: Shah v TPR [The Pensions Regulator - Contribution Notice - Voluntary liquidation of plan sponsor - Whether directors liable for further contributions]
17 November 2023
2023 Ch: Cohen v O'Leary [Insolvency - Bankruptcy - Whether fraud or fraudulent breach of trust - Whether retrospective order can be made - Whether need for information about pension rules - Foreign pension schemes - Requirement to provide information about a foreign scheme]
2023 Ch: Trafalgar Multi Asset Trading Company v Hadley [Investments - Fraudulent investments - Liability of directors of asset manager - Whether conspiracy - Criminal or unlawful investment activity]
15 November 2023
CAS-71055-X2X7 – Mr R [CAS-71055-X2X7 ] Determinations from July 2023 can be found under "The Pensions Ombudsman" in the Table of Documents.
14 November 2023
Allen & Overy LLP: What's New This Week 13 November 2023 – [TPR Speech on DC Decumulation - King's Speech: No Significant Pensions Announcements]
CAS-74469-D5N8 – Mrs R [CAS-74469-D5N8] Determinations from May 2023 can be found under "The Pensions Ombudsman" in the Table of Documents.
Firefighters' Pensions England Scheme Advisory Board: FPS Bulletins No 74 – FPS Bulletin 74 - October 2023 [fpsbull74]
13 November 2023
Linklaters: Pensions Case Law Autumn 2023 – Pensions Case Law - Update: Autumn 2023
Pensions Policy Institute: PPI Briefing Note Number 136 – What is the Role of Engagement in Pensions?
TLT LLP: SIPP and SSAS Round-up Autumn 2023 – SIPP and SSAS Round-up - Autumn Edition 2023
HM Treasury: Financial Market Infrastructure (FMI) – Pension Fund Clearing Exemption: Call for Evidence
2023 KB: Hogan v Financial Ombudsman Service [Judicial review - Transfers - Whether transfer from defined benefit workplace scheme to self-invested personal pension was appropriate - Advice - Whether advice was appropriate - Ill-health pension]
Pendragon: – Spotlight on Pensions: A Guide to Pensions Practice [spotlight] Update includes new material on climate change, automatic enrolment developments, value for DC savers, the PMI's dashboards guide, TPR's general code, the launch of the PPF Trustmark and new guides published by the PLSA.
10 November 2023
Burges Salmon: Burges Salmon Legal Update 25 October 2023 – How to Implement the McCloud Remedy: A Guide to Key Resources for LGPS Funds and Their Administrators
Hymans Robertson: Current Issues November 2023 – [Levee en Masse - VAT a Palaver - Heads on Spikes on London Bridge - Spotlight on the 'S' in ESG - The (Regulator's) View from the Summit - Zen & the Art of Motorcycle Miscreance - Not at this Address: Postal Problems & Penalty Notices -SIPP Administrator Duped by Fraudster - Public Sector Update - HMRC Newsletters October 2023]
Norton Rose Fulbright: Commentary October 2023 – UK Pensions Briefing: The DWP's Independent Review of the Pensions Regulator
9 November 2023
XPS Pensions: XPS Insights October 2023 – PPF Slashes Levies Again to £100m But Warns They Will Not Go Lower
Home Office: Occupations (Firefighters' Pensions) – Retained Firefighters' Pensions: Proposed Changes to the Firefighters' Pension Scheme (England) Order 2006: Government Response
8 November 2023
XPS Pensions: XPS Insights October 2023 – Q4 2023 Outlook for Pension Scheme Trustees and Employers
7 November 2023
Allen & Overy LLP: What's New This Week 6 November 2023 – [TPO's First Decision on Transfer Regulations and Overseas Investment Flag - Economic Crime and Corporate Transparency Act and Ban on Corporate Directors - Court of Appeal Rules TPO not a 'Competent Court' for Purposes of Enforcing Set-off - TPR Speech on Delivering Investment Returns - Dashboards Update - TPR Report on Employer-related Investment Prosecution]
3 November 2023
The Pensions Regulator: Determination Notices 2023/24 8 August 2023 – Stuart James Garner - Determination Notice
The Pensions Regulator: Regulatory Intervention Reports October 2023 – Donington MC, Dominator 2012 and Commando 2012 Pension Schemes
2 November 2023
Department of Health and Social Care: Public Service Pensions (Consultations) – NHS Pension Scheme: Member Contributions Phase 2 and Miscellaneous Amendments
30 October 2023
Allen & Overy LLP: What's New This Week 30 October 2023 – [TPR Speech on Upcoming Priorities - Latest HMRC Newsletter - PPF Blog Post on Establishing a Public Sector Consolidator - Compact on 'High-growth Investment']
26 October 2023
HM Revenue & Customs: Newsletters (Pension Schemes Newsletters) October 2023 – Pension Schemes Newsletter 153 - October 2023 [psn153]
2023 FTT (Tax): Morgan Lloyd Trustees v HMRC [Tax - Taxation - Unauthorised payment charges - Scheme sanction charges - Loans - Valuation]
24 October 2023
Local Government Pensions Committee: LGPC Bulletin 242 – LGPC Bulletin 242 - September 2023 [lgpcbull242]
HM Revenue & Customs: Newsletters (Pension Schemes Newsletters) October 2023 – Newsletter on the Public Service Pensions Remedy - October 2023
2023 Ch: Brass Trustees v Goldstone (re Biwater) [Plan sponsor - Trustee application to wind-up sponsor - 'Blessing application' - Whether breach of duty to 'act as ordinary, reasonable and prudent trustees might act' - Part VIII claim]
23 October 2023
Allen & Overy LLP: What's New This Week 23 October 2023 – [TPR Blog Post on Pensions Dashboards Preparation - DWP Taskforce Consultation on Social Factors Guidance - PLSA Guides: Buy-ins/outs and CDI]
Cabinet Office: Public Sector Transfer Club PSTC 8 – The Public Sector Transfer Club - Memorandum by the Cabinet Office
SR 2023/178 – The Firefighters' Pension Schemes (Amendment) Regulations (Northern Ireland) 2023 Amendments made by these Regulations are included in this update.
19 October 2023
SR 2023/132 – The Health and Social Care Pension Schemes (Remediable Service) Regulations (Northern Ireland) 2023
18 October 2023
The Pensions Regulator: Regulatory Intervention Reports September 2023 – ExxonMobil Pension Plan
16 October 2023
Allen & Overy LLP: What's New This Week 16 October 2023 – [Public Service Discrimination Remedy: Guidance on Knock-on Impact for Private Sector Schemes - Pensions Dashboards: New Blog Post]
Norton Rose Fulbright: Commentary September 2023 – UK Pensions Briefing: Pensions Issues for Lenders to UK Companies
13 October 2023
Hymans Robertson: Current Issues October 2023 – [Expanding the Scope of Auto-Enrolment - PPF 2024/25 Levies: a New Low (Though Not as Low as They Could Be) - The Main Thing is Honesty - Challenge to Surplus-Return Plan Rejected - Room for Improvement: Regulator Gets Its Report Card - DWP Preserves Selected EU Legal Obligations - Tweaks to Tax Law When Insurers Hit Difficulties - Public Sector Round Up - PLSA Refreshes Divorce Charging Guide - HMRC Newsletters September 2023]
2023 Ch: British Broadcasting Corporation v BBC Pension Trust [Benefits - Future service - Defined benefits scheme - Whether trustees could reduce future service rights - Amendment powers - Proper purpose - Interpretation]
12 October 2023
The Pensions Regulator: Compliance and Enforcement Updates January-June 2023 – Compliance and Enforcement Bulletin January to June 2023
10 October 2023
2023 CA: McGaughey v Universities Superannuation Scheme [Derivative claim - Investments - Fossil fuels - Whether breach of fiduciary duty to fail to implement a plan to move away from investing in fossil fuels - Claim by members of the plan]
Income Tax (Earnings and Pensions) Act 2003 [itepa03] S 201 added after user request
9 October 2023
Allen & Overy LLP: What's New This Week 9 October 2023 – [DWP General Levy consultation - TPR issues first fine for climate change reporting failure - Guide on biodiversity and nature-related risk - ICO Consultation on Data Protection Fining Guidance]
Perspective Tips [tips] New tip relating to archived news and surveys
HM Revenue & Customs: HMRC Tax Manuals PTM010000 – Pensions Tax Manual [ptm] PTM091100, PTM100010, PTM107000 and PTM133300 updated on GOV.UK
6 October 2023
Firefighters' Pensions England Scheme Advisory Board: FPS Bulletins No 72 – FPS Bulletin 72 - August 2023 [fpsbull72]
SR 2023/149 – The Local Government Pension Scheme (Amendment No 2) Regulations (Northern Ireland) 2023 Amendments made by these Regulations are included this update
3 October 2023
Department for Work and Pensions: Taxation (General) – The Occupational and Personal Pension Schemes (General Levy) Regulations Review 2023
2 October 2023
Allen & Overy LLP: What's New This Week 2 October 2023 – [GMP Equalisation Communication Toolkit - TPR Issues First Climate Change Reporting Fine - UK-US Data Sharing Adequacy Regulations]
28 September 2023
Department of Health and Social Care: Public Service Pensions (Consultations) – McCloud Remedy Part 2: Proposed Changes to NHS Pension Scheme Regulations 2023 - Consultation Response
Department for Levelling Up, Housing & Communities (formerly Ministry of Housing, Communities & Local Government): Local Government (2023) – 'McCloud' Remedy in the LGPS - Supplementary Issues and Scheme Regulations: Government Response
27 September 2023
SI 2023/985 – The National Health Service Pension Schemes (Remediable Service) Regulations 2023 [nhs remediable (e/w)]
25 September 2023
Draft Regulations – The draft Pensions Act 2004 and the Equality Act 2010 (Amendment) (Equal Treatment by Occupational Pension Schemes) Regulations 2023 (September 2023)
Draft Regulations – The draft Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (September 2023)
Allen & Overy LLP: What's New This Week 25 September 2023 – [PLSA Updated Guidance on Charging for Information in Pension Sharing Cases - Updated TPR Guidance on Regulated Apportionment Arrangements - HMRC Managing Pension Schemes Service Newsletter - Act on Extension of Auto-enrolment - Regulations on PPF Compensation - Regulations on Same-sex Partners' Death Benefits and Opposite Sex Comparators for GMP Discrimination - DWP Review of TPR - Pensions Academy Online]
Department for Work and Pensions: Scheme Regulation (TPR/PPF) – Independent Review of The Pensions Regulator
(TPR)
22 September 2023
HM Revenue & Customs: Newsletters (Pension Schemes Newsletters) September 2023 – Managing Pension Schemes Service Newsletter - September 2023
2023 FTT (General Regulatory Chamber): My Warehouse v TPR [The Pensions Regulator - Fixed Penalty Notice - Compliance Notice - Auto-enrolment - Sanctions - Reasonable excuse - Re-declaration]
2023 FTT (General Regulatory Chamber): Pobl Bach v TPR [Auto-enrolment - Compliance Notice - Fixed Penalty Notice - Whether inappropriate or disproportionate]
21 September 2023
2023 Ch: Davies v Novatrust [Overseas pension - Taxation - Grossing-up of benefits - Meaning of grossing-up - Whether beneficiary is required to provide income information to trustee]
20 September 2023
18 September 2023
Allen & Overy LLP: What's New This Week 19 September 2023 – [International Data Transfers: Action May be Required - PPF Consultation on 2023/24 Levy Rules - TPR's New Approach to Working with Administrators - Pensions Academy Online]
The Pensions Regulator: Detailed Guidance: Funding and Investment – Regulated Apportionment Arrangements (RAA)
SI 2023/986 – The Firefighters' Pension Schemes (England) (Amendment) Order 2023 Amendments made by this Order are included in this update.
15 September 2023
Pension Protection Fund: Consultation Documents and Responses September 2023 – Levy Rules 2024/25 - Consultation Document
14 September 2023
SI 2023/961 – The Firefighters' Pensions (Remediable Service) (Wales) Regulations 2023 [fire remediable (w)]
SI 2023/952 – The National Health Service Pension Schemes (Partial Retirement etc) (Amendment) Regulations 2023 Amendments made by these Regulations are included in this update.
13 September 2023
SI 2023/972 – The Local Government Pension Scheme (Amendment) (No 3) Regulations 2023 Amendments made by these Regulations are included in this update.
12 September 2023
SI 2023/942 – The Public Service (Civil Servants and Others) Pensions (Remediable Service) Regulations 2023 [civil servants remediable]
11 September 2023
Allen & Overy LLP: What's New This Week 11 September 2023 – [HMRC Pensions Tax Manual Updates - MaPS Publishes Statistics on Pension Wise Service - ICO Guidance on Processing Workers' Health Information - Pensions Academy Online]
HM Treasury: Directions 30 August 2023 – The Public Service Pensions (Valuations and Employer Cost Cap) Directions 2023
8 September 2023
SI 2023/963 – The Civil Service (Other Crown Servants) Pension Scheme (Remediable Service) Regulations 2023 [civil serv other crown remediable]
SSI 2023/246 – The National Health Service Pension Schemes (Remediable Service) (Scotland) Regulations 2023 [nhs remediable (s)] Amendments made by these Regulations are included in this update.
1 September 2023
SSI 2023/240 – The Local Government Pension Scheme (Remediable Service) (Scotland) Regulations 2023 [lgps remediable (s)] Amendments made by these Regulations are included in this update
31 August 2023
SSI 2023/242 – The Firefighters' Pensions (Remediable Service) (Scotland) Regulations 2023 [fire remediable (s)]
SSI 2023/241 – The Teachers' Pensions (Remediable Service) (Scotland) Regulations 2023 [teachers remediable (s)]
SSI 2023/239 – The Police Pensions (Remediable Service) (Scotland) Regulations 2023 [police remediable (s)]
30 August 2023
XPS Pensions: XPS Insights August 2023 – DWP and HM Treasury Call for Evidence on Pension Trustee Capabilities
29 August 2023
Allen & Overy LLP: What's New This Week 29 August 2023 – [TPR Updates Guidance with New DC Investment Requirements - PPF Publishes Climate Change Report]
25 August 2023
The Pensions Regulator: Codes of Practice No 13 (Second Issue) – Governance and Administration of Occupational Trust-based Schemes Providing Money Purchase Benefits [tpr code 13] Introductory text preceding code updated on TPR website following changes to legislation
The Pensions Regulator: Detailed Guidance: Communications and Reporting – Communicating and Reporting: DC Schemes Reporting section updated on TPR website following changes to legislation
The Pensions Regulator: Detailed Guidance: Funding and Investment – DC Investment Governance Investment decisions and your statement of investment principles and Market developments updated on TPR website following changes to legislation
23 August 2023
Norton Rose Fulbright: Commentary August 2023 – UK Pensions Briefing: Update on the Implications of the Virgin Media Case - Where are we Now?
SI 2023/912 – The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) (No 2) Regulations 2023 Amendments made by these Regulations are included in this update
21 August 2023
Allen & Overy LLP: What's New This Week 21 August 2023 – [PASA guidance on DB benefit accuracy - Dashboards: reset update - TPR's scheme funding analysis 2023 - MaPS report on pensions scams]
HM Revenue & Customs: Newsletters (Pension Schemes Newsletters) August 2023 – Newsletter on the Public Service Pensions Remedy - August 2023
17 August 2023
Barnett Waddingham: Current Issues in Pensions Financial Reporting – 30 June 2023
2023 Ch: ClientEarth v Shell
15 August 2023
Pensions Administration Standards Association: Guidance - Data – Data into Defined Benefits
The Pensions Regulator: Detailed Guidance: DB Superfunds – DB Superfunds Guidance Updated on TPR website in August 2023
14 August 2023
Allen & Overy LLP: What's New This Week 14 August 2023 – [TPR Updates DB Superfunds Guidance for Providers and Employers/Trustees - Dashboards: Updated Guidance on Deferred Connection - TPO Member Factsheet on Incorrect Information]
The Pensions Regulator: Consultation Documents and Responses – Superfunds Engagement Response
The Pensions Regulator: Detailed Guidance: Funding and Investment – Superfund Guidance for Prospective Ceding Trustees and Employers Updated following guidance review, reflecting changes to the Gateway principles and minor clarificatory changes
11 August 2023
Eversheds Sutherland: Speedbrief 19 July 2023 – UK Government Proposals to Shake Up Pensions Industry
XPS Pensions: XPS Insights July 2023 – Q3 2023 Outlook for Pension Scheme Trustees and Employers
10 August 2023
Burges Salmon: Burges Salmon Legal Update 20 July 2023 – The Mansion House Reforms: Win-Win?
Norton Rose Fulbright: Commentary July 2023 – UK Pensions Briefing: Mansion House Proposals
9 August 2023
Department for Education: Occupations (Teachers' Pensions) – Teachers' Pensions Scheme: Transitional Protection Regulations - Government Consultation Response
Department for Work and Pensions: DWP Non-Statutory Guidance – Pensions Dashboards: Guidance On Deferred Connection The guidance and forms have been updated to reflect changes made by the Pensions Dashboards (Amendment) Regulations 2023, including introducing a
single connection deadline of 31 October 2026.
8 August 2023
Draft Regulations – The draft Firefighters' Pension Scheme (Wales) (Amendment) Order 2023 (July 2023)
The Pensions Ombudsman: Factsheets & Information – Incorrect Information
Firefighters' Pensions England Scheme Advisory Board: FPS Bulletins No 71 – FPS Bulletin 71 - July 2023 [fpsbull71]
Local Government Pensions Committee: LGPC Bulletin 240 – LGPC Bulletin 240 - July 2023 [lgpcbull240]
Cabinet Office: Public Service Pensions (Consultations) – Civil Service Pensions 2015 Remedy McCloud Consultation Response
Welsh Government: Occupations (Firefighters' Pensions) – Consultation on Pension Entitlements for Retained Firefighters 2023
7 August 2023
Allen & Overy LLP: What's New This Week 7 August 2023 – [High Court: Member 'Interests' Include Future Service Benefits - Upper Tribunal: Amount of Contribution Notices is not Limited to Loss Suffered - High Court Approves Trustee Decision to Seek Wind-up of Sponsors - Court of Appeal Considers SERPS and the Contracted-out Deduction - TPR Blog Post on Pension Industry Diversity and Inclusion]
3 August 2023
Home Office: Occupations (Firefighters' Pensions) – Public Service Pensions: the Firefighters' Pensions (Remediable Service) Regulations 2023 - McCloud / Sargeant Remedy: Phase Two (Retrospective) - Government Response
Home Office: Occupations (Police Pensions) – Public Service Pensions: Police Pensions (Remediable Service) Regulations 2023 - McCloud / Sargeant Remedy: Phase Two (Retrospective) - Government Response
1 August 2023
HM Revenue & Customs: Newsletters (Pension Schemes Newsletters) July 2023 – Pension Schemes Newsletter 152 - July 2023 [psn152]
31 July 2023
Allen & Overy LLP: What's New This Week 31 July 2023 – [TPR Blog Post: Schemes Should Encourage Mid-life MOTs - Court Case on Contracted-out Scheme Amendments: Update - Dashboards Amendment Regulations - PASA Updated Guidance on Dashboards Data Accuracy]
28 July 2023
XPS Pensions: XPS Insights July 2023 – What is in the Chancellor's Mansion House Reforms?
26 July 2023
SI 2023/871 – The Teachers' Pension Scheme (Remediable Service) Regulations 2023 [teachers remediable (e/w)]
Finance (No 2) Act 2023 [fa23(2)] Updated versions of FA2004 and other Acts as amended by ss 20-25, 33 and 348 of this Act are included in this update
25 July 2023
SI 2023/858 – The Pensions Dashboards (Amendment) Regulations 2023
Allen & Overy LLP: What's New This Week 24 July 2023 – [Draft Legislation on Abolition of LTA - Dashboards: Updated Guidance and FAQs - Draft Legislation on Securitisation Holdings - Draft Legislation on Relief at Source - HMRC Pension Schemes Newsletter]
24 July 2023
SI 2023/843 – The Firefighters' Pensions (Remediable Service) Regulations 2023 [fire remediable (e)]
SI 2023/831 – The Police Pensions (Remediable Service) Regulations 2023 [police remediable (e/w)]
20 July 2023
2023 Ch: Virgin Media v NTL Pension Trustees II The PBLR version of this judgment will be made available shortly.
19 July 2023
HM Revenue & Customs: Tax Information and Impact Notes (TIINs) July 2023 – Abolition of the Lifetime Allowance
18 July 2023
Hymans Robertson: Current Issues July 2023 – [Dashboards deadline recedes to October 2026 - Rule change without 'section 37 certificate' declared void - Inappropriate independent advice? - Government to consider tweaks to troublesome transfer rules - Commons Committee pushes for reassessment of funding reforms - Public-sector pensions update - DB Annual Funding Statement Analysis - Possible extension to PPF - HMRC newsletters: June 2023]
Linklaters: Pensions Case Law Summer 2023 – Pensions Case Law - Update: Summer 2023
Redington: The Defined Contrarian July 2023 – The Defined Contrarian: Q2 2023
17 July 2023
Department for Work and Pensions/Financial Conduct Authority/The Pensions Regulator: Value for Money – Government-Regulator Response to 'Value for Money: A Framework on Metrics, Standards and Disclosures' - Consultation Outcome (FCA paper FS23/3)
Department for Work and Pensions: Scheme Administration (Auto-enrolment) – Ending the Proliferation of Deferred Small Pots: Government Response to the Call for Evidence - 'Addressing the Challenge of Deferred Small Pots' and Public Consultation on Proposal to Resolve the Small Pots Issue
Department for Levelling Up, Housing & Communities (formerly Ministry of Housing, Communities & Local Government): Local Government (2023) – Local Government Pension Scheme (England and Wales): Next Steps on Investments
Department for Work and Pensions: Pension Reform (Security in Retirement/Workplace Pension Reforms) – Analysing the Impact of Private Pension Measures on Member Outcomes: Estimating the Impact of July 2023 Pension Package and Automatic Enrolment 2017 Review Measures on Member Outcomes
14 July 2023
Draft Regulations – The draft Local Government Pension Scheme (Scotland) (Transitional Protection Remedy) Regulations 2023 (June 2023)
Department for Work and Pensions/HM Treasury: Trusts, Trusteeship and Scheme Governance (Trusteeship) – Pension Trustee Skills, Capability, and Culture: A Call for Evidence
Scottish Public Pensions Agency: Local Government (2023) June 2023 – 2015 Remedy - Local Government Pension Scheme (Scotland)
13 July 2023
Department for Work and Pensions: Superfunds – Consolidation of Defined Benefit Pension Schemes: Government Response
Department for Work and Pensions: Pension Reform (Security in Retirement/Workplace Pension Reforms) – Helping Savers Understand Their Pension Choices
11 July 2023
House of Commons (October 2014 onwards): Written Statements 6 July 2023 – Armed Forces Pension Scheme and Firefighters' Pension Scheme: Adjustment in Respect of 2021 and 2022 Revaluation (6 July 2023)
Department for Work and Pensions: Collective Defined Contribution Pension Schemes – Extending Opportunities for Collective Defined Contribution Pension Schemes - Government Response
Department for Work and Pensions: Superfunds – Options for Defined Benefit Schemes: A Call for Evidence
10 July 2023
Allen & Overy LLP: What's New This Week 10 July 2023 – [TPR Launches Diversity and Inclusion Survey - Brexit Act Given Royal Assent - TPR Publishes DC Schemes Survey - HMRC Pension Schemes Newsletter]
House of Commons: Information & Awareness/Education/Pension Information (General) HC 826 – Defined Benefit Pensions with Liability Driven Investments: Seventh Report of Session 2022-23
Pension Protection Fund: Guidance - Factors (Commutation, Compensation Cap, Early Retirement, Late Retirement and Step-down) – Commutation Factors Actuarial factors from 1 October 2023. Late retirement factors, early retirement factors and step-down factors are also included in this update.
7 July 2023
Hymans Robertson: Current Issues June 2023 – [Public-sector pensions update - Call for evidence on DB auto-enrolment standards - Potential £250m 'lift' for DC investment innovation - Acknowledging the reality of the responsible-investment pachyderm - Data breach warnings - No Get-Out-Of-Jail-Free card for dashboards malfeasance - Regulatory blogging - HMRC newsletters: May 2023]
Local Government Pensions Committee: LGPC Bulletin 239 – LGPC Bulletin 239 - June 2023 [lgpcbull239]
4 July 2023
SI 2023/746 – The Public Service Pensions and Judicial Offices Act 2022 (Commencement No 2) Regulations 2023
3 July 2023
Allen & Overy LLP: What's New This Week 3 July 2023 – [Work and Pensions Committee Report on LDI - FCA Countdown to the Consumer Duty - More Pension Schemes Allowed to invest in Long Term Asset Funds]
HM Revenue & Customs: Newsletters (Pension Schemes Newsletters) June 2023 – Pension Schemes Newsletter 151 - June 2023 [psn151]
28 June 2023
HM Revenue & Customs: HMRC Guides – Guidance on the Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) (No 2) Regulations 2023
26 June 2023
Allen & Overy LLP: What's New This Week 26 June 2023 – [High Court: Lack of Actuarial Certificate Invalidated Contracted-out Scheme Rule Amendments - DWP Review of Transfer Flags Regulations - Dashboards Connection FAQs - PLSA Resources on Helping Members with Cost-of-living]
23 June 2023
2023 ET: McGrandle v Ministry of Justice [Limitation - Time-barred - Equal treatment - Discrimination - Concurrent litigation - Whether part-time judge's pension claim could be reinstated after being withdrawn four years earlier]
SSI 2023/190 – The Teachers' Superannuation and Pension Scheme (Miscellaneous Amendments) (Scotland) Regulations 2023 Amendments made by these Regulations are included in this update
Financial Reporting Council: Technical Memorandum TM1 Guidance (Version 5) – AS TM1: Statutory Money Purchase Illustrations: Version 5.0 Guidance Updated to provide further clarity on the circumstances in which the FRC expect paragraph C.2.15 (circumstances in which volatility cannot be determined reliably) to be applied and the application of paragraph C.3.12 (guaranteed annuity terms).
22 June 2023
Finance (No 2) Bill 2022/23 [HL Bill 149] (21 June 2023) Bill as brought from the Commons
Department for Work and Pensions: Information & Awareness/Education/Pension Information (General) – Review of the Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations 2021 (SI 2021/1237)
20 June 2023
2022 PO: Ms E (Allen SSAS) [Benefits - Beneficiaries - Nominated beneficiaries - Trustee discretion - Conflicts of interest of trustees - Trustee indemnity for breach of trust - Whether indemnity effective - Independent trustee duty to advise - Power of Pensions Ombudsman to exercise trustee discretion]
19 June 2023
Allen & Overy LLP: What's New This Week 19 June 2023 – [TPR Promotes Dashboards Data Preparation - TPR Updates Active Member Discounts Guidance - TPR Publishes 2023 Annual Funding Statement Analysis]
13 June 2023
Firefighters' Pensions England Scheme Advisory Board: FPS Bulletins No 69 – FPS Bulletin 69 - May 2023 [fpsbull69]
Pensions Administration Standards Association: Guidance - Dashboards – Dashboards Values Guidance
Ministry of Justice: Public Service Pensions (Costs) – Judicial Pension Scheme 2022 and the Cost Control Mechanism
12 June 2023
2023 USA: Hughes v Northwestern University [Investments - Fees - Whether reasonable - Extent of duty of proof - Fiduciary duty of prudence]
The Pensions Regulator: Trustees – Pensions Dashboards: Initial Guidance Updated to cover the new deadline and staging timeline for schemes to connect
The Pensions Regulator: Detailed Guidance: Governing Body – Value for DC Scheme Members New paragraph added to active member discounts
9 June 2023
Draft Regulations – The draft Pensions Dashboards (Amendment) Regulations 2023 (June 2023)
Pension Protection Fund: Guidance - Valuation Version 1 – Volatility Assumptions for Section 143 Guidance (B10 Onwards)
Department for Levelling Up, Housing & Communities (formerly Ministry of Housing, Communities & Local Government): Local Government (2023) – 'McCloud' Remedy in the LGPS - Supplementary Issues and Scheme Regulations
The Pensions Regulator: Regulatory and Enforcement Policies – Monetary Penalties Policy Updated to reflect changes to climate reporting requirements and master trust penalties
8 June 2023
House of Commons (October 2014 onwards): Written Statements 8 June 2023 – Pensions Dashboards Update (8 June 2023)
7 June 2023
Draft Regulations – The draft Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (May 2023)
6 June 2023
Allen & Overy LLP: What's New This Week 5 June 2023 – [HMRC Pension Schemes Newsletter - Tribunal: Fines for AE Non-compliance Upheld]
2 June 2023
Barnett Waddingham: Current Issues in Pensions Financial Reporting – 31 March 2023
Norton Rose Fulbright: Commentary May 2023 – UK Pensions Briefing: A "full and ambitious agenda": Busy Pensions Regulator Publishes its Annual DB Funding Statement and Corporate Plan
1 June 2023
XPS Pensions: XPS Insights May 2023 – The Pensions Regulator Publishes Guidance to Boost Equality, Diversity and Inclusion Across Trustee Boards
Local Government Pensions Committee: LGPC Bulletin 238 – LGPC Bulletin 238 - May 2023 [lgpcbull238]
HM Revenue & Customs: Newsletters (Pension Schemes Newsletters) May 2023 – Pension Schemes Newsletter 150 - May 2023 [psn150]
