Last month marked 10 years since the start of automatic enrolment (AE). In that time, AE has changed hearts and minds about pensions.
Continue readingAE has come a long way, but we all have further to go
Enforcement strategy, policies and procedures
It might just be me, but whenever you get something new, it can make you look at other stuff you have, and think about whether it needs fixing, refreshing, or replacing – or whether you need less of it or even need it at all and can throw it out altogether.
Continue readingMerger and acquisitions: company directors must help pension trustees protect savers
Our role is to protect pension savers, and we pay close attention to mergers and acquisitions involving UK companies which sponsor a DB scheme, particularly those which are highly leveraged.
Why it is important to keep asking questions about investment strategies
I heard it said, not so long ago, that TPR asks ‘silly’ questions. I’ll take the compliment, though I doubt one was intended. It’s one of the nice things about life here, that I get to ask questions. I’ve never (yet?) been so blunt as to ask: “Dear Trustees, what on earth were you thinking of when you set that investment strategy?” But it goes through my mind sometimes, based on pre-meeting paperwork.
Continue readingRefinancing in the current economic climate: our expectations of trustees and sponsoring employers
As much of the business world seeks to bounce back from the COVID pandemic, new macroeconomic challenges are presenting themselves that may make refinancing more challenging for sponsoring employers. In his latest blog, David Fairs considers the risks of refinancing to the employer covenant and the actions trustees and sponsoring employers should take to ensure member benefits are protected.
Continue readingJail terms alone won’t keep savers safe from scammers
The substantial jail terms secured against two fraudsters show how TPR and the courts will take tough action against pension scammers.
Continue readingReporting on climate: a challenge but an opportunity
Over the coming months we expect around 100 schemes to publish their first reports produced in line with the Climate Change Governance and Reporting Regulations.
Continue readingProtecting savers in 2022: disrupting crime, managing climate risk and embracing diversity
If the pandemic has shown us anything it’s that the future cannot be predicted with any certainty – nobody has that magical crystal ball.
However, come what may, we are committed to striving to ensure all pension savers are protected and the start of 2022 presents an opportunity to look forward to what the new year will bring to workplace pensions.
Continue readingWhy it’s time for trustees to Pension Wise up
Salt and pepper, strawberries and cream or gin and tonic, all natural bedfellows.
And new rules, set to come into force this year, aim to create a new partnership, one as synonymous as Laurel and Hardy, Cagney and Lacey, or Ant and Dec: accessing a pension and getting guidance.
Continue readingWhy trustee board meetings should be more uncomfortable
Earlier this year we set bold new ambitions to drive down inequality among savers and to create a fairer and more inclusive culture across the pensions industry.
Continue reading