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.
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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.
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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.
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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.
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The underpinning principle of our revised DB Funding Code is that schemes should have the necessary long-term funding approach to ensure savers have the best chance of receiving the benefits they expect.
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The Productive Finance Working Group has now published its final report: A Roadmap for increasing investment in Productive Finance Investments (bankofengland.co.uk – PDF, opens in a new tab). We welcome the report and the approach taken to try to unlock current barriers, structural and practical, to long term investment, particularly in the DC market.
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The risks and opportunities arising from climate-related change are an area of increasing focus for pension trustees. But what can trustees really do given the scale of the challenge. David Fairs, The Pensions Regulator’s Executive Director of Regulatory Policy, Analysis and Advice explains how schemes can and must make a difference in the transition to a net zero economy.
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Clear, quick, tough. That’s the regulator we have worked hard to become, and the new powers awarded to us under the Pension Schemes Act 2021 support that approach as we all strive to make pensions safer, better and greener.
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With the Pension Schemes Bill receiving Royal Assent, David Fairs, The Pensions Regulator’s Executive Director of Regulatory Policy, Analysis and Advice, takes a whistle-stop tour of the new law and why it’s a watershed moment in TPR’s mission to protect savers.
