Benefits Hot Topics

Welcome to Benefits Hot Topics, your trusted source for the latest benefits news.

Each hot topic has a specific audience, so you can get the information that is relevant to you at a glance, whether you are a trustee of a DB or DC scheme, a HR Director or a Finance Director of a company with DB and DC arrangements.

Latest Benefits Hot Topics
Archive

Flexible use of defined contribution funds 

16 July 2010

Audience: Trustee issues DC, Trustee issues DB, Corporate HR issues DC

The Government has published a consultation paper on proposals to remove the requirement to purchase an annuity by age 75 and, in certain circumstances, to allow individuals to take more of their pension savings as a lump sum.

The Pensions Regulator revises transfer incentive guidance 

14 July 2010

Audience: Trustee issues DB, Corporate Finance issues DB, Corporate HR issues DB

The Pensions Regulator issued for consultation new Guidance on transfer incentives . A joint statement from the regulator and the Financial Services Authority (FSA) has also been published.

Switch to CPI for pensions indexation and revaluation 

8 July 2010

Audience: Trustee issues DB, Corporate Finance issues DB, Corporate HR issues DB

The Minister for Pensions has made a written statement on 8 July 2010 announcing that the measure for minimum increases to occupational pensions is to be switched to the Consumer Prices Index (CPI) from the Retail Prices Index (RPI). This follows the Chancellor of the Exchequer’s Budget announcement that public service pensions and State benefits would in future be increased this way

Overhaul of Europe’s pension system 

7 July 2010

Audience: Trustee issues DC, Trustee issues DB, Corporate Finance issues DC, Corporate Finance issues DB, Corporate HR issues DC, Corporate HR issues DB

The European Commission today published a Green Paper, the aim of which is to consider how best to help Member States deliver adequate, sustainable and safe pensions. The Paper considers both State and private pensions (irrespective of whether or not funded) and their complicated interaction with demographic and economic change.

Pensions Regulator consults on multi-employer scheme guidance 

2 July 2010

Audience: Trustee issues DB, Corporate Finance issues DB

The Regulator launched a consultation on guidance, aimed primarily at trustees, on multi-employer schemes – particularly matters relating to employer debt.

Next steps on auto-enrolment and increasing State Pension Age 

24 June 2010

Audience: Trustee issues DC, Trustee issues DB, Corporate Finance issues DC, Corporate Finance issues DB, Corporate HR issues DC, Corporate HR issues DB, Healthcare

The Department for Work and Pensions (DWP) announced today (24 June 2010) how it will approach making changes to the current legislation in respect of how and when to increase the State Pensions Age (SPA) to 66. In addition, it set out the scope of a review on how to implement automatic enrolment effectively.

Pensions Regulator issues statement on employer covenant 

9 June 2010

Audience: Trustee issues DB, Corporate Finance issues DB, Corporate HR issues DB

The Pensions Regulator has issued a statement for trustees of defined benefit schemes setting out its expectations of trustees in relation to employer covenant issues and outlining plans for guidance on this subject and on transfer incentives that it will issue for consultation in the coming weeks.

IASB Proposes Changes to IAS 19 as the Accounting for Retirement Plans Evolves 

29 April 2010

Audience: Trustee issues DB, Corporate Finance issues DB, Corporate HR issues DB

In a further step in the evolution of the accounting for retirement benefits, the International Accounting Standards Board (IASB) has issued its long-awaited Exposure Draft (ED) of proposed changes to IAS 19, Employee Benefits.

The Equality Act 2010 

13 April 2010

Audience: Trustee issues DC, Trustee issues DB, Corporate Finance issues DC, Corporate Finance issues DB, Corporate HR issues DC, Corporate HR issues DB, Healthecare issues

The Equality Bill completed its passage through the Houses of Parliament late on 7 April 2010 and has now received Royal Assent. The Equality Bill will now be known as The Equality Act 2010 (the Act).

Pensions Regulator comments on scheme funding and ETVs 

31 March 2010

Audience: Trustee issues DB, Corporate Finance issues DB and Corporate HR issues DB

On 30 March, the Pensions Regulator published its corporate plan for 2010-13. This includes new information on the regulator’s approach to scheme funding and to enhanced transfer value (ETV) exercises.

PPF Steering Group publishes paper on the future of the levy 

19 March 2010

Audience: All

The Pension Protection Fund published feedback from a Steering Group it established last year to consider the future of the PPF levy.

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