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ARTICLE · 05 JANUARY 2021

Pensions In 2021 – Key Trends And Developments For Trustees And Sponsoring Employers

Gowling WLG
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Brexit and COVID-19 have meant that 'business as usual' has been delayed in the world of pensions legislation, regulation and policy.

CanadaEmployment and HR
Ian Chapman-Curry
Ian Chapman-Curry
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Brexit and COVID-19 have meant that 'business as usual' has been delayed in the world of pensions legislation, regulation and policy. As a result, 2021 looks set to be a very busy year, with projects held over from 2018, 2019 and 2020 being set to launch. In this roundup, we highlight the ten key developments that will impact on the pensions industry in 2021.

1. Getting to grips with the Pension Schemes Act 2021 

In December 2019, the Pension Schemes Bill 2019 – 20 fell when Parliament was dissolved ahead of the general election. Its replacement, the Pension Schemes Bill 2019 – 21 (the Bill), was promptly introduced in the new Parliament the following month. The Bill has now completed all but one stage on its progress towards becoming an Act of Parliament. The government intended for the Bill to be passed at the end of 2020. This goal was missed, meaning the Bill is now likely to become law in the first quarter of 2021.

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