This evening, Treasurer Jim Chalmers announced the 2024-2025 Australian Federal Budget (the Budget). The centrepiece of the Budget is the very significant support given to various energy transition measures...

On January 29, 2024, the DWP published its long-awaited consultation response to the 2022 consultation on the Occupational Pension Scheme (Funding and Investment Strategy and Amendment)...

The world continues to wait on the Japanese Ministry of Economy, Trade and Industry (METI) for the support the hydrogen/ammonia sector needs to kick-start the industry...

It's great to see the UK government came good on the promise in its recent response to the "call for evidence" on the NSI regime that it would publish new market guidance in May...

On 11 March 2024, the Parker Review Committee published its latest update report on ethnic minority representation at board level and in senior management at FTSE 350 companies...

The Pensions Regulator's updated employer covenant guidance, effective November 12, 2024, helps trustees assess employer obligations, cash flow, and scheme recovery plans. It emphasizes ensuring employer support aligns with risk profiles and requires adapting assessments, especially after significant funding changes...

The King's Speech announced plans for a new pensions Bill addressing small pension pot consolidation, a value-for-money framework, guided retirement products, defined benefit consolidation, Ombudsman authority, and earlier lump sum payments for terminal illness.

The October 2024 UK Budget introduces inheritance tax on unused pension funds and death benefits from April 2027, removes the overseas pension transfer charge exemption for the EEA, and maintains the triple lock with a 4.1% State Pension increase.

The PPF updated its 2010 guidance on modifying onerous contract terms, stating it will assess contracts during the employer insolvency process. While it hasn't yet exercised its powers to disclaim onerous terms, it will evaluate contracts for unfairness. The PPF's financial position remains strong, with assets of £32bn and liabilities of £19bn, leading to calls for a reduction of the risk-based levy on pension schemes.

In addition to the 9th progress update report published by the Pensions Dashboards Programme, there have been further publications in relation to the dashboards regime.

The Pensions Ombudsman reported a 53% rise in complaints, addressing the surge with mandatory internal dispute resolution procedures, expedited decision-making for clear cases, specialist teams for complex issues, and a "lead case" approach for systemic complaints.

On January 10, 2024, the Regulator confirmed that its long-awaited new General Code had been finalised and laid before Parliament. It should come into force on March 27, 2024.

The Pensions (Special Rules for End of Life) Bill 2023-24 is a Private Members' Bill, which was presented to Parliament through the ballot procedure by Laurence Robertson MP on December 6, 2023.

The general submission deadline for taking action to minimise the 2024/25 PPF levy is midnight on March 31, 2024. Schemes should note that this is Easter Sunday and the Friday before is a bank holiday...

The Pensions Regulator's final Fast Track tests emphasize prudent funding, low dependency calculations, and tailored approaches, urging trustees to assess scheme suitability and legislative compliance for sustainable pension funding.

The Pensions Regulator's new compliance policy for CDC schemes prioritizes investment governance, data quality, and trustee oversight, with annual reviews and evolving supervision based on scheme risk.

In her first Mansion House speech, Chancellor Rachel Reeves outlined reforms to improve the Financial Ombudsman Service's efficiency and collaboration with the FCA. The industry welcomes these changes, aimed at creating a predictable redress process and reducing regulatory burdens. While maintaining robust consumer protections, the reforms intend to streamline procedures for assessing fit and proper standards for financial staff, addressing concerns over compliance bureaucracy without compromisi

There has been much discussion over the last few weeks about the plans of the major parties. But as we approach the day of the general election what will happen in the days...

The Court of Appeal has ruled that all rule amendments to contracted-out DB schemes between 1997 and 2013 do need written actuarial confirmation that the reference scheme test continues to be satisfied.

The Litigation Funding Agreements (Enforceability) Bill continued its journey through the Lords on Tuesday with its Second Reading.