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ARTICLE · 11 DECEMBER 2023

UK Pensions Headlines: December 2023

The Pensions Regulator (TPR) has published additional information and resources to help prepare for completion of DB and hybrid scheme returns in 2024.

United KingdomEmployment and HR

DB and hybrid scheme returns

The Pensions Regulator (TPR) has published additional information and resources to help prepare for completion of DB and hybrid scheme returns in 2024. The return will be in one part (in the previous scheme return for completion in early 2023, additional questions were issued using a separate online form) and will include new questions requesting information about fiduciary managers and investment consultancy providers. TPR will issue return notices from the end of January and they must be submitted using the online Exchange system by 31 March 2024.

WTW comment

With effect from 1 October 2022, TPR took over responsibility for monitoring compliance with the requirements from the Competition and Markets Authority regarding fiduciary manager tenders and setting/reviewing objectives for investment consultancies. As such, we had expected new questions to be included in the 2023 scheme return but, in December 2022, TPR advised that they

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