Atkin trustees, actuaries, consultants & administrators

Current Issues - April 2017

TPR consults on trustee penalties: We have already witnessed TPR taking a harder line with Trustees and they are now consulting on taking a more structured approach with less leniency where there have been breaches. As a consequence we are likely to see more penalties and Trustees should therefore ensure that appropriate procedures are in place. There are detailed disclosure requirements and the associated legislation can be found at http://www.legislation.gov.uk/uksi/2013/2734/pdfs/uksi_20132734_en.pdf.

TPR issues investment guidance for DB trustees: Guidance has been published with a view to helping trustees to understand, manage and monitor their scheme’s investments, objectives and strategy. The guidance can be found at http://www.thepensionsregulator.gov.uk/guidance/db-investment.aspx

PPF Levy – Potential relief for small schemes: The PPF is considering ways in which smaller schemes could gain credit for matters that would help to reduce their levies. It has highlighted the examples of the certification of ‘deficit reduction contributions’ and ‘contingent assets’ as items where the cost of certification may be prohibitive. In many cases, whilst certification would result in a PPF levy reduction, this would be outweighed by the cost of the advice and certification. The proposals are currently under consultation and we are preparing a response and would be happy to include your comments.

Mortality improvements: Recent longevity assumptions published by the Continuous Mortality Investigation (CMI) show a continued slowdown in life expectancy. It has been suggested that the improvements reported between 2000 and 2010 may have been linked to higher health and social care spending during those years and that the recent downturn may be linked to lower spending following the financial crisis.

 

Filter By Category

Clear Search

View Points Archives
 

We enjoy working with the team at Atkin Trustees. They are easy to get along with and their technical expertise, coupled with a pragmatic approach, allows us to advise our mutual clients in a manner beneficial to all. The team draws on this wealth of experience to ensure clients get a first class service, provided in an efficient manner. This added value is something other larger organisations would struggle to provide.

Gavin Paul, Pinsent Masons