Pensions

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Recent Articles

  •  
    08/02/2024
    United Kingdom

    Trustee Knowledge Update – November 2023 - January 2024

    Trustees of occupational pension schemes have a statutory duty to ensure that they have an adequate knowledge and understanding of the legal issues relevant to their scheme. They must also ensure that they are up to date with relevant changes in the law, which given the volume of pensions legislation and regulation and other demands on their time, can be difficult. With this in mind, our regular trustee knowledge update (“TKU”) is aimed specifically at pension scheme trustees, letting them know what has changed in the last quarter and how it might be relevant to them. It highlights...
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  •  
    30/01/2024
    United Kingdom

    Pensions Ombudsman Update - January 2024

    Welcome to the latest regular Pensions Ombudsman Update from the CMS Pensions Team. The Pensions Ombudsman resolves many cases every year which are not only important for the parties concerned, but can shape wider industry practice. However, the sheer volume of cases dealt with can make it hard to keep track of decisions on individual topics, and underlying trends. Our Updates are designed to help you to get to grips with the Ombudsman’s thinking.Please click here to view the Update.
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  •  
    10/01/2024
    United Kingdom

    TPR General Code of Practice - great expectations for good governance

    The long anticipated General Code of Practice from The Pensions Regulator has been laid before Parliament today, with an expected go-live date of 27 March 2024.The General Code replaces ten of the existing codes of practice (including those on DC governance, breach reporting, internal controls and trustee knowledge and understanding).Much of the content of the General Code reflects existing requirements and expectations of TPR and many schemes will already be meeting these standards. An overarching theme is the requirement for schemes to have an effective system of governance (‘ESOG’)...
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  •  
    22/11/2023
    United Kingdom

    Autumn Statement: a bumper day for pensions

    After a quiet King’s Speech for pensions, there was plenty of content to make up for it in today’s Autumn Statement, with the Chancellor of the Exchequer announcing a raft of new pension measures and consultations.  Whilst very little is changing immediately, trustees and employers will need to keep a close eye on the progress of these measures over the coming months.What did the Chancellor have to say?The Autumn Statement is designed to increase private sector investment by £20bn per year, and pension funds have a role to play. The Chancellor looked to build on this summer’s...
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  •  
    10/11/2023
    United Kingdom

    Trustee Knowledge Update – August-October 2023

    Trustees of occupational pension schemes have a statutory duty to ensure that they have an adequate knowledge and understanding of the legal issues relevant to their scheme. They must also ensure that they are up to date with relevant changes in the law, which given the volume of pensions legislation and regulation and other demands on their time, can be difficult. With this in mind, our regular trustee knowledge update (“TKU”) is aimed specifically at pension scheme trustees, letting them know what has changed in the last quarter and how it might be relevant to them. It highlights...
    Read more
  •  
    05/09/2023
    Oman

    The New Oman Social Protection Fund Law - Key Changes

    The Sultanate of Oman as a welfare state has for long operated under the old Public Authority for Social Insurance (PASI) Law (Royal Decree 72/9). Recently however, Oman has enacted the novel Social Protection Fund Law (SPFL) (Royal Decree 52/2023) in an attempt to enhance its social welfare framework by creating a single and unified social protection fund that improves financing and provides a wide range of benefits to workers and their families. This article provides an overview of some of the key aspects of the new law and compares it with its repealed predecessor, by highlighting the key impacts...
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