Court of Appeal ruling on judges and firefighters pensions to apply to all public sector schemes
The Government has confirmed that the Court of Appeal ruling, holding that changes made to judges and firefighters pensions were discriminatory on the grounds of age, applies to all public sectors pension schemes. A written response to the ruling, following the decision by the Supreme Court to deny the government an appeal, by Chief Secretary to the Treasury, Elizabeth Truss, states: “The court has found that those too far away from retirement age to qualify for ‘transitional protection’ have been unfairly discriminated against. As transitional protection was offered to members of all the main public service pension schemes, the government believes that the difference in treatment will need to be remedied across all those schemes”.
New re-enrolment tool launched by Pensions Regulator
TPR has launched a new online re-enrolment tool
to enable employers to re-enrol their staff into a workplace pension more simply. Director of Automatic Enrolment Darren Ryder said: “Our online re-enrolment tool will help employers continue to meet their legal duties so that staff continue to have the opportunity to save.”
Living through later life report
The Pensions Policy Institute (PPI) has published a report, sponsored by Age UK, the DWP, The People's Pension and WEALTH at Work looking at the variation in the experiences that older people may have in retirement, and how an individual's experience of retirement changes as they move through the three phases of later life identified by the PPI. The three phases are referred to as “the Independent Phase”, “the Decline Phase” and “the Dependent Phase”.
The report is the first in a series of two, with the second instalment of the research, which will examine how the Government and industry could better support individuals in achieving more positive later life outcomes, due to be published later in 2019.
Pensions Regulator annual report published
The Pensions Regulator has published its latest annual report and accounts.
This report explains the regulator’s activities and finances for the year 2018 to 2019.
Pensions Ombudsman report and accounts 2019/20
explains the activities and finances for the Pensions Ombudsman Service in 2018 to 2019.
TPAS annual report and accounts 2018-19
The Pensions Advisory Service annual report and accounts for 2018 to 2019 has been published and includes the service’s activities and finances for the year ending 31 March 2019.
TPR adds further master trust guidance
The Pensions Regulator has added a new document, “Additional systems and processes guidance for new master trusts”, to its Master trust authorisation: forms and guidance page.
The guidance is aimed at trustees of new master trusts who intend to use an external administration and investment platform. The Regulator advises that the guidance be considered alongside the requirements outlined in the Pension Schemes Act 2017, the Occupational Pension Schemes (Master Trusts) Regulations 2018 (SI 2018/983) and the Regulator’s Code of Practice 15.
Julian Rowe | Policy, Professionalism & Research | email: Julian.Rowe@MERCER.com