Developments in Employee Benefits law and practice

29 October 2019

ACA 2019 pension trends survey

The Association of Consulting Actuaries has published research from its 2019 Pension Trends Survey. According to the survey, 64% of employers running DB pension schemes believe it will take more than two years to fully equalise pensions for the effects of Guaranteed Minimum Pensions in their pension schemes.

TPR updates s75 guidance for deferred debt arrangements

The Pensions Regulator (TPR) has revised its Multi-employer Schemes and Employer Departures Guidance so as to include information on the Deferred Debt Arrangement (DDA) option that employers may wish to consider, as an alternative to paying their ‘liability share’ when a section 75 debt is triggered in a multi-employer pension scheme.

TPR analyses of A-E

TPR has published the seventh and final edition of its Automatic Enrolment: Commentary and Analysis report. Covering the period 2012 to 2018, the research reveals that the proportion of UK employees in a workplace pension scheme rose from 55% to 87%. Also, the total amount saved by eligible savers increased by £16.8bn to £90.4bn.

TPR has also published results of a survey about employer awareness of intentions regarding and attitudes towards ongoing and future auto-enrolment duties. The results show that at least 91% of employers (micro, small and medium) were aware of ongoing duties in relation to automatic enrolment. 

Pension Schemes Bill: Briefing for Lords Stages

This House of Lords Library Briefing has been prepared in advance of the second reading in the House of Lords of the Pension Schemes Bill on 30 October 2019.

Brexit update

  • Boris Johnson won the backing of MPs for his Brexit deal, but MPs voted against his attempt to take Britain out of the EU on October 31.
  • European Council president Donald Tusk has proposed offering Mr Johnson a Brexit extension until January 31, but it has been reported that the prime minister would push for a general election rather than face further delays.
  • Sajid Javid has cancelled the proposed 6 November 2019 Budget.
Contact:

Julian Rowe | Policy, Professionalism & Research | email: Julian.Rowe@MERCER.com