In the latest issue of our Pensions Bulletin, we focus on journey plans and integrated risk management plans in the light of the Pensions Regulator's draft code of practice on DB funding. The Bulletin also looks at some other recent developments, including the impact of same sex marriage on occupational pension schemes and HMRC’s recent announcement on changes to its VAT policy.
In our latest Pensions Bulletin, we examine two recent consultations from the Department for Work and Pensions which have thrown the spotlight on the gulf between defined benefit and defined contribution schemes and on the possibility of developing alternative ‘defined ambition’ designs to bridge the gap between them.
The Bulletin also looks at some other recent developments, including new disclosure of information regulations and guidance from the Pensions Regulator on asset-backed contributions.
We also flag key dates for your diary over the next quarter, including a breakfast briefing on 18 December on the Pensions Regulator’s consultation on a revised code of practice on defined benefit funding.
In our latest Pensions Bulletin, we examine the increased regulatory focus on defined contribution (DC) schemes, with a new code of practice from the Pensions Regulator for trust-based DC schemes, a DWP call for evidence on minimum DC quality standards and a review of scheme charging structures by the Office of Fair Trading.
The Bulletin also looks at some other recent developments, including a recent European case on the recovery of VAT and the appointment of a new PPF insolvency risk provider.
In addition, the Pensions Bulletin flags key dates for your diary over the next quarter, including some Punter Southall events.
Punter Southall’s response to the call for evidence on whether to introduce a new statutory objective for the Pensions Regulator.
What is the current position?
Actuarial valuations are undertaken based on market prices and yields on the date of the valuation. Assets are taken at market value and liabilities are priced using discount rates set with reference to gilts or other similar markets on the valuation date. Gilt yields have fallen significantly over recent years due in part to quantitative easing and this has led to widening deficits.
In this issue:
• Playing the waiting game• Playing the waiting game: speed read• Behind the scenes• Other recent developments• Publications round-up• Dates for your diary