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27 Jul Anne-Marie Winton comments in The Actuary on the FRC’s investigation into pension scheme audit failures

Nearly half of audit inspections carried out by the Financial Reporting Council (FRC) in 2017/18 found problems in the way pension schemes’ valuations are reported. In a new report, the watchdog said valuations are made complex by the existence of multiple pension arrangements and risk transactions,...

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19 Jul Inadequate measures place pressure on pensions’ schemes

After several vigorous, public criticism of its failure to exercise its powers in high profile cases, the Pensions’ Regulator has its spotlight firmly trained on corporate activity and the impact it has on defined benefit pension schemes. That scrutiny is in addition to the Work...

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18 Jun Rosalind Connor comments in Pensions Expert on DWP’s defined benefit white paper

The Pensions Regulator is prepared to deploy tough new powers promised by the Department for Work and Pensions’ defined benefit white paper, although it admitted that there will be a high bar for beginning any criminal proceedings against sponsoring employers. Much of the technical difficulty in...

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13 Jun Anna Rogers comments in IPE on the House of Lords’ inquiry into scrapping the RPI as a measure of consumer inflation

The UK Parliament has begun an inquiry into whether the retail prices index (RPI) should be scrapped as a measure of consumer inflation, a move that the government has indicated could save employers up to £90bn (€102bn) in pension deficit contributions....

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11 May The real risk of ignoring letters from the Regulator

It’s Monday morning, and you get a letter postmarked “Brighton”, sent by Special Delivery. It’s not your birthday, so you are not sure what to expect. So you rip open the envelope and find that The Pensions Regulator (“TPR”) has given you notice under section...

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28 Mar The implications of pensions white paper

Businesses that have defined benefit pension schemes are long used to regulation. Ever since the Maxwell scandal, nearly 30 years ago, successive governments have dealt with the political fallout by passing yet more regulation around schemes and their employers, promising to ensure that businesses “do...

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26 Feb Anne-Marie Winton comments in Law360 on Barclays’ plan to re-house its pension scheme in a new investment banking arm

When Barclays becomes the first British bank to reveal in court how it will comply with new ring-fencing regulations, pension lawyers will look to how the bench reacts to the lender's controversial plan to house its pension scheme in its newly separated investment banking arm....

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