Our panel presented an introduction to the Government's proposed changes to the defined benefit pensions regime.
Whilst the introduction of certain criminal offences may be dominating headlines, the proposals are much more extensive and pave the way for a more heavily regulated regime going forwards.
We reviewed the proposals and the implications for sponsors and trustees of:
- the extension to the powers of the Pensions Regulator;
- raising the profile of pensions matters in boardroom decision making; and
- the scheme funding regime – defining prudence, focussing on the long term, and the risk of self sufficiency by the back door.
Primary legislation will be required to give effect to a number of the proposed changes. However others will require only secondary legislation or changes to the regulatory guidance and can therefore be expected to come into effect much sooner. Trustees and sponsors would therefore be well advised to understand the proposed changes to the landscape and how those changes might start impacting valuation and corporate activities underway now.
This webinar was chaired by partner Samantha Brown who was joined by speakers from our pensions team and by Wayne Segers, Head of Transaction Services at Xafinity Punter Southall.
If you would like to access the recording please contact us.