Pensions News - Buckconsultants.com

Pensions News – April 2013Table of Contents1. Recently implemented changes .............................................. 11) Automatic enrolment ................................................................................. 12) Pension incentive exercises ...................................................................... 13) Partial refunds of member contributions .................................................... 24) Industry code of practice on pension charges ........................................... 25) Miscellaneous amendments to defined benefit legislation ......................... 32. Forthcoming legislative and other changes............................. 41) Reductions on the lifetime and annual allowances .................................... 42) Consultation on simplifying the process of automatic enrolment ................ 53) Consultation on changes to the TUPE requirements for pensions.............. 54) Consultation on consolidated disclosure of information regulations ........... 65) Consultation on GMP equalisation ............................................................ 66) Reform of the State Pension system ......................................................... 67) Call for evidence on NEST restrictions ...................................................... 78) Consultation on changes to NEST ............................................................ 79) Considering the potential impact on pension schemes of a takeover ......... 83. Other current issues ............................................................... 91) Reinvigorating workplace pensions ........................................................... 92) DWP consultations concerning the Pensions Regulator ............................ 93) OFT investigation into DC schemes ........................................................ 104) Pensions liberation ................................................................................. 115) No change to the Retail Prices Index ...................................................... 116) Improving transfers and dealing with small DC pension pots ................... 117) Solvency II/IORP Directive ...................................................................... 128) NAPF Annual Survey 2012 ..................................................................... 124. Recent Pensions Regulator publications .............................. 131) Consultations ......................................................................................... 132) Definitive guidance ................................................................................. 145. Recent Pension Protection Fund (PPF) publications ............ 161) Definitive guidance ................................................................................. 16Appendix – Summary of recent and impending changes ............. 18