Pensions Weekly Update – 4 December 2024

Here is our weekly summary of key legal and regulatory developments relevant to occupational pension schemes that you might have missed, with links for further information.

• The Pensions Administration Standards Association (PASA) has published new guidance on data scoring aiming to improve standards and encourage consistent approaches. Fiona Frobisher, Head of Policy at The Pensions Regulator (TPR) has welcomed the guidance, saying “We encourage scheme administrators and trustees to review their existing scoring approach to ensure they meet minimum requirements, and adapt the good practices highlighted in the guidance to score member data in a consistent way”.
• In a press release, TPR highlights its input into a recent Eastenders storyline where a popular character was the target of a scam after participating in a free pensions review. TPR also reminds industry of its recent video campaign featuring the real-life story of a nurse who became the victim of a scam.
• In a recent press release and speech, TPR outlines how it is adopting its approach to the evolving pensions landscape in line with recent reforms announced by Chancellor Rachel Reeves to drive growth and scale (which we covered in a previous newsletter).
• The Government Actuary’s Department (GAD) has updated its guidance on staff transfers. This relates to the treatment of pensions in staff transfers to, from and within the public sector where staff are generally protected under government policy (fair deal) or other public service pension regulations.
• David Whincup in our Labour & Employment team has published a blog update on the UK Employment Rights Bill. He considers the view of the Regulatory Policy Committee that large parts of the bill are currently without demonstrated objective justification or consideration of their possible consequences for employers and the wider economy.
• Rachael Markham in our Restructuring & Insolvency team has blogged about a recent court decision confirming that the sole director of a UK private limited company that has Companies House model articles as its articles of association is able to make valid decisions. There had been some uncertainty recently as to whether two directors might be required for a valid decision-making process.
• Look out for our Winter Hot Topics in Pensions highlighting ten current issues for your trustee or corporate agenda. We give you advance warning that this publication has a retro theme, which may get you reminiscing!

If you would like specific advice on any of these issues or anything else, please contact a member of our Pensions team.