Pension trustees' agenda: key legal issues January 2021

Environmental Social Governance and climate change issues

• Pension Schemes Bill 2019 - 2021 - ESG - new climate change trustee governance duties
• Proposal that trustees act and report on scheme exposure to effects of climate change
• Review ESG default fund and other self-select ESG funds

Find out more about environmental social governance and climate change issues

GMP equalisation project

• Add past transfers to your GMP equalisation project
• Revisit all transfers made on or after 17 May 1990
• Remember - no time limit and individual member discharges are invalid
• CETVs (Cash Equivalent Transfer Values) - top ups calculated as at original transfer plus interest at 1% over base
• Make payment to receiving scheme

Find out more about GMP equalisation and transfers

2021 pension de-risking strategies

• Consider transferring DC assets sub £100m to master trusts before 1 October 2021 regulatory changes. Find out more here.
• Possible consolidation of underfunded DB schemes into superfunds. Find out more here.
• Buy-ins and buy-outs - contact your TLT adviser