Sasha Butterworth (Head of Pensions at TLT) discussed how trustees should tackle these new requirements on the Cornwall Insight podcast.
New industry guidance on GMP conversion
If you’re considering GMP conversion, check out the Pensions Administration Standards Association (PASA) industry guidance.
It offers pragmatic examples of how trustee boards can approach a conversion project. The guidance also discusses some of the tax consequences that are prompting some trustee boards to delay conversion.
You can listen to a seminar on the new guidance and read the guidance itself here.
The Pensions Regulator’s new powers
From 1 October 2021 new regulations have amended the contribution notices regime by introducing the new employer insolvency and employer resources tests.
The Pensions Regulator has issued a draft code of practice setting out the circumstances in which it will exercise the new powers. You can read the draft code here.