Skip to main content

Clifford Chance

Clifford Chance


UK: Pensions Update: May 2016

4 May 2016

Welcome to the May 2016 edition of the UK: Pensions Update

In this edition we focus on a number of key developments which took place on 6 April (including new corporate law disclosure requirements to maintain a "PSC" register, the ban on member-borne commission payments and the introduction of a statutory modification power to help with GMP revaluation issues caused by the abolition of contracting-out), as well as taking a look at what a "Brexit" could mean for UK pensions.

In this edition we also cover:

  • EIOPA's announcement to drop plans for a solvency-based funding regime for pension schemes;
  • an update on the progress of the revised IORP Directive;
  • ESMA's published list of UK pension arrangements which benefit from the derivatives clearing exemption;
  • trustee liability insurance;
  • the key announcements from March's Budget;
  • the Pensions Regulator's consultation on six new guides to support the DC Code of Practice; and
  • progress on the introduction of an early exit charges cap.


Download PDF