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Clifford Chance

Clifford Chance


UK Pensions Update: June 2022

1 June 2022

Welcome to the June 2022 edition of the UK: Pensions Update.

In this edition we focus on some recent exercises of the Pensions Regulator's powers and the Regulator's new consolidated and simplified enforcement policy and updated prosecution policy.

In this edition we also cover:

  • TPR's guidance relating to the conflict in Ukraine;
  • TPR and the FCA's feedback on their value for money discussion paper;
  • TPR's consultation and draft regulations in relation to CDC Schemes;
  • The DWP's continued drive to protect members' DC benefits and facilitate investment in illiquid assets and recent consultations in that area;
  • The GMP Conversion Bill coming into law;
  • Supplementary guidance from HMRC on GMP equalisation and conversion;
  • The PRA's statement on capital arbitrage transactions; and
  • A Pensions Ombudsman determination in a recovery of overpayments case.
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