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Clifford Chance

Clifford Chance


Welcome to the December 2022 edition of the UK: Pensions Update

12 December 2022

In this edition we look at the potential impact of the government's Retained EU Law (Reform and Revocation) Bill and statements from the FCA and tPR following the recent issues some schemes have experienced with liability-driven investments.

In this edition we also cover:

  • tPR's consolidated enforcement policy and updated prosecution policy;
  • the DWP's consultation on DB funding regulations;
  • what is required of trustees under the new pension dashboards regime and its current status;
  • the outcome of the judicial review of the UKSA's RPI/CPIH alignment decision;
  • the FCA's consultation on broadening pension scheme access to illiquid assets;
  • the DWP's consultation on 'disclose and explain' proposals and performance-based fees;
  • supplementary guidance from HMRC on GMP equalisation and conversion;
  • consultation responses from the DWP in respect of various pieces of legislation which came into force on 1 October 2021; and
  • a general round-up of recent pensions updates ranging from updated pension scam transfer guidance to the applicability of the FCA consumer duty to occupational pension schemes.
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