Pension Schemes Bill

The Pension Schemes Act 2021 will revolutionise savings and help build back better and greener, says Guy Opperman.

The industry has welcomed the introduction of the Pension Schemes Act, with many praising the important changes it introduces for millions of savers in workplace pensions.

Enhanced criminal and civil sanctions for defined benefit (DB) scheme negligence have become law after the Pension Schemes Act 2021 gained its place on the statute book.

The top stories this week included articles on LCP’s warning that trustees will need to be corporate finance experts under new TPR powers, Livingbridge’s sale of Broadstone to Intermediate Capital Group, and the final approval of the Pension Schemes Bill....

The Pension Regulator’s (TPR) strengthened powers under the Pension Schemes Bill could lead to a revival of its clearance process, according to advisers and lawyers.

The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.

Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.

The Pension Schemes Bill has been scheduled for ping-pong, its penultimate step before becoming law.

New Pension Schemes Bill powers given to The Pensions Regulator (TPR) to issue contribution notices will not be backdated, pensions and financial inclusion minister Guy Opperman has confirmed in a written parliamentary statement.