Trustee Agenda Winter 2019
Welcome to our final edition of Trustee Agenda for 2019.
In this edition we feature an article on the much-anticipated Pension Schemes Bill. Amongst other things, the Bill includes a package of measures aimed at strengthening the powers of the Pensions Regulator as well as some fundamental changes to the scheme funding regime. Although Parliament has been dissolved ahead of the general election since the Bill was published, we understand it is a Bill with cross-party support and so is likely to be re-introduced, regardless of the outcome of the general election.
We also place the spotlight on the Investment Consultancy and Fiduciary Management Market Investigation Order, which came into force earlier this year. The Order states that trustees must not continue to receive investment consultancy services, unless they have set strategic objectives for their investment consultant by 10 December 2019 – so that deadline is looming.
Finally, we draw attention to the ECJ decision in Safeway v Newton which relates to the equalisation of normal pension ages for men and women, and will be of interest to trustees of schemes which purported to equalise normal pension ages by way of an announcement to members.
As always, do let me know if there are any particular topics or issues you would like to see covered in future editions of Trustee Agenda.