Disclosure requirements for occupational and personal pension schemes—the 2013 disclosure regulations
Disclosure requirements for occupational and personal pension schemes—the 2013 disclosure regulations

The following Pensions practice note provides comprehensive and up to date legal information covering:

  • Disclosure requirements for occupational and personal pension schemes—the 2013 disclosure regulations
  • Introduction of new disclosure regime from 6 April 2014
  • Key changes made by the 2013 Disclosure Regulations
  • Resisting a principles-based approach
  • Scope of the 2013 Disclosure Regulations
  • Schemes to which the 2013 Disclosure Regulations apply
  • What are 'Schedule 1 occupational pension schemes'?
  • Members and 'excluded persons'
  • Limits to the scope of the 2013 Disclosure Regulations
  • Application of 2013 Disclosure Regulations
  • More...

CORONAVIRUS (COVID-19) UPDATE: In light of the coronavirus pandemic, the Pensions Regulator (TPR) issued guidance setting out reporting easements which applied until 30 June 2020. Among other things, DB trustees were allowed to suspend cash equivalent transfer value (CETV) quotations and payments until 30 June 2020 and TPR agreed not to take regulatory action for any breach resulting from such suspension. Similarly, TPR did not expect short-term breaches in respect of annual benefit statements to be reported to it if they did not have a negative impact on savers.

This guidance was updated on 16 June 2020, with TPR stating that it will continue to take a pragmatic approach to the late preparation of audited accounts and will accept delays to 30 September 2020. Similarly, TPR will not review any chair’s statements until after 30 September 2020, nor does TPR expect to take regulatory action for delays in the review of a statement of investment principles (or statement in relation to any default arrangement) until 30 September 2020.

In addition, on 29 April 2020, TPR issued guidance requiring DB trustees to issue a letter template to all members requesting a CETV quote for the foreseeable future. The letter contains points for the member to consider before making a transfer decision. Moreover, DB trustees should actively monitor the number of requests for

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