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The Pension Schemes Bill 2020 (Part 2)—funding, transfers and PPF changes

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Published on: 08 January 2020

Published by a LexisNexis Pensions expert

Table of contents

Original news
What are the implications of these measures?
What is the background?
What do the measures on funding, transfers and the PPF entail?
What are the next steps?

Article summary

Pensions analysis: On 7 January 2020, the Pensions Schemes Bill 2020 was reintroduced in the House of Lords. It was published the following day, alongside explanatory notes. Save for some minor changes, the Bill is largely unchanged from the version first published in October 2019. Among other things, the 2020 Bill aims to restrict the statutory right to transfer, to require trustees of defined benefit (DB) schemes to produce a funding strategy statement and have a trustee chair, as well as to amend PPF compensation rules to make the Beaton changes retrospective. This News Analysis is the second of four News Analyses covering the various measures of the Pension Schemes Bill 2020. It is based on News Analysis published in respect of the 2019 version of the Bill, but updated to reflect any (minor) changes made to the Pension Schemes Bill 2020.

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