Pensions Management Institute (PMI)’s Post

Changes for the Pensions Regulator In response to new regulations, the Pensions Regulator (TPR) is making changes to guarantee ongoing benefits for savers and reinforce its oversight. Starting in April, three new regulatory functions will be established: 1- Regulatory Compliance (ensuring compliance) 2- Market Oversight (improving the market) and 3- Strategy, Policy, and Analysis (evolving regulations and supporting innovation) Chair of TPR, Sarah Smart, said: “The market should expect us to engage with it differently from now on. Our new structure means we will be swifter to address compliance failures and market-wide risks while being more dynamic in our industry engagement and bringing innovation to the fore.” These changes will be supported by essential functions like Operations, Digital, Data and Technology, and People. Chief Executive of TPR, Nausicaa Delfas, said: “We have to make sure that workplace pensions work for savers. Our organisational changes are about bringing our talented and capable colleagues together to protect, enhance and innovate in savers’ interests.” The changes reflect TPR's dedication to addressing compliance issues, managing market-wide risks, and fostering innovation. Talk to us if you want to discuss any of these changes. https://lnkd.in/eJVGUUHc #tpr #pensions #pensionschemes #trustees #Nausicaadelfas #issues  #trusteeship #sarahsmart #changes #technology #people #data #strategy #market #regulatory

Dalriada.Together® is a pensions consolidation model that delivers trusteeship, governance, administration and day to day operations while the client maintains control.     Vassos Vassou, Director of Dalriada Trustees responsible for Dalriada.Together, shares insights on the evolving landscape of defined benefit pension schemes. Managing these schemes is more complex and risk-laden than ever, and he explains that Dalriada.Together is here to offer a high-quality trusteeship and governance solution. Our emphasis on close collaboration and service consolidation ensures strategic objectives are met efficiently. We act as a single point of contact for members, sponsors, and advisers, streamlining the process and mitigating risks. This approach is not only adaptable for any scheme but particularly attractive for those seeking affordable and robust solutions from day one. 🔗 Get more information on our Dalriada.Together service here: https://lnkd.in/g3hF-7tm #DalriadaTogether #PensionSchemes #Trusteeship #InnovationInGovernance #PensionsConsolidation

If you need to get into the detail of AE implementation, Kevin Donaghy is the right person to speak to….

Pensions awareness week kicks off today! #WYPF are hosting a series of member webinars throughout the week. This is what the next few days look like... Monday - #LGPS fundamentals for pre April 2014 joiners Tuesday - #LGPS fundamentals for post April 2014 joiners Wednesday - Understanding your annual pension statement Thursday - Increasing your benefits Friday - #LGPS fundamentals for deferred members #WYPF #LBH #LPF #LBB #MemberEngagement #LGPS

Auto Enrolment (AE) will be a major change to the way employers can provide retirement benefits for their employees. It is important employers plan for AE now. At Align Advisory Limited we offer an independent perspective for employers who want to understand AE, what it means for them and what they need to do to plan and implement changes.

Rowena Wisniewska Sethi, considers the final draft Code and its implications for DB schemes. On 29 July 2024 the Pensions Regulator (TPR) published the final draft of the much-anticipated defined benefit (DB) funding code of practice (the draft Code) which is intended for scheme valuations with effective dates on or after 22 September 2024, replacing the existing code. The final draft Code is designed to reflect the Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2024, SI 2024/462 (the Regulations) which came into force on 6 April 2024 (which apply to valuations with effective dates on or after 22 September 2024). Following consultation feedback, the draft Code has been revised to strike a balance between setting clear and unequivocal funding standards and maintaining flexibility in respect of scheme specific approaches. You can read the full article here - https://shorturl.at/OUFCj

The new General Code of Practice is a major step change in the UK Pension Industry. Note: It was previously know as The Single Code of Practice. Our sister company, Assure UK, with it's leading role in #pensionaudits and #pensionassurance reporting, is working through the announcement and will be updating soon, and in the coming weeks about this change. We'll, of course, be echoing its posts and will also be working with our clients on how the changes impact their situations. #generalcode #pensions #assurance

The Pensions Regulator’s updated general Code of Practice has now come into force. Ensure your policies and procedures comply with TPR’s expectations by using TLT’s new governance hub. Find out more: https://lnkd.in/ezpnHHG2 #PensionsGovernance #GeneralCode #ESOG

The Pensions Regulator has issued guidance for trustees of occupational pension schemes who are considering investing in private markets. The guidance gives a general overview of types of private markets, including the opportunities and risks they present; the legal duties of investors; key considerations and specific matters to consider as trustees of defined benefit and/or defined contribution schemes.

The #ESAs - European Insurance and Occupational Pensions Authority (EIOPA), European Securities and Markets Authority (ESMA) and #EBA - published today the templates and tools for financial entities for the dry run exercise on reporting of their registers of ICT third-party service providers under #DORA. The material includes: 📑 templates with examples 📁 draft technical package ❓ FAQs The exercise will also clarify supervisory expectations. 🔗 https://europa.eu/!mGRwt3