The Pensions Regulator : Stakeholder update
06 July 2020
The Pensions Regulator (TPR) has released a new stakeholder update, to provide the latest communications, guidance, and news.
A new ScamSmart campaign has been launched by TPR, in conjunction with the Financial Conduct Authority (FCA), and its aim is to ensure that people are alert to scams, as there are certain individuals who are using the disruption caused by coronavirus as an opportunity to target the vulnerable. The pension scams campaign reminds savers to be extra vigilant and to be alert to the warning signs of scams.
TPR has also published its Corporate plan, which outlines its priorities for the coming year. The plan has been adjusted to account for how the pandemic has altered the pensions landscape but still retains TPR’s commitment to a clear, quick and tough approach.
The Annual Funding Statement Analysis 2020 has been published which confirms the expected positions of Defined Benefit (DB) pension schemes, and valuation dates between 22 September 2019 and 21 September 2020. There are some key messages within the Annual Funding Statement that trustees and employers should understand in terms of what TPR expects of them, and there is an infographic to highlight them.
There have also been updates to the guidance for ‘gated’ funds which advises of the processes to be followed once gated funds re-open.
There is a reminder that TPR works to continuously update its COVID-19 guidance hub, so this should be frequently revisited.
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