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Pension schemes to issue COVID-19 transfer warning to savers

Pension schemes to issue COVID-19 transfer warning to savers Savers looking to transfer from a defined benefit (DB) to a defined contribution (DC) pension during the COVID-19 crisis will be warned it’s unlikely to be in their best long-term interests in a letter from regulators. Under guidance published by The Pensions Regulator (TPR) trustees are […]

Assurance reporting on Master Trusts (TECH 05/20 AAF)(05/20) provides more guidance on Trustee requirements

This new technical release provides guidance on the performance of assurance engagements on governance control activities established by trustees of Master Trusts. It is effective for reporting periods beginning on or after 31 March 2020. Early adoption of the guidance is encouraged. This replaces previous assurance reporting on master trusts (TECH 12/16 AAF) with updated […]

New Audit Considerations Relating to the Coronavirus (COVID-19) Outbreak

The Coronavirus (COVID-19) outbreak is having a significant worldwide impact. Whilst everyone’s first thoughts are to keep their loved ones safe, auditors have to be alert to the impact that the outbreak is having on their clients. The global economic downturn, restrictions on travel, delays to supply chains, loss of cash flow, amongst other factors, […]

How to avoid pension scams

Part I – Administrators Helping protect your members from scams In the current conditions, the risk of scams is something that administrators need to be aware of. Savers might increasingly look to transfer their pension, prompted by the instability of their employer or the financial markets. This means they could be increasingly targeted by scammers […]

New Pensions SORP 2018

SORP 2018 The Pensions Research Accountants Group (PRAG) has published new guidance to update the current SORP used for the Scheme Report & Accounts. The recommendations of this SORP are applicable for all Scheme years commencing on or after 1 January 2019 and will replace the current SORP 2015. Much of this SORP is based […]

Fit 4 Feb Finale

The month over, and it is with great aplomb that we proudly announce the completion of Assure UK’s Fit 4 Feb challenge. We set ourselves the goal of walking a combined 2 million steps over the course of February and with 4 days remaining within the month, we surpassed that target, leaving us pondering over […]

Help from PASA with master trust transition guidance

Help from PASA with master trust transition guidance Guidance is available from the Pension Administration Standards Association (PASA) on how to make transition work best for members with the consolidation of master trusts. The Pensions Regulator (TPR) commented “Prioritising data as well as putting savers and employers at the heart, including keeping them informed, is […]

Future of Trusteeship and Governance

The Pensions Regulator (TPR) gave its response to Trusteeship and in particular the creation of more diverse trustee boards and sole trusteeship in ‘Future of trusteeship and governance February 2020′. The consultation in July 2019 focused on what could be done to raise standards amongst small pension schemes to protect the interests of savers in […]

Possible U-Turn on Pensions for High Earners

There have been many stories in the press about GPs and senior hospital doctors refusing to take on extra shifts and additional responsibilities due to the additional tax they are required to pay on the extra pension contributions paid by the NHS. A number of solutions have been put forward. There are now strong rumours […]

Three Tips to Improving Team Retention & Engagement

As the war on talent rages ever more fiercely, business owners know more than most about the challenges of finding and hiring key talent needed to deliver excellent customer service and grow the business. The start of a New Year is a time when usually stable team members, not only think about rebooting their fitness […]

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