• Jump to main content
  • Jump to main navigation
  • About us
  • Careers
  • Media Centre
  • Contact
  • The Brain
Hymans Robertson
  • Pensions
    • Back to Main Menu
    • Defined Benefit Consulting
      • DB Actuarial
      • DB Investment
      • DB Pensions Administration
      • DB Risk Transfer
      • DB Member Choice – At retirement
      • DB Governance
      • DB Consolidation
      • DB Wind-up
      • DB Endgame Strategy
      • Expert Actuarial Services
      • Fiduciary Oversight
      • Climate Change Services
      • Responsible Investment
      • Project Planning and Management
    • Defined Contribution Consulting
      • DC Pension Strategy
      • DC Scheme Structure
      • DC Investment
      • DC Engagement
      • DC Member Choice - At-retirement
      • DC Governance
      • Guided Outcomes
      • DC Master Trusts
      • Benefits and Rewards Strategy
      • Project Planning and Management
      • Climate Change Services
      • Responsible Investment
      • Communications
    • Public Sector Consulting
      • LGPS Actuarial
      • LGPS Investment
      • LGPS Governance, Administration and Projects
      • LGPS Employers
      • LGPS Online Learning Academy
      • Ill Health Liability Insurance
      • Climate Change Services
      • Responsible Investment
  • Financial Services
    • Back to Main Menu
    • Insurance
      • Longevity Management
      • Product Development
      • Risk and Capital Management
      • Investment and ALM
      • Property and Casualty
      • Regulated Roles
      • Insurance Transactions
      • Project Planning and Management
    • HRIS
      • Tailored Portfolio Service
    • Pension Providers
      • Digital Tools and APIs
      • Competitive Benchmarking
      • Proposition development
      • Operational Support
    • Digital Wealth
      • GO™ For Investment Pathways
      • Economic Scenario Service
      • API Catalogue
      • Strategic Asset Allocation
  • Digital & Innovation
    • Back to Main Menu
    • Digital & Innovation
      • API Catalogue
      • Economic Scenario Service
      • Digital Products
      • PRISM - Digital Pension Administration
    • Economic Scenario Service
      Explore the consequences of today's business decisions
    • Digital and Innovation
      We apply data science, technology expertise and innovation to help our clients build a better financial future.
  • Insights
    • Back to Main Menu
    • See all Insights
      • Webinars
      • Podcasts
      • Research and Publications
      • Blogs
      • Case studies
      • Press Releases
      • Events
    • Webinars
      Register for upcoming webinars as well as visiting our extensive webinar replay library.
    • All Insights
      See our latest thinking.
  • Team
  • About us
  • Careers
  • Media Centre
  • Contact
  • The Brain
  • Search

Our website uses cookies (what’s this?). These cookies allow us to distinguish you from other users of our website, which helps us improve our website and to deliver many of the functions that make your browser experience more user-friendly. Some of the cookies that we use are essential for parts of the website to operate. By using this website you agree to our use of cookies. To find out more, including how to opt out, please read our Cookies Policy.

OK

Publication

Regular round-up of the latest pensions, investments, trusteeship and scheme management news

Current Issues - May 2022

04 May 2022 - Estimated reading time: 9 minutes

Subject: Defined benefit pensions, Legislation & Regulation, Workplace savings & DC pensions

Audiences: Employers, Trustees

See excerpts from this month's articles below (to read more, please download our latest Current Issues). 

DB Annual Funding Statement 2022

In its Annual Funding Statement 2022, the Pensions Regulator encourages trustees of private sector defined benefit pension schemes to engage in open dialogue with their sponsors about immediate challenges and longer-term risks. There is recognition of the current difficult economic conditions—including high fuel and energy prices and the war in Ukraine—as well as the lingering effects of COVID-19 and Brexit, and the implications for schemes and their sponsors. Robust risk management and long-term planning remain vital.

GMP equalisation: tax effects of transfer top-ups & conversion

Her Majesty's Revenue and Customs (HMRC) has published a new Guaranteed Minimum Pension (GMP) Equalisation Newsletter, covering issues that arise when scheme administrators take corrective action in connection with historical transfers, and providing an update and guidance for those who convert GMPs into ordinary scheme benefits after equalisation.

Tax relief for low earners in ‘net pay’ arrangements

Her Majesty’s Treasury (HMT) expects that the first top-ups for scheme members affected by the ‘net pay anomaly’ will be ‘paid by 2026-27’. This seems like evidence of slippage in the timetable announced at the time of the Autumn Budget 2021.

Regulator pursues overseas parent over MBO

The Pensions Regulator has imposed a contribution notice on a German company that (in its assessment) disposed of a UK business with a ‘complete disregard’ for the interests of the business’s defined benefit (DB) pension scheme. For the first time, the contribution notice included amounts in respect of lost investment returns and interest.

Regulator's guidance on conflict in Ukraine

In March, the Pensions Regulator has published a brief note on its expectations of pension scheme trustees in light of the conflict in Ukraine. The note mainly covers investment issues, but also touches on cyber security and member communications.

HMRC newsletter April 2022

Highlights from Her Majesty’s Revenue and Custom's Pension Schemes Newsletter 138.

Current Issues - May 2022

Download

Subscribe to our news and insights

Related content

Current Issues - April 2022

Publications 04 Apr 2022

Current Issues - March 2022

Publications 02 Mar 2022

Current Issues - February 2022

Publications 02 Feb 2022

Current Issues - January 2022

Publications 06 Jan 2022

0 comments on this post

Comment

  • Share this via Twitter
  • Share this via Linkedin
  • Share this via Email
Related content
Close related articles

Current Issues - April 2022

Publications

Current Issues - March 2022

Publications

Current Issues - February 2022

Publications

Current Issues - January 2022

Publications

Subscribe to our news and insights

Menu

About

    • Abelica Global
    • About us
    • Award-winning advice
    • Careers
    • CSR
    • Diversity & Inclusion
    • Our Centenary

Legal

  • Accessibility
  • Modern Slavery Act Transparency Statement
  • Trust centre
  • Privacy notice
  • Terms of use

Resources

  • Conflicts of Interest
  • Coronavirus (COVID-19)
  • Responsible Investment
  • Gender Pay Gap
  • Sitemap

Contact

  • Our offices
  • Get in touch
  • Subscribe
    • Visit us on Linkedin
    • Visit us on Twitter
    • Visit us on Instagram
    • Visit us on Vimeo
    • Visit us on Spreaker
Hymans Robertson

Copyright © 2022 Hymans Robertson LLP. All rights reserved.