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United Kingdom

UK pensions update: TPR 2023/24 report, PPF levy deferral, TPO reforms, Virgin Media fallout, adequacy review delay, State Pension age response, and Law Commission scoping on pensions and divorce

Published on: 19 December 2024

Published by a LexisNexis Pensions expert
Legal News
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Article summary

In this issue:

  • The Pensions Regulator
  • The Pension Protection Fund
  • The Pensions Ombudsman
  • Scheme amendments
  • Members and benefits
  • Pensions and divorce
  • Pensions Highlights 2024/2025
  • Daily and weekly news alerts
  • Dates for your diary
  • Trackers

The Pensions Regulator

The Pensions Regulator (TPR) has issued its annual report and accounts for 2023/24, signalling a reshaped approach and seizing a ‘unique opportunity’ to improve pension outcomes for savers. Over the year, TPR brought in more agile market supervision to reflect a landscape of fewer, larger schemes, enabling it to tackle emerging risks while backing innovation in savers’ interests. Twenty-five per cent of schemes were selected for intervention, relationship supervision covered 70% of memberships, and 11 million eligible jobholders have now been automatically enrolled into an automatic enrolment pension scheme. Ongoing consolidation creates scope for larger schemes to allocate to a broader mix of assets and secure better member outcomes, and TPR remains focused on protecting savers, strengthening the pensions system and championing innovation that serves savers’ interests...

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