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UK pensions update for lawyers: TPR finalises DB Fast Track, PDP reporting standards, multi-employer CDC, Fair Deal transfer guidance, and Police/Firefighters’ contribution consultations (28 November 2024)

Published on: 28 November 2024

Published by a LexisNexis Pensions expert
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In this issue:

  • The Pensions Regulator
  • Pensions dashboards
  • Collective defined contribution schemes
  • Public sector pensions
  • Daily and weekly news alerts
  • Dates for your diary
  • Trackers

The Pensions Regulator

TPR publishes final Fast Track parameters

The Pensions Regulator (TPR) has issued a standalone, finalised version of the Fast Track tests and conditions. Previously included as Appendix 1 to TPR’s response to its Fast Track and regulatory approach consultation, this document details the parameters that a defined benefit (DB) scheme must meet when submitting an actuarial valuation with an effective date on or after 22 September 2024 under the Fast Track route. In essence, the framework sets expectations across funding and investment stress, technical provisions, investment risk, and the recovery plan. In completing the parameters, TPR made a number of minor tweaks to better clarify its intentions. Fast Track is one of two newly introduced pathways—alongside the Bespoke route—available to trustees when filing a DB scheme valuation dated on or after 22 September 2024. Trustees may select the Fast Track route where the valuation complies with TPR’s defined parameters...

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