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The Watch List
6th April, 2015 changes
- DB to DC transfers: requirement for financial advice
- new DC governance requirements and charging restrictions
- DC pensions guidance: "Second line of defence"
New law
- automatic transfers: framework document
- PPF administration levy: increases for 2015/2016, 2016/17 and 2017/18
Tax
- HMRC’s Pensions Liberation Update newsletter
Cases
- no duty on trustees to warn member about retrospective benefit changes: Ombudsman’s determination in relation to Levinson
- Pensions liberation: Ombudsman’s statement in relation to transfers that were not blocked
Points in practice
- PPF levy 2015/16: guidance on contingent assets: Guarantor’s strength
- abolition of DB contracting-out: HMRC’s Countdown Bulletin 5
- automatic enrolment: Increase in Regulator’s enforcement activity
- requirement for clearing derivatives: European Commission recommends further 2 year exemption for pension funds
Client seminars
- Pensions Update seminar: 11th February, 2015: Packs available
- Pensions Update seminars 2015