The Future of Trusteeship and Governance – Step by Step

    View Author February 2020

    On 10 February 2020, The Pensions Regulator (TPR) published the eagerly awaited response to its consultation on the Future of Trusteeship and Governance. It is clear that TPR does not intend to rush into action – this is a slow and steady pace of change.

    We summarise the key outcomes and the next steps in our publication.

    General Updates

    • IR35 – On 7 February 2020, HM Revenue & Customs updated its draft guidance on the scope and commencement of the new rules. The revised guidance states that the new rules only apply where the services are provided, and the payment for those services is made, on or after 6 April 2020. The new draft guidance is intended to “give businesses certainty and more time to prepare” before the reformed regime comes into force in April. IR35 was covered in our recent blog IR35 Reforms - A Taxing Time for Pension Trustees and Corporate Sponsors.
    • Stewardship Code – See our recent blog Stewardship Code – A Long Engagement, which explores the key aspects of the code relevant to pension scheme trustees.