Pensions Weekly Update – 3 July 2024

July 2024
Region: Europe

Here is our weekly summary of key legal and regulatory developments relevant to occupational pension schemes that you might have missed, with links for further information.

  • The Pensions Ombudsman (TPO) has issued an updated factsheet with generic wording that schemes can use to signpost members to its complaints service. The factsheet includes referral wording that can be used in complaint and resolution processes and contains two options for scheme website wording (long form and short form).
  • The Pensions Policy Institute (PPI) has published the third paper in its election manifesto series. This paper looks at the measures set out in the manifestos that relate to later life provision, including state pension, private pensions, housing, social care and some wider issues that are likely to impact pension savings, such as approaches towards gender and ethnic pay gaps and reducing university courses.
  • The Taskforce on Nature-related Financial Disclosures (TNFD) has reported a 30% increase in the number of organisations adopting its corporate reporting recommendations since January 2024 (bringing the total to over 400). The recommendations provide a similar framework to that of the Taskforce on Climate-related Financial Disclosures. The aim of the TNFD is to support a shift in global financial flows towards nature-positive outcomes aligned with the global biodiversity framework.
  • If you are undertaking a buyout project, remember that there is a key dashboards-related deadline that might be relevant to your scheme. Our blog post contains more information.
  • Labour and employment partner, David Whincup, considers in his blog post whether sending an employee an unwanted birthday card could constitute harassment.

If you would like specific advice on any of these issues or anything else, please contact a member of our Pensions team.

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