Pensions law trustee update - Q4 2021

Priorities for trustees this quarter are to:

• ensure their statutory transfer out procedures are updated to take account of the new obligations and restrictions in force from 30 November 2021; and
• start thinking about steps needed to comply with the Pensions Regulator's (Regulator) draft code of practice.

In addition, trustees should be aware of guidance notes and codes produced by the Regulator on (i) how it will exercise its new powers under the Pension Schemes Act 2021 (PSA); and (ii) when default arrangements in defined contribution schemes may be inadvertently created, giving rise to additional obligations for trustees.

Further information on all of these topics can be found in our additional materials, referenced in the table in the PDF below.