Landmark changes for UK pensions.
The long awaited Pension Schemes Act received royal assent on 11 February 2021. The Act aims to strengthen protections for savers, increase the regulator’s powers and align pension schemes with government ambitions to combat climate change. Minister of Pensions, Guy Opperman stated that he believes the new Pension Schemes Act 2021 will make pensions safer, better and greener.
Further consultation and guidance is anticipated before the various provisions come into force, probably in Autumn 2021.
We will keep you updated as more detail emerges. Contact Sasha Butterworth if you have any queries.
TLT’s pension team works with employers and trustees and advises on all aspects of pensions law and regulation.
This publication is intended for general guidance and represents our understanding of the relevant law and practice as at February 2021. Specific advice should be sought for specific cases. For more information see our terms & conditions.
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