From thought leadership to technical pieces, knowledge hub keeps our members and pensions professionals up to date with the recent developments in the industry.
“Welcome, it’s lovely to meet you!” I say enthusiastically, studying the new face on my screen. With a lack of body language and visual cues to help me, I find myself searching my new colleague’s backdrop for clues to her personality and interests. It doesn’t give much away, but after spying a cat picture on the wall, I get the sneaking suspicion that we will get on just fine.
The Pension Schemes Act 2021 (the Act) introduces a requirement for occupational pension schemes to manage the effects of climate change as a financial risk, and to report on how they have done so in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. A compliance framework regarding the new duties will be put in place, including additional powers being given to The Pensions Regulator (TPR).
Many trustees and employers are on a constant quest to capture the interest of their membership, and with good reason: there’s a clear correlation between improved member engagement and better member outcomes. With greater information and understanding, members are more likely to make appropriate decisions, keep their scheme up-to-date with the information it requires, and be less likely to fall victim to a scam. But schemes must be careful about the ‘hows’ and ‘whats’, particularly in the light of a couple of recent industry publications. So, how can we make sure employees are engaged and financially literate, whilst avoiding the risks inherent in doing so?
The Pensions Regulator’s Climate Change Strategy - some key comments and next steps
On 7 April 2021 The Pensions Regulator (TPR) published its Climate Change Strategy, including its approach to the trustee requirement for Statement of Investment Principles (SIPs) to include an Implementation Statement by 1 October 2021. Considered below are some of the key extracts from the Strategy, together with a practical summary of related SIPs and Implementation Statement requirements.
Having been in the consulting business for over 30 years, it was a natural switch to join the ranks of Professional Trustees. However, it was clear to me that whilst being a Fellow of the PMI (FPMI) felt like it should be enough, the world had moved on and the role involved taking responsibility directly for real people’s incomes in retirement. It seemed, therefore, entirely logical to look at what additional publicly acknowledged qualification would support me in my new world.
“Welcome, it’s lovely to meet you!” I say enthusiastically, studying the new face on my screen. With a lack of body language and visual cues to help me, I find myself searching my new colleague’s backdrop for clues to her personality and interests. It doesn’t give much away, but after spying a cat picture on the wall, I get the sneaking suspicion that we will get on just fine.
The Pension Schemes Act 2021 (the Act) introduces a requirement for occupational pension schemes to manage the effects of climate change as a financial risk, and to report on how they have done so in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. A compliance framework regarding the new duties will be put in place, including additional powers being given to The Pensions Regulator (TPR).
Many trustees and employers are on a constant quest to capture the interest of their membership, and with good reason: there’s a clear correlation between improved member engagement and better member outcomes. With greater information and understanding, members are more likely to make appropriate decisions, keep their scheme up-to-date with the information it requires, and be less likely to fall victim to a scam. But schemes must be careful about the ‘hows’ and ‘whats’, particularly in the light of a couple of recent industry publications. So, how can we make sure employees are engaged and financially literate, whilst avoiding the risks inherent in doing so?
The Pensions Regulator’s Climate Change Strategy - some key comments and next steps
On 7 April 2021 The Pensions Regulator (TPR) published its Climate Change Strategy, including its approach to the trustee requirement for Statement of Investment Principles (SIPs) to include an Implementation Statement by 1 October 2021. Considered below are some of the key extracts from the Strategy, together with a practical summary of related SIPs and Implementation Statement requirements.
Having been in the consulting business for over 30 years, it was a natural switch to join the ranks of Professional Trustees. However, it was clear to me that whilst being a Fellow of the PMI (FPMI) felt like it should be enough, the world had moved on and the role involved taking responsibility directly for real people’s incomes in retirement. It seemed, therefore, entirely logical to look at what additional publicly acknowledged qualification would support me in my new world.
