As we transitioned from July into August, the pensions industry moved to release a number of useful guidance documents:

Implementing Implementation Statements

The Pensions and Lifetime Savings Association (PLSA) has published very useful guidance to help trustees navigate new disclosure requirements in force from 1 October 2020.

The new duties require 'relevant schemes' (occupational DC / hybrid schemes) to make publicly available a Statement of Investment Principles (SIP) which sets out how trustees make strategic investment decisions, and an annual Implementation Statement which describes their voting and engagement behaviours and also illustrates how their strategic aims have been enacted in practice.

DB-only schemes (including those whose only money purchase benefits are

Additional Voluntary Contributions) are also obliged to publish their SIP and produce an Implementation Statement, although the content of the Implementation Statement has a narrower scope, focusing on voting behaviour and the undertaking of engagement activities (stewardship policies) during the year.

The guidance notes that if an occupational pension scheme has both DB and . . .

07 Aug 2020   Check other news items