7 days
7 Days is a weekly round up of developments in pensions, normally published on Monday afternoons. We collate this information from key industry sources, such as the DWP, HMRC and TPR.
In this 7 Days:
- Public Sector: Local Government Pension Scheme 2014: draft regulations on membership, contributions and benefits
- DWP issues guidance on automatic enrolment
- NAPF appoints new DB and DC council members
Public Sector: Local Government Pension Scheme 2014: draft regulations on membership, contributions and benefits
Between December 2012 and August 2013, the Government consulted on draft
regulations for the new Local Government Pension Scheme. This consultation covered the core elements of the new scheme, in particular, the provisions relating to membership, contributions and benefits.
On 24 September 2013, the Government published a summary of the responses received.
DWP issues guidance on automatic enrolment
On 25 September 2013, the DWP issued three sets of revised guidance which aim to help employers and their advisers determine whether a scheme qualifies as an auto-enrolment scheme:
- guidance for actuaries on certifying DB and hybrid pension schemes;
- guidance for employers on certifying DB and hybrid pension schemes; and
- guidance for employers and their advisers on the certification of money purchase pension schemes.
NAPF appoints new DB and DC council members
- On 27 September 2013, the NAPF announced the following appointments: Frank Johnson and Jonathan Hunt have been elected as new members of the DB Council; and
- Anne Hunt, Andy Cheseldine and Carol Young will serve on the DC Council.