A number of new master trust pension arrangements have been launched to compete directly with National Employment Savings Trust. These will operate in a very similar way to NEST.
The Pensions Regulator has issued new guidance on “Compliance and enforcement strategy for employers subject to automatic enrolment duties” with effect from October 2012. The strategy document sets out the functions of the Pensions Regulator, the regulatory approach to maximising compliance with the new duties and safeguards and the enforcement options. Complimentary copies are available on request.
The Takeover Panel has also issued a consultation paper regarding the disclosure of information by the company planning the takeover to cover its plans for the target company’s pension scheme and scheme trustees. The aim is to create a framework within which the effects of an offer on the pension scheme can be debated and the target company and the scheme trustees can express their views. It will apply to the defined benefits and defined contribution schemes of listed companies.