A number of industry bodies, including the Department for Work and Pensions and the Pensions Regulator, issue draft legislation, best practice guidance or statutory requirements for consultation from interested parties before any change becomes effective. The list below is a summary of subjects recently offered for consultation or topics expected to be consulted upon in the near future.
Open Consultations
PPF Assessment: consultation on trustee guidance, issued by the PPF on 2 May 2008, consultation ends on 25 July 2008
PPF Assessment: consultation on equalisation of GMPs, issued by PPF on 28 April 2008, consultation ends on 28 July 2008
Risk Sharing: consultation on risk sharing in occupational schemes, issued by DWP on 5 June 2008, consultation ends on 28 August 2008
International Accounting Standards: issued by IAS Board on 27 March 2007, consultation ends on 26 September 2008
Actuarial Practice and Regulation: issued by the Financial Reporting Council on 23 May 2008, consultation ends on 30 September 2008
Future Consultations, Regulations and Guidance
Transfer Values: guidance on calculation of transfer values to be issued by tPR, expected in Q2 2008
PPF Levies: consultation on long term risk assessment, issued by PPF, expected in summer 2008
Member Communication: consultation on principles based disclosure regulations, expected from summer 2008
Consultations Now Closed
Clearance Guidance: issued by tPR, consultation ended on 2 November 2007
Deregulatory Review: issued by DWP, consultation ended on 15 November 2007
Flexible Retirement and Pension Provision: issued by DWP, consultation ended on 7 December 2007
Dispute Resolution: issued by DWP and tPR, consultation ended on 19 December 2007
PPF Levies: issued by PPF on 29 November 2007, consultation ended on 11 January 2008
Pension Levies-Related Regulations: issued by DWP on 6 December 2007, consultation ended on 31 January 2008
Framework for Actuarial Standards: issued by Board for Actuarial Standards on 22 November 2007, consultation ended on 31 January 2008
Contracting Out and SIPPs: issued by DWP on 10 December 2007, consultation ended on 29 February 2008
PPF Valuation Assumptions: issued by PPF on 14 February 2008, consultation ended on 14 March 2008
Joint Winding Up Approach: issued by PPF, DWP and tPR on 3 March 2008, consultation ended on 15 April 2008
Personal Accounts Charging Structure: issued by PA Delivery Authority on 29 January 2008, consultation ended on 22 April 2008
Mortality Assumptions: issued by tPR on 18 February 2008, consultation ended on 12 May 2008
Conflicts of Interest: issued by tPR on 22 February 2008, consultation ended on 30 May 2008
Mortality Assumptions: issued by the Board for Actuarial Standards on 28 March 2008, consultation ended on 20 June 2008
Powers of the Pensions Regulator: issued by DWP on 25 April 2008, consultation ended on 20 June 2008
Investment Principles: issued by HM Treasury, DWP and tPR on 31 March 2008, consultation ended on 23 June 2008
Pension Cost Accounting: issued by Accounting Standards Board on 31 January 2008, consultation ends on 14 July 2008