Pensions on Air: Surplus, transfers and the reform agenda

In our Pensions on Air podcast, we delve into all things pensions-related, bringing you the key developments in pensions law and regulation through monthly 15-minute episodes that accompany our Pensions Essentials bulletin.

In this episode, Dan Schaffer is joined by Karen Mumgaard to discuss the Government’s latest proposals on the release of surplus from ongoing defined benefit pension schemes, looking at the consultation on the process for surplus refunds, the Pensions Regulator’s early views on how trustees should approach refunds and some hints at how surplus sharing with members via a new form of lump sum might work.

Dan and Karen also explore proposed changes to the transfer conditions regime aimed at removing barriers to legitimate transfers, draft regulations dealing with an annual allowance issue for deferred members on GMP conversion, and the Government’s plans to consult on the future of flexible apportionment arrangements.