1 March 2024
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Trustee Quarterly Update March 2024

To The Point
(23 min read)

In this Update we look at key legal developments for pension scheme trustees over the past quarter.  These include some long-awaited developments, namely publication of the Pensions Regulator's General Code, and also the final version of the scheme funding regulations.  We also look at two recent Ombudsman determinations involving schemes moving to buy-out.  In one case the member complained that the buy-out terms did not provide for discretionary pension increases.  In the other the member complained because the trustees had decided to split the surplus 50/50 between benefit increases and a payment to the employer.  We consider what these cases tell us about the Ombudsman's approach to such complaints. 

Pensions Regulator
Pensions Ombudsman
Pension Protection Fund

To the Point 

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