Pension scheme trustees should be aware of requirements under new money laundering regulations to record information and, in some cases, to give the information to third parties and to register the information with...more
8/31/2017
/ Anti-Money Laundering ,
Beneficial Owner ,
Employee Benefits ,
Notification Requirements ,
Pension Schemes ,
Pensions ,
Recordkeeping Requirements ,
Regulatory Standards ,
Retirement Plan ,
Trustees ,
UK
The March 2017 Budget detailed several measures in relation to overseas pension schemes. These reforms, contained in the Finance Act 2017, aim to permit tax free transfers where people have a genuine reason to move their...more
The Pensions Schemes Act 2017 was passed on 27 April 2017 and, as expected, makes provision for the authorisation of master trusts. Many details of the new requirements and procedures will be set out in regulations. The...more
As announced in the 2016 Autumn Statement, pension schemes may (but will not be required to) allow members to withdraw up to £500 from their defined contribution (DC) pension pots to pay for financial advice about retirement....more
This note sets out the areas in which restrictions on charges and governance requirements apply to trustees or managers of occupational money purchase schemes. These requirements have been introduced over the last two years...more
New legislation will cause master trusts to be subject to a detailed authorisation process and ongoing scrutiny by the Pensions Regulator. As currently drafted, the new provisions will catch non-associated multiemployer...more