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Pensions: What's new this week - 17 August 2020

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17 August 2020

Each week the Allen & Overy Pensions team, rounds up the latest legal and regulatory developments in the world of occupational pensions. Contact us if you would like to receive our podcast summary, or our full briefing by email, at the start of each week. Read the latest edition of 'What's new this week' below to find out more information on the stories that matter to you. 

TPR publishes scheme funding analysis

The Pensions Regulator (TPR) has published its latest analysis of scheme funding issues, based on Tranche 13 schemes (effective valuation dates between 22 September 2017 and 21 September 2018). It notes that 37% of Tranche 13 schemes reported a surplus on the technical provisions basis. The average recovery plan length was approximately 6 years; three-quarters of schemes in covenant group 1 (strong) have recovery plans of up to around 6.7 years; the same proportion of schemes in covenant group 4 (weak) have recovery plans of up to around 12.2 years.

New blog series: redundancy

We are publishing a series of blog posts on redundancy, looking at both pensions and employment issues. In the autumn, we will host a seminar on these issues with our Employment colleagues (date to be announced). The first post is Redundancy and pregnant employees; two posts on pensions issues will be published later this week.