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  Latest UK News (July 2010):
    -   Emergency Budget 2010 - consider implications of the review of higher earners pension tax, most likely to be replaced by lower Annual Allowance
  -   Consider implications of phasing out the default retirement age from 2011
  -   Other Budget measures including the more rapid increase of State Pension Age to 66 and the end of compulsory annuitisation
  -   Auto-enrolment and NEST to be reviewed - detail may change but auto-enrolment will go ahead
  -   Pensions Regular issues guidance on employer covenant - trustees should ensure they are taking sufficient steps to understand their employer’s situation
  -   Employers could lose any prospect of a refund of surplus from 6 April 2011 - consider acting now to avoid this
  -   Pilot's legal case - ruling clarifies some aspects of legislation around who counts as an employer
  -   Pensions Regulator issues its first Contribution Notice to Bonas Group Pension Scheme - employers considering restructuring option should consider the verdict
  -   Record-keeping - schemes should ensure they meet the targets set by the Regulator in its revised guidance
  -   Internal controls - guidance is updated, trustees should consider this in light of their own processes
  -   PPF update - including a fall in the 7800 Index
  -   FRC confirm levy for 2010/11
  -   HMRC update
  -   BAS release a draft actuarial standard on "pensions and insurance transformations"


To see all these updates together click on latest updates above.
Pensions Brief provides a monthly update on the latest UK pensions developments and analyses how changes impact on trustees, pension managers and employers. By addressing the "so what?" question, Pensions Brief is aimed to keep the busy pensions professional up-to-date and also serves as an informative reference point for developments going back nearly ten years.

The main way to use Pensions Brief is to view by date or by topic. Alternatively, select a source from the list on the left and then choose a topic, or use our "Search" function. Web-links to the source material are provided where appropriate.

PricewaterhouseCoopers regularly publish bulletins on key market changes and regulatory updates, clearly outlining the key information for employers and trustees and the actions that they need to take. To view our most recent Pension files, please go to PwCPlus.


Whilst every effort is made to ensure that Pensions Brief is correct at the time of posting, circumstances change and policies develop. Pensions Brief should not be taken as a substitute for the need for proper professional advice on any of the issues to which it alerts readers.

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Contacts
Raj Mody
Partner and Chief Actuary
+44(0)20 7804 0953

Spencer Thomas
PwC pensions practice
+44(0) 29 2080 2337

Navneet Bassan
PwC pensions practice
+44(0) 20 7804 7715

Andrew Hoddinott
PwC pensions practice
+44(0) 20 7213 5304

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