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Pensions Timeline

6 AprilState Pension Age: Completion of increase to age 68.
6 AprilGradual raising of state pension age from 65 to 68 begins.
6 AprilState Pension Age: Completion of raising the female SPA to equal the male age of 65.
 Planned introduction of personal accounts.
 The link between state pensions and earnings to be re-established.
 DC contracting-out to be abolished some time after 2012. more
 Significant increase to PPF administration levy expected.
6 AprilWorking-age widowers (finally) achieve parity of entitlement with widows to inherited SERPS and S2P.
 Gradual raising of the female state pension age from 60 to 65 begins. (From 04/2010, female SPA effectively increases by 1 month for every 2 months that pass.)
 Watch out for:
 Self Invested Personal Pensions to be allowed to hold protected rights. more
 European Commission review of IORP Directive.
 New Isle of Man Income Tax (Pensions) Act (likely to be retrospective to 6 April 2008). more
 Amendments to the Finance Act 2004 by the Finance Act 2008 (notably to simplify the administration of trivial commutation). more
 Final guidance from the Pensions Regulator on conflicts of interest; reasonable periods relating to internal disputes; and longevity.
 Amendments to Financial Assistance Scheme Regs.
 Government response to consultation on flexible retirement and age discrimination (likely July 2008). More
1 OctoberNew Transfer Value Regs will come into effect. more
 
5 JuneConsultation published on plans for a new type of scheme to more evenly share risks between employer and the individual; plus, plans to abolish the protected rights ‘survivor’s benefit’ rule. more
25 AprilConsultation published on plans to increase powers of the Pensions Regulator. more
7 AprilGuidance from the Pensions Regulator on multi-employer withdrawal arrangements. more
6 AprilEmployer Debt Regs amended by the Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2008. more
 Amendments to the Provision of Information Regs. more
 Minor amendments to the Internal Dispute Resolution Procedures. more
2 AprilMajor set of amendments to the Registered Pension Schemes Manual. more
20 MarchFinal guidance from the Pensions Regulator on clearance.
17 DecemberGovernment announces further changes to the Financial Assistance Scheme. more
14 DecemberAppointed day under the Pensions Act 2007 (Commencement No. 2) Order 2007 (SI 2007/3512)
5 DecemberPensions Bill published and received first reading in the House of Commons. more
 Amendments made to the Registered Pension Schemes Manual (RPSM) mainly to bring into line with the Finance Act 2007. more
1 NovemberAppointed day under the Pensions Act 2007 (Commencement No. 1) Order 2007 (SI 2007/3063).
16 OctoberIntroduction of mandatory e-filing by HMRC. more
9 OctoberPre Budget Report contains several Simplification aspects more
1 OctoberAmendments to winding-up legislation in force more
26 SeptemberMost of remaining provisions of Pensions Act 2007 in force. more
11 SeptemberTPR publishes draft guidance on clearance. more
26 JulyPensions Act 2007 receives Royal Assent. more
25 JulyDeregulatory Review of Private Pensions published. more
19 JulyFinance Act 2007 receives Royal Assent. more
5 JuneThornton Review of Pensions Institutions published.
3 MayTPR issues guidance on scheme abandonment. more
25 AprilSet of changes to RPSM. more
6 AprilThe Registered Pension Schemes (Standard Lifetime and Annual Allowances) Order 2007 (SI 2007/494) sets the Allowances for tax years 2007/08 to 2010/11. more
1 AprilGN29: Occupational Pension Schemes - Advisors to the Trustees or a Participating Employer version 7.0 takes effect.
31 JanuaryGuidance confirms that an employer contribution will be deductible provided it is "wholly and exclusively" for the purposes of trade. more
25 JanuaryECJ judgment on case Carol Marilyn Robins and Others (Allied Steel and Wire Limited) v Secretary of State for Work and Pensions. more
24 JanuaryTPR Code of Practice No. 10 Modification of subsisting rights in effect. more
18 JanuaryGovernment opts to continue using an expected cost basis for future transfers from defined benefit occupational pension schemes more
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