Yesterday the Chancellor Jeremy Hunt announced reforms to pension provision in the UK. Whilst we're still working through the detail - of which there's a lot - the proposals in general amount to a call for the pensions industry to 'up its game' further. In our view, underpinning high standards of governance whilst simultaneously extending investment opportunity will be beneficial for pension savers.

Initial observations have been:

*A warm welcome for proposals to maintain and enhance standards of trusteeship, providing real value to Trustee Boards

*The further development of Collective Defined Contribution pension provision

*The facilitating of controlled investment for pension schemes and providers into private markets

*Continued discussion on the use of surplus in DB schemes - see Law Deb's recent 'flagship' debate where competing viewpoints were presented by industry experts

View the recording of the LawDeb Pensions Debate which focused on trapped surplus here: https://www.lawdebenture.com/news/another-entertaining-lawdeb-pensions-debate-for-2023-on-the-topic-of-trapped-surpluses

Law Debenture has been providing independent professional pensions trusteeship for over 50 years, taking on its first client in 1969. Providing high quality services to our clients is at the heart of our offering.

Our team of 55+ pensions professionals - accredited trustees and pensions executives - are appointed to over 200 schemes with £325 billion in assets under trusteeship. As the market and regulations evolve, we respond to our clients' needs by providing support as chair, co-trustee and corporate sole trustee (CST) as well as governance support including pensions management, secretarial, project management and investment oversight.

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