22 February 2021

As Winter turns to Spring, and the Pension Schemes Bill 2019/21 becomes the Pension Schemes Act 2021, it feels that this coming year can be one of progress for the pensions world after coping with the challenges of 2020.

Topics covered in this issue include last year’s highly significant case on GMP equalisation, Lloyds Banking Group Pensions Trustees Limited v Lloyds Bank plc (known as “Lloyds 2”) and the proposed requirements for trustees to consider (and report on) the impact of climate-related risks on their scheme.

We also look at the need for trustees to pay attention to the risk of a distressed employer and consider some ideas from the Institute and Faculty of Actuaries to improve trustee processes with a different approach to decision-making. In addition, we consider trustee protection, in this case indemnity insurance, and one of the partners in our pensions team gives his reflections on work and life during a pandemic.

Please do let us know if you have any questions or thoughts on this quarter’s newsletter you would like to share with us. 

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Key contact

Richard Knight

Richard Knight Partner

  • Head of Pensions Practice
  • Pensions Services
  • Pensions Legal Advice

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