The Society of Pension Professionals has criticised the government’s plans to introduce a 120 per cent general levy hike for defined benefit schemes.

On the go: Guidance from the Pensions Administration Standards Association on the tax implications of guaranteed minimum pensions equalisation is expected to be published next month, according to an update from the body’s dedicated working group.

On the go: The coronavirus pandemic has seen off the quarterly meeting cycle, with 80 per cent of trustees agreeing that ad hoc and online meetings are the way forward, according to new research.

On the go: The Pension Protection Fund has confirmed it will halve the levy for schemes with less than £20m in liabilities in order to “better reflect the risk posed by small schemes”, according to the final version of its 2021-22 levy rules.

The Department for Work and Pensions has proposed broadening the scope of climate risk analysis to cover not just the environmental impact of pension schemes’ portfolios, but also sponsor covenants and actuarial valuations.

On the go: Struggling high street retailer Debenhams has been brought out of administration by online ‘fast fashion’ outlet Boohoo, but the transaction is understood to leave its two pension schemes in the Pension Protection Fund.

Welcome to Pensions Expert’s roundup of a week that saw a belatedly peaceful, orderly transition of power from an irascible old man to a deeply forgetful older one, heralding a truly remarkable achievement for diversity and representation.

Podcast: New criminal provisions in the Pension Schemes Act are so broadly drafted that they could strangle legitimate business activity, potentially resulting in unnecessary bankruptcies. So says Arc Pensions Law partner Jane Kola, who, along with Society of Pension Professionals president James Riley, warn about the potentially dire consequences and call for more clarity from the regulator.