2020 – what a year!

Topic:

Hot topic

Date published:

Monday, 21 December 2020

Author:

Curtis Mitchell

If stockpiling toilet paper, PPE, viability of deficit reduction contributions (DRCs), remote working and lockdowns weren’t enough, I’ve been thinking about all the additional challenges pension trustees and scheme secretaries have had to contend with over the past few months:

• Covid-19 meant for many clients an in-depth assessment of ‘going concern’ became an unexpected hurdle for the annual audit of trustee report and accounts.
• Then there was the scramble to sign off accounts by the end of September to ensure implementation statements were not required for another year.
• For the schemes signed off since 1 October, we’ve had to figure out what goes into the implementation statement and what doesn’t!
• Since 10 December, we’ve all had to do the rather bizarre compliance and certificate email to CMA to meet the deadline of 7 January 2021…

The Pensions Regulator ended the year with the introduction of the ‘pledge’ campaign to combat pension scams encouraging trustees, providers and administrators to sign up with best practice. This seems to have hit exactly the right note and I’m pleased this is clearly going to keep us busy over the months to come.

It’s been a difficult year for many and I’m sure we will all be happy to see the back of it, but on behalf of everyone at PSGS, we hope you have a safe, relaxing festive season and we look forward to working with – and hopefully seeing – you in 2021!

Oh and I can't forget the virtual meeting catch phrase of 2020 has to be ”You’re on mute!”.

Back to opinions