The UK has chosen to leave the EU. Before the referendum, we considered in detail the potential impact of Brexit on the UK pensions landscape, highlighting a number of areas of uncertainty for employers, trustees and insurers. These areas remain no less clear following the referendum, as intense debate surrounds the timing and nature of any exit deal and markets continue to experience significant volatility. However, the key message is that there has been no immediate change to the legal status of the UK and the EU as a result of the referendum, and that the many provisions of EU law that affect UK pension schemes will continue, for now, to apply. In this update, we provide an overview of how the decision by the UK to leave the EU may impact the pensions field.
You can read the full Brexit post referendum pensions bulletin here.