This edition of the Pensions Law Review examines:

The effect of the current economic situation on pension schemes and the Pension Regulator's statement to trustees about current financial pressures;

The Pension Regulator's guidance for trustees and employes on member communications;

The Department for Work and Pensions' informal consultation on employer debt in corporate restructurings;

Changes to the Pension Regulator's contribution notice and financial support direction powers (the "moral hazard" powers);

The Department for Work and Pensions' consultation on draft regulations that will allow contracted-out pension schemes to convert members' guaranteed minimum pensions (GMPs) to scheme benefits;

The Pension Regulator's guidance on conflicts of interest; and

The case of Kemp v Sims (2008) in which a pension scheme trustee was held personally liable for breach of trust having persuaded his co-trustees to pay a demutualisation payment in respect of the scheme's investments to the employer as a return of premium.