Navigate the complexities of the revised pensions freedoms regime and the different circumstances of pension benefits, including periods of temporary absence and the indexation and reduction of pensions in payment.
The governance of occupational pension schemes is an area that’s expanded with the increased level of regulation. Our content helps practitioners navigate their way through the web of statutory and regulatory material.
The existence of pension arrangements can add complexity and risk to even the most straightforward of corporate transactions. Our content helps guide practitioners through the issues and how to deal with them.
Pensions is one of the most complex and technical areas of the law. And with new legislation, the advent of auto-enrolment and a move towards defined contribution schemes, it’s about to become even more challenging.
The Office of the Complaints Commissioner (OCC) has published an update on the British Steel Pension Scheme (BSPS), noting that during August 2024 it...
This week's edition of Pensions weekly highlights includes a review of key news stories, as well as dates for your diary and trackers....
The Pensions Regulator (TPR) may penalise and use enforcement action against governing bodies who fail to comply with their compliance and enforcement...
Law360: Pensioners need 60% more retirement savings to meet basic costs compared to just three years ago, according to a think tank's research...
Pensions analysis: This was an appeal by the sponsoring employer of the BBC Pension Scheme as to the proper interpretation of the fetter to the...
The scheme-specific funding regimeFORTHCOMING DEVELOPMENT: TPR is working on updating its guidance on assessing and monitoring the employer covenant....
ESG and stewardship issues in pensionsSTOP PRESS 1: On 28 March 2024, the Pensions Regulator (TPR)’s new General Code of Practice came into force,...
Execution of contracts—jurisdictional guideThis guide sets out the requirements for executing simple contracts in various international jurisdictions....
The status of EU law in the UK after Brexit [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note provides...
Retained EU law and assimilated lawThis Practice Note provides an overview of retained EU law as it applied from 2021–23, including the key...
Member-nominated trustees—invitation to nominateTo: the [active AND/OR deferred AND/OR pensioner] members [(the “Membersâ€)] of the [insert name of...
Standard order 2.1—financial remedy orderIn the Family Courtsitting at [court name]Case No: [case number][The Matrimonial Causes Act 1973ORThe...
Selection of member-nominated trustees—ballot formThe Scheme's arrangement for the selection and appointment of member-nominated trustees requires...
Salary sacrifice scheme—employee FAQs[For use only where the employee is foregoing salary for the following benefits that retain Tax and/or NICs...
Letter from employee to company confirming agreement to salary sacrifice[For use only where the employee is foregoing salary for the following...
Qualifying Recognised Overseas Pension Schemes (QROPS)Why use a QROPS?In practice, many Qualifying Recognised Overseas Pension Schemes (QROPSs) are...
Self-invested personal pensions (SIPPs)When personal pensions were first introduced in April 1988, they could only be established by authorised...
Retirement Annuity Contracts (RAC)—older types of personal pension schemesFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase...
Pension commencement lump sums (PCLSs)When a member of a pension scheme becomes entitled to receive their scheme benefits, they can usually take part...
Indexation and revaluation of pensions—changing from RPI to CPIFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal...
What does ‘contracting-out’ mean for pension lawyers?Interaction with the additional State pensionBefore 6 April 2016, there were two levels of State...
Defined benefit (DB) pension schemes—who owns the surplus?THIS PRACTICE NOTE RELATES TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMESOne of the most...
How is the National Employment Savings Trust (NEST) different from a typical occupational pension scheme?FORTHCOMING DEVELOPMENT: Section 10 of the...
Stakeholder pension schemes—the legal requirementsFORTHCOMING DEVELOPMENT: On 17 March 2021, the Pensions Regulator (TPR) launched a consultation on...
Tax treatment of pensions—an introductionFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age...
The Electricity Supply Pension SchemeFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA)...
Pensions and divorce in ScotlandThis Practice Note provides a high-level summary of pension sharing orders on divorce in Scotland as they relate to...
Pension bulk transfers—beginners’ guideThis guide is primarily aimed at trainees, newly qualified lawyers and other persons who are new to or...
Types of overseas pension schemesFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from...
Case tracker—forthcoming cases—pensionsThe entries in this tracker are organised by topic. These topics are listed in the Table of Contents (to the...
Dealing with pension scheme members who are insistent clientsWhat is an insistent client?The term ‘insistent client’ is commonly used to describe an...
Small self-administered schemes (SSASs)What is a SSAS?Small self-administered schemes (SSASs) are usually registered pension schemes that are set up...
Early leavers—revaluationFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57...
Money held on deposit to which interest is added – like a building society account.
The FAS was established in May 2004 and is intended to provide financial assistance to people whose defined benefit scheme wound up with insufficient assets to satisfy in full the scheme liabilities, but are not protected by the Pension Protection Fund.
HMRC rules state that the scheme administrator (your provider) must review the minimum and maximum amount you can take from your income withdrawal plan each year.