Alistair Hill

This Practice Note explores the key features of group personal pension (GPP) schemes (a type of defined contribution (DC) scheme often referred to as a contract-based scheme), including their distinction from occupational pension schemes and other personal pension schemes and the advantages and disadvantages to employers of using such schemes for the provision of pension benefits for employees.

This Practice Note looks at investment-regulated pension schemes (IRPSs), a particular category of registered pension schemes introduced by the Finance Act 2004 that are subject to additional controls on the asset classes that can be held as investments. In particular, this Practice Note covers what an IRPS is, the meaning of taxable property (residential property and tangible moveable property), the circumstances in which taxable property is held directly and indirectly, the circumstances in which indirect holdings constitute genuinely diverse commercial vehicles, and the tax charges that apply where an IRPS acquires a direct or an indirect holding in taxable property which is not held through a genuinely diverse commercial vehicle.

This Practice Note looks at the framework surrounding investments in personal pension schemes (sometimes referred to as contract-based schemes). In particular, this note looks at the tax treatment of investment income and gains, and tax-related investment restrictions, including the impact of provisions relating to unauthorised member payments.

This Practice Note focuses on the key aspects of personal pension schemes (a type of defined contribution (DC) scheme), including their development, registration requirements, contributions and tax relief framework, investments, benefits, transfer values and disclosure requirements.

This Practice Note looks at self-invested personal pensions (SIPPs), in particular how they are established, the governing documentation, the investment possibilities and restrictions, and what is classified as taxable property. It also looks at some tax cases involving investments in SIPPs.

This Practice Note provides an introduction to the statutory framework and operation of stakeholder pension schemes (a type of defined contribution (DC) scheme) after 1 October 2012. In particular, this Practice Note looks at employers’ remaining duties in relation to stakeholder schemes, eligibility and contribution considerations, registration requirements, permitted charges and enforcement issues.

ARCHIVED: This archived Practice Note provides an introduction to the statutory framework and operation of stakeholder pension schemes (a type of defined contribution (DC) scheme) before 1 October 2012. In particular, this Practice Note looks at the duties employers were under in relation to stakeholder schemes before that date, exemptions to those duties, eligibility and contribution considerations, registration requirements, permitted charges and enforcement issues.

This Practice Note looks at transfers to and from personal pension schemes (being contract-based pension schemes), including the statutory right to transfer, cash equivalent transfer value (CETV) legislation, non-statutory transfers, the concept of ‘recognised transfer’, transfer due diligence, additional requirements for transfers of safeguarded-flexible benefits, the tax treatment of transfers and other miscellaneous points (eg transfers without member consent, best practice concerning timescales of transfers).

This Practice Note covers the different types of overseas pension schemes, including Qualifying Non-UK Pension Schemes (QNUPS) and Recognised Overseas Pension Schemes (ROPS). This Practice Note also looks at the UK tax treatment of overseas pension schemes and overseas members or employees. While this Practice Note also refers to Qualifying Recognised Overseas Pension Schemes (QROPS), such schemes are detailed in another Practice Note. 

This Practice Note looks at legal and practical issues that arise on the winding up of a personal pension scheme by its provider, scheme administrator and any trustee.

This Overview provides an outline of the various types of personal pension schemes, which include group personal pensions (GPPs), stakeholder pension schemes, self-invested personal pensions (SIPPs), investment-regulated pension schemes (IRPSs), and legacy arrangements (such as retirement annuity contracts).