gunnercooke LLP

This Practice Note covers the statutory investment restrictions applicable to registered occupational pension schemes investing in the scheme’s sponsoring employer or in parties connected or associated with the employer (known as employer-related investment (ERI)). Subject to certain exceptions, no more than 5% of a registered occupational pension scheme’s assets may at any time be invested in employer-related investments. This Practice Note gives consideration of the issues including the nature and scope of the restrictions, the statutory definition of ‘employer-related investment’, applicable penalties and reporting requirements, as well as the Pensions Regulator’s (TPR’s) approach to breaches of the statutory restriction on employer-related investments.

This Practice Note discusses whether the Pensions Regulator can enforce contribution notices and financial support directions outside of the UK.

This Practice Note covers enhanced protection which is one of the earliest forms of allowance protection (introduced on A-day). Among other things, this Practice Note covers the interaction of enhanced protection with primary protection, the application process, auto-enrolment requirements and the loss of enhanced protection.

This Practice Note considers the application of estoppel in a pensions context. In particular, it distinguishes between the main doctrine of estoppel and estoppel by representation, it considers the difficulty of relying on a scheme’s explanatory literature and making a claim on behalf of a group of members. Finally, it looks at examples of successful estoppel cases.

This Practice Note covers fixed protection 2014, which is ones of the forms of lifetime allowance protection. Among other things, this Practice Note covers the application process, how fixed protection can be lost, the impact of pension debits on divorce, lump sum death benefits and auto-enrolment requirements.

This Practice Note covers fixed protection 2016 (FP 2016 or FP16), which is one of the forms of lifetime allowance protection. Among other things, this Practice Note covers the application process, how fixed protection 2016 can be lost, the impact of pension debits on divorce, lump sum death benefits and auto-enrolment requirements.

This Practice Note focuses on flexible retirement for employees who are members of registered occupational pension schemes. In particular this Practice Note considers the legislative framework for flexible retirement before and after 6 April 2011 (including the impact of the removal of the default retirement age exception on that date), age-discrimination and objective justification issues in relation to pensions for employers, the impact of the pensions auto-enrolment regime, the potential loss of transitional protection which flexible retirement may cause, and the life cover exemption.

This Practice Note looks at the considerations relevant to trustees of occupational pension schemes and/or employers required to make decisions in relation to members’ ill-health early retirement requests. This includes factors to consider before the decision-makers can exercise any discretion they may have, the extent to which employers should provide information to the member, considerations relevant to medical evidence, serious ill-health lump sums, how decisions should be recorded and circumstances where decisions can be challenged.

This Practice Note covers the various issues that may arise when interpreting scheme rules of a registered occupational pension scheme for the purpose of determining whether ill-health benefits should be granted to a member. This includes issues arising out of any divergence with the Finance Act 2004 definition of ill-health and interpretational issues derived from requirements in the scheme rules for the member to have ‘retired’ or be unable to work, as well as medical evidence requirements.

This Practice Note looks at what is meant by the term ‘independent trustee’ in a pensions context, how such trustees are appointed to an occupational pension scheme, the benefit they can bring to a scheme and the conditions to satisfy to remain on the Pensions Regulator’s trustee register.

This Practice Note explains the impact of the statutory change in the inflation measure from the Retail Price Index (RPI) to the Consumer Price Index (CPI) for the purpose of the indexation (ie increase) and revaluation of pensions, how the change was implemented, the interaction of the change with pension scheme rules and member communications, and the extent to which it is possible to amend the scheme rules in instances where RPI is hardwired into the rules. This Practice Note takes account of guidance provided by case law and Pensions Ombudsman determinations.

This Practice Note provides an introduction for persons who are new to pensions law to the different types of individual pension transfers which can occur, including from defined benefit (DB) schemes, defined contribution (DC) schemes and personal pension schemes, as well as transfers to and from overseas pension schemes, and transfers of contracted-out rights.

This Practice Note covers the individual protection 2016 (IP 2016 or IP16) regime introduced to reflect the reduction in lifetime allowance (LTA) from £1.25m to £1m from 6 April 2016, the benefits of IP 2016 (both before and after 6 April 2024), its features, its statutory regime, how to apply for IP 2016 and related timing issues.

Until 5 April 2027, unused pension funds and pension death benefits are generally outside the scope of inheritance tax (IHT) and do not form part of the deceased member’s estate where the scheme trustees retain discretion over their distribution. However, IHT may apply where benefits are payable to, or can be directed by, the member or their estate. For further information, see Practice Note: Inheritance tax and pensions.From 6 April 2027, most unused pension funds and pension death benefits will be subject to IHT by being included in the deceased member’s estate, regardless of whether or not trustees have discretion over death benefit payments.This change was first announced in the Autumn Budget of October 2024, followed by a technical consultation, and was subsequently confirmed in July 2025 through the publication of a consultation response, draft legislation and an HMRC policy paper (that was later updated in November 2025).The consultation led to two key changes being made to the proposals initially consulted on:•IHT exemptions

This Practice Note relates to the payment of employer and member contributions to workplace pension schemes and covers the legislative requirements on employers to make contributions on behalf of their employees, time limits for making payments, reporting obligations and penalties for late payments of contributions.

This Practice Note focuses on the different forms of tax relief (whether income tax relief, national insurance contribution relief or corporate tax relief) available in respect of member (employee) and employer contributions paid to registered pension schemes. This Practice Note also looks at the different ways in which a member can claim income tax relief on member contributions and the tax treatment of employer contributions made on termination of the member’s employment.

This Practice Note looks at the statutory definition of money purchase benefits in the Pension Schemes Act 1993, s 181, the impact of the KPMG case and the Bridge case on that definition, and the government’s amendment of the definition through the Pensions Act 2011, s 29.

This Practice Note considers the cases in which TPR (TPR) exercised, or considered exercising, its moral hazard (anti-avoidance) powers (ie contribution notices and financial support directions) and explores the themes which may be drawn from these cases.

This Practice Note focuses on the issue of the overpayment of pension and lump sum benefits by trustees of occupational pension schemes, looks at the methods of recovering benefit overpayments, and examines the practical and legal difficulties that can arise when trustees seek to recover overpayments. It also covers the defences that members can use against recovery claims.

This Practice Note focuses on the various ways in which pensions disputes may arise in respect of occupational and personal pension schemes (eg by way of a complaint to an employer, scheme trustees and/or the pensions provider or by bringing a court claim) and, depending on the type of scheme the dispute relates to, the avenues available to deal with such disputes.