Early retirement definition

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Pension issues on a TUPE transfer—checklist

Pension issues on a TUPE transfer—checklist In this Checklist, references to 'transferring employees' are to employees of an undertaking or service provider whose employment is intended to transfer under the operation of the Transfer of Undertakings (Protection of Employment) Regulations 2006, SI 2006/246 (TUPE). When does TUPE apply? The Transfer of Undertakings (Protection of Employment) Regulations 2006, SI 2006/246 (TUPE), which have been in force since 6 April 2006, apply where there is a 'relevant transfer'. This covers: • business transfers—a transfer of an undertaking, business or part of an undertaking or business, situated immediately before the transfer in the United Kingdom to another person where there is a transfer of an economic entity which retains its identity • a service provision change—involving a change in the provider of a service, ie a client 'outsourcing' work to a contractor (first generation outsourcing), bringing that work back in-house ('insourcing') or re-assigning that work to another contractor (second generation outsourcing), where certain conditions are satisfied. The supply of goods for the client's...

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Ill-health early retirement—decision making and exercise of discretion

THIS PRACTICE NOTE APPLIES TO REGISTERED OCCUPATIONAL PENSION SCHEMESThe scheme rulesThe ill-health early retirement provisions of trust-based occupational pension schemes commonly confer decision-making powers on their trustees or sponsoring employers, or both. In some cases, the decision making will be limited to deciding whether the ill-health test set out in the scheme rules is satisfied. In other cases, the ill-health provisions may have a discretionary element in terms of deciding whether to grant an ill-health pension to a member.The definitions and scope of the ill-health provisions will vary between schemes an issues may arise in interpreting those provisions properly. For further information, see Practice Note: Ill-health early retirement—Interpreting the scheme rules.The relevant decision maker must consider each application on a case-by-case basis.The ill-health ruleOn receipt of an application for ill-health early retirement, the decision maker must first consult the relevant provisions in the scheme's governing documentation. It is essential to ascertain who decides whether a member is granted ill-health early retirement benefits.To ensure that an ill-health pension from a registered...

Ill-health early retirement—interpreting the scheme rules

STOP PRESS: On 28 March 2024, the Pensions Regulator (TPR)’s new General Code of Practice came into force, through the Pensions Act 2004 (General Code of Practice) (Appointed Day, Amendment and Revocations) Order 2024, SI 2024/431. The General Code merges and updates ten of TPR’s existing codes of practice into a single code made of ‘51 shorter, topic-based modules’. TPR say this new format will make it easier for governing bodies to find TPR’s expectations and certify whether they meet them. The ten codes of practice affected are those relating to reporting breaches of the law, early leavers, late payment of contributions, trustee knowledge and understanding, MNTs/MNDs, internal controls, dispute resolution—reasonable periods, DC governance and public sector governance.Among other things, the General Code of Practice includes a module on trustee remuneration and sets out TPR's expectations on administration and maintaining an effective system of governance (ESOG), as required by the Occupational Pension Schemes (Governance) (Amendment) Regulations 2018, SI 2018/1103 (which implement IORP II). Scheme governing bodies will be expected to...

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Policy and procedure—sickness and attendance (short form)

Policy and procedure—sickness and attendance (short form) 1 Policy 1.1 We are committed to ensuring that our employees attend work whenever they are fit for work. However, we also recognises that people do become ill and, where this is the case, will, through consultation with you and medical advisers when appropriate, manage such absence with the ultimate aim of getting you back to work as soon as possible, with appropriate and reasonable assistance from us to achieve that aim. This policy sets out the expected steps in managing sickness and attendance but we may use a different procedure or take additional steps as required in individual cases. 1.2 Certain parts of this policy are contractual requirements with which you must comply. This policy is not otherwise contractual, does not form part of any employee’s contract of employment and we may amend it at any time. 1.3 This policy applies to all employees and workers except agency workers, consultants, self-employed contractors[, volunteers] [, interns] and casual workers....

Medical report during employment (employer’s doctor)—application for report

Medical report during employment (employer’s doctor)—application for report [insert date] [insert name and address of doctor] Private and confidential Dear [insert doctor’s name] Request for medical report on [insert employee’s name and date of birth] We are writing to apply for a report on the medical condition of our employee, [insert name]. [Name of employee] has worked with us since [insert date] as a [insert job title][ and we enclose a copy of their job description]. We need this report on [Insert name of employee] in order to [assess their fitness for and likely return to work AND/OR establish if there is any underlying health reason for their frequent absences from work AND/OR plan the work in their department, and assess the impact of their absence from or resumption of duties on workflow and resources AND/OR assess the effect of their condition on their day-to-day activities AND/OR consider the range of reasonable adjustments we may need to make AND/OR consider any short-term measures we can put in place...

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Transferred-in service does not count towards award of unreduced early retirement pension (Mr Y PO-22720)

Pensions analysis: In the determination of Mr Y (PO-22720) the Deputy Pensions Ombudsman rejected a complaint that a member could rely on incorrect information from the trustees in order to claim an unreduced early retirement pension. The incorrect information could not override the meaning of the scheme’s rules which provided for a different interpretation of pensionable service for an award of unreduced early retirement pension. The settlement offer of £1500 was adequate to compensate Mr Y for the distress and inconvenience he had suffered as a result of receiving incorrect information. Martin Scott of gunnercooke LLP looks at the decision.

No obligation on trustee to inform member he would not benefit from payment of additional pension contributions in the event of redundancy (Mr L PO-23156)

Pensions analysis: In this determination, a pension scheme member complained that his scheme’s trustee should have warned him about the consequences of paying additional contributions to secure a normal retirement age (NRA) of 60 in the event of redundancy. Wyn Derbyshire of gunnercooke LLP looks at the decision.