The following Pensions practice note provides comprehensive and up to date legal information covering:
Coronavirus (COVID-19) represents a big challenge for employers participating in pension schemes.
This Practice Note covers the impact of coronavirus on such employers, as well as government measures which can relieve some of the pensions-related pressure on them (eg through the Coronavirus Job Retention Scheme (CJRS) which results in furloughed workers, the insolvency relaxations introduced by the Corporate Insolvency and Governance Act 2020 (CIGA 2020) and the Kickstart Scheme). Other measures such as the Job Support Scheme will not involve the government contributing to employer’s pension contributions.
This Practice Note also covers the pensions impact of emergency volunteering leave (EVL) and employers’ responsibility to initiate claims on the death of certain key workers under the NHS and Social Care Coronavirus Life Assurance Scheme 2020.
For information on the issues specific to scheme trustees, see Practice Note: Coronavirus (COVID-19)—the pensions implications for trustees.
The Pensions Regulator (TPR) has undertaken to take a proportionate and risk-based approach towards enforcement decisions, with the aim of helping to get employers back on track and supporting both employers and savers. This suggests TPR will show a degree of sympathy and flexibility towards struggling employers.
Consistently with this, TPR decided that:
until 30 June 2020, it would not take regulatory action in respect of a defined benefit (DB) scheme if a valuation submission was delayed by no more than
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Tipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities so that they could take steps to cover up their misdeeds or disappear.
When is quantum meruit and quantum valebat relevant?Claims in quantum meruit (value of services) and quantum valebat (value of goods) arise in diverse situations ranging from where contractual terms are silent on issues of payment to where there is no contract at all (Serck v Drake & Scull).General
Coronavirus (COVID-19): During the current pandemic, legislation and changes to practice and procedure in the courts and tribunals have been introduced, which affect the following:•proceedings for possession•forfeiture of business leases on the grounds of non-payment of rent•a landlord's right to
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