The following Pensions Q&A produced in partnership with Alastair Meeks of Pinsent Masons provides comprehensive and up to date legal information covering:
The obligation to provide guaranteed minimum pensions (GMPs) is set out in sections 13(1) and 17(1) of the Pension Schemes Act 1993 (PSA 1993) (all the following section references are to that Act). Those two sections cover members’ GMPs and survivors’ GMPs respectively. Reference is made below just to members’ GMPs to avoid duplication, but the point is the same for both.
Section 13(1) provides:
‘Subject to the provisions of this Part, the scheme must—(a) provide for the earner to be entitled to a pension under the scheme if he attains pensionable age; and(b) contain a rule to the effect that the weekly rate of the pension will be not less than his guaranteed minimum (if any) under sections 14 to 16.’
‘Subject to the provisions of this Part, the scheme must—
(a) provide for the earner to be entitled to a pension under the scheme if he attains pensionable age; and
(b) contain a rule to the effect that the weekly rate of the pension will be not less than his guaranteed minimum (if any) under sections 14 to 16.’
That requirement is varied by s 13(1A) as follows:
‘But a scheme may be amended so as to omit provision of the kind specified in subsection (1)(a) and (b) if the conditions specified in section 24B are satisfied.’
So a scheme must provide a GMP unless PSA 1993, s 13(1A) is met, which requires the conditions specified in PSA 1993, s 24B to be met. Nothing in either
Free trials are only available to individuals based in the UK
Complete all the fields above to proceed to the next step.
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Entrapment There is no defence of entrapment in English law but it is considered to be an abuse of the process of the court for state agents to lure a person into committing illegal acts and then seek to prosecute him for doing so. The House of Lords said that, although entrapment is not a
Convention rights—structure of qualified rightsThe rights preserved under the European Convention on Human Rights (ECHR), as set out in the Human Rights Act 1998 Sch 1, can be broadly divided into three groups:•absolute rights—which cannot be interfered with by the state or derogated from even in a
Dawn raid—who can raid my organisation and why?IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional
Negligence—when is the duty of care breached?Having established that a duty of care exists (see Practice Note: Negligence—when does a duty of care arise?), it is then necessary to consider whether or not there has been a breach of that duty. This will depend on a number of factors outlined below and
0330 161 1234