Pensions—general considerations for employment lawyers
Pensions—general considerations for employment lawyers

The following Employment practice note provides comprehensive and up to date legal information covering:

  • Pensions—general considerations for employment lawyers
  • Relevant European legislation
  • Brexit
  • The auto-enrolment duty
  • Types of pension schemes
  • Occupational pension schemes
  • Final salary schemes
  • Money purchase schemes
  • Hybrid schemes
  • AVCs and purchasing extra years
  • More...

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 arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: Brexit and IP completion day—implications for employment lawyers.

Payment into pension schemes registered with Her Majesty's Revenue and Customs has significant tax advantages for both employers and employees: employees obtain income tax relief on their contributions and employers obtain corporation tax relief. Pension schemes are also a way of attracting and retaining employees.

This Practice Note provides an overview of some of the key pensions issues that an employment lawyer will typically encounter and to signpost more detailed content available. It is not intended to provide a comprehensive analysis of the legal and practice issues.

For details of the ‘beginners' guides’ to pensions that are available, see: Pensions beginners’ guides—overview.

Relevant European legislation

Under European law, pension benefits are considered to be deferred pay, so they are subject to the principle of 'equal pay for equal work'. Men and women must have equal access to the scheme and equal benefits within the scheme.

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