Types of pension arrangements

Types of pension arrangements guidance:

What is a cash balance scheme? At its simplest level, a cash balance pension scheme is an arrangement by which the member builds up a guaranteed cash sum or amount during...

Practice Note

FORTHCOMING DEVELOPMENT: After a first failed attempt to introduce a CDC framework (through the Pension Schemes Bill 2019), the Pension Schemes Bill 2020 was reintroduced...

Practice Note

ARCHIVED: This archived Practice Note provides information on the legal framework which had been put in place for collective defined contribution (CDC) schemes under the...

Practice Note

At the core of DB consolidation is the idea that scale matters, with the aim being to harness the benefits of scale within the occupational pension scheme regime to...

Practice Note

ARCHIVED: This archived Practice Note provides information on the legal framework which had been put in place under the Pension Schemes Act 2015 to enable the creation of...

Practice Note

What is defined ambition? One of the key principles of defined ambition is the idea of ‘risk sharing’ in the sense that neither the employer nor the...

Practice Note

The charities sector in the UK is significant in size. There is a wide range of pension provision across the sector. Many charities are facing financial pressures as a...

Practice Note

What is disguised remuneration? HMRC has, for many years, sought to ensure that the rewards gained from employment are properly subject to income tax and National...

Practice Note

The introduction of personal pensions in 1987 was heralded as offering new choices for self-employed and employed individuals. However, it soon became apparent that the...

Practice Note

What is a hybrid pension scheme? At present, the majority of pensions legislation defines types of occupational pension scheme in the UK on a binary basis by reference to...

Practice Note

Investment-regulated pension schemes (IRPSs) are a particular category of registered pension schemes that are subject to additional controls on the asset classes that can...

Practice Note

This Practice Note is a general introduction to master trust schemes, covering among other things the advantages of using such pension schemes, their typical structure...

Practice Note

The question of the nature of money purchase benefits has attracted considerable attention over recent years. Given the onerous and growing financial burdens that defined...

Practice Note

ARCHIVED. This Practice Note has been archived and is not maintained. This Practice Note looks at how pension schemes are affected by the revised statutory definition of...

Practice Note

This Practice Note provides guidance on: • the old state pension scheme for those reaching state retirement age prior to 6 April 2016, and • the new state pension scheme...

Practice Note

Personal pension schemes—central role in private pensions sector Personal pension schemes, in their various forms, play a central and important role in the UK private...

Practice Note

Just as executives tend to enjoy better salary packages than the ordinary workforce, so is it often the case that they receive better pension provision from their...

Practice Note

THIS PRACTICE NOTE APPLIES ONLY TO DEFINED BENEFIT AND HYBRID OCCUPATIONAL PENSION SCHEMES What is a 'sectionalised' pension scheme? A pension scheme can be structured in...

Practice Note

FORTHCOMING DEVELOPMENT: Following the publication of a discussion paper (DP18/1)on the effectiveness of competition in non-workplace pensions (including self-invested...

Practice Note

What is a SSAS? Small self-administered schemes (SSASs) are usually registered pension schemes that are set up to provide defined contribution (DC) benefits to a small...

Practice Note

FORTHCOMING DEVELOPMENT: Following the publication of a discussion paper (DP18/1)on the effectiveness of competition in non-workplace pensions (including stakeholder...

Practice Note

In this Practice Note, references to the National Employment Savings Trust (NEST) Order are to the National Employment Savings Trust Order 2010, SI 2010/917 applicable...

Practice Note

The Universities Superannuation Scheme (USS) is a private sector occupational pension scheme for higher education bodies. It provides benefits on a salary-related or...

Practice Note

Ways of accruing pension benefits There are a variety of possible pension arrangements for employees. The main options include: • occupational pension schemes • personal...

Practice Note

This guide is primarily aimed at trainees, newly qualified lawyers and other persons who are new to or unfamiliar with pensions law. A pension scheme is essentially a...

Practice Note
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