The following Pensions news provides comprehensive and up to date legal information on Government urged to act on critical pension transfer delays
The following Pensions news provides comprehensive and up to date legal information on TPR’s Annual Funding Statement issues covenant warning amid tariff wars
The following Pensions news provides comprehensive and up to date legal information on Government floats fix for spiraling number of small pension pots
Qualifying Recognised Overseas Pension Schemes (QROPS)Why use a QROPS?In practice, many Qualifying Recognised Overseas Pension Schemes (QROPSs) are...
Self-invested personal pensions (SIPPs)When personal pensions were first introduced in April 1988, they could only be established by authorised...
Retirement Annuity Contracts (RAC)—older types of personal pension schemesFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase...
Pension commencement lump sums (PCLSs)When a member of a pension scheme becomes entitled to receive their scheme benefits, they can usually take part...
Pension increases and revaluation—statutory minimumStatutory minimum increase ratesThe table below summarises the current statutory minimum increase that occupational pension schemes must apply annually to each tranche of pension.Period of pensionable service to which pension is attributable (or, in
Micklefield clausesWhat is a Micklefield clause?It is common for employee share plans to provide that, on termination of employment (or when an employee is given or receives notice of termination of employment), subsisting share awards will be forfeited and subsisting share options will lapse.It is
What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a
Early leavers—preservationFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028 (save for members of the firefighters, police and armed forces public service pension schemes).The Finance Act 2022 will also give
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