Before 6 April 2015, members entitled to money purchase or defined contribution (DC) benefits had limited retirement options, namely: • getting a scheme pension •...
THIS PRACTICE NOTE APPLIES TO ALL OCCUPATIONAL PENSION SCHEMES Statutory requirement to increase pensions in payment Since 6 April 1997, there has been a statutory...
THIS PRACTICE NOTE APPLIES TO OCCUPATIONAL PENSION SCHEMES Subject to certain exceptions, legislation requires occupational pension schemes to increase pensions in...
THIS PRACTICE NOTE APPLIES TO OCCUPATIONAL PENSION SCHEMES (DEFINED BENEFIT AND MONEY PURCHASE) Protection of pension rights during periods of family leave Legislation...
The question of the nature of money purchase benefits has attracted considerable attention over recent years. Given the onerous and growing financial...
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 This Practice Note has been archived and is not maintained.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...
THIS PRACTICE NOTE APPLIES TO TRUST-BASED OCCUPATIONAL PENSION SCHEMES This Practice Note focuses on overpayments of benefits to scheme members. For information specific...
When a member of a pension scheme becomes entitled to receive their scheme benefits, they can usually take part as a tax-free lump sum. HMRC calls this a ‘pension...
Statutory minimum increase rates The table below summarises the current statutory minimum increase that occupational pension schemes must apply annually to...
This Practice Note provides an introduction to pension liberation, what it is, why it happens, its structures and characteristics, and considerations for the various...
THIS PRACTICE NOTE APPLIES TO OCCUPATIONAL PENSION SCHEMES This Practice Note explores the pension rights of same-sex spouses and civil partners, including the impact of...
Pension Schemes Act 2015 The Pension Schemes Act 2015 (PSA 2015) covers three main areas: • the new ‘defined ambition’ pensions • the provision of the ‘guidance...
As employers with defined benefit pension schemes are looking for ways to reduce their exposure to financial liability, many are altering their benefit structures,...
THIS PRACTICE NOTE APPLIES TO OCCUPATIONAL PENSION SCHEMES ONLY This Practice Note considers the extent to which accrued pension rights under registered occupational...
THIS PRACTICE NOTE APPLIES TO OCCUPATIONAL PENSION SCHEMES. There are no statutory requirements governing the treatment of members' pension rights during...
HM Revenue & Customs (HMRC) recognises that schemes could incur disproportionate costs in providing small pensions under registered pension schemes, so the legislation...
THIS PRACTICE NOTE LOOKS AT PENSIONS REDUCTION IN THE CONTEXT OF ONGOING REGISTERED DEFINED BENEFIT PENSION SCHEMES The reduction of a person’s pension entitlement (ie a...