Transfers

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Retirement Annuity Contracts (RAC)—older types of personal pension schemes

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

Retirement schemes for executives—UURBS, FURBS and EFRBS

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

Auto-enrolment—the transitional period for DB and hybrid schemes [Archived]

ARCHIVED. This Practice Note has been archived and is not maintained.As well as the option to postpone auto-enrolment, employers which operate defined...

The pre A-day pensions tax regime

The pensions tax regime under the Finance Act 2004 came into effect on 6 April 2006, otherwise known as A-day. The pre A-day regime may still be of...

Practice notes

What does ‘contracting-out’ mean for pension lawyers?

Interaction with the additional State pensionBefore 6 April 2016, there were two levels of State pension provision:•the basic State pension—this was a...

9th Nov

Practice notes

Pension attachment orders

The power to make pension attachment orders (previously referred to as earmarking orders) arises from the insertion of sections 25B–25D of the...

Produced in partnership with Rebecca Dziobon of Penningtons Manches Cooper 9th Nov

Practice notes

The Electricity Supply Pension Scheme

The Electricity Supply Pension Scheme (‘ESPS’) is a trust-based scheme established by the Electricity Council by a resolution dated 20 January 1983 as...

Produced in partnership with Gary Delderfield of Eversheds Sutherland 9th Nov

Practice notes

Pension bulk transfers—beginners’ guide

This guide is primarily aimed at trainees, newly qualified lawyers and other persons who are new to or unfamiliar with pensions law.THIS PRACTICE NOTE...

Produced in partnership with Wyn Derbyshire of gunnercooke LLP 9th Nov

Practice notes

Introduction to retained EU law

This Practice Note provides an introduction to retained EU law, which is an entirely new legal concept introduced to UK domestic law in preparation...

9th Nov

Brexit

Practice notes

Bridging pensions

Bridging pensions—backgroundBridging pensions are a form of pension provided by some (but not all) defined benefit occupational pension schemes in...

Produced in partnership with Wyn Derbyshire of gunnercooke LLP 9th Nov

Practice notes

Beddoe applications

When trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe application is the best...

Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Jovana Nedeljkov of Bankside Chambers 9th Nov

Practice notes

How to deal with Beckmann liabilities on a business sale

THIS PRACTICE NOTE APPLIES IN RELATION TO OCCUPATIONAL PENSION SCHEMESThis Practice Note applies to business sales which are subject to the Transfer...

9th Nov

Precedents

Execution clause—company—deed

Option 1—deed executed by a company under its common seal (model articles, where the authorised signatory is an...

9th Nov

In-house

Practice notes

How to deal with a section 75 debt—an introduction

THIS PRACTICE NOTE APPLIES IN RELATION TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMESThis Practice Note looks at the alternative methods available to...

9th Nov

Practice notes

Personal pension schemes—disclosure requirements before 6 April 2014 [Archived]

THIS PRACTICE NOTE APPLIES TO PERSONAL PENSION SCHEMES This Practice Note looks at the disclosure requirements that were applicable to trustees (or...

9th Nov

Practice notes

Calculating pension loss in employment tribunal claims

Pension loss will generally only arise in cases where an individual has lost their job and the pension provision that went with that job. An...

Produced in partnership with Keith Bryant QC of Outer Temple Chambers. 9th Nov

Precedents

Deed of substitution

Date: [insert date](1)[Name of Former Principal Employer](2)[Names of Trustees](3)[Name of the New Principal Employer]Deed of Substitution of...

Produced in partnership with Blake Morgan LLP 9th Nov

Precedents

Month definition

Month means a calendar month; Close This is a suggested definition for the term 'month', which...

9th Nov

Practice notes

Anti-franking

The conceptIt used to be the case that contracted-out salary-related (COSR) schemes could revalue a deferred member's guaranteed minimum pension (GMP)...

Produced in partnership with Peter White 9th Nov

Precedents

The employment contract—sample pensions clauses

The following pension clauses set out the pensions information to be included in an employment contract, depending on the type of...

Produced in partnership with Wyn Derbyshire of gunnercooke LLP 9th Nov

Most recent Transfers content

Practice notes

Individual transfers—DB occupational pension schemes

CORONAVIRUS (COVID-19) UPDATE: Until 30 June 2020, the Pensions Regulator (TPR) allowed trustees of DB schemes to suspend cash equivalent transfer...

2nd Dec

In-house

Practice notes

Transfers of Section 9(2B) rights and GMPs from 6 April 2016

Contracting-out on a salary-related basis (also known as defined benefit (DB) contracting-out) was abolished on 6 April 2016. Members of schemes that...

2nd Dec

Q&As

A pilot trust has been established to receive the death benefits from a retirement annuity contract (RAC). If the RAC funds are subsequently transferred to a self-invested pension plan (SIPP), could the pilot trust receive death benefits payable under the SIPP?

We have assumed that:‘…the member of the RAC has provided a written nomination to the trustees of the retirement annuity contract, requesting (but...

29th Nov

Precedents

Precedent Defined Benefit (DB) Transfer Form

[ ] PENSION SCHEMEREQUEST FOR TRANSFER OF BENEFITSName:_______________________________________Date of Birth:...

Produced in partnership with Caspar McConville of Baker McKenzie 25th Nov

Practice notes

Individual pension transfers—beginners’ guide

CORONAVIRUS (COVID-19) UPDATE: Until 30 June 2020, the Pensions Regulator (TPR) allowed trustees of DB schemes to suspend cash equivalent transfer...

Produced in partnership with Wyn Derbyshire of gunnercooke LLP 24th Nov

Practice notes

Individual transfers—DC occupational pension schemes

CORONAVIRUS (COVID-19) UPDATE: On 13 May 2020, the Pensions Regulator (TPR) updated its DC investment and transfer value guidance to set out its...

Produced in partnership with William Sutton of Reed Smith LLP 30th Oct

Precedents

Bulk Transfer Agreement

This Deed of Merger is made on the [insert day] day of [insert date] 2019Parties1[TRUSTEE OF TRANSFERRING SCHEME] (Company No. [ ]) whose registered...

Produced in partnership with Tim Smith of Herbert Smith Freehills 20th Oct

Practice notes

Trustee considerations on DB to DC pension transfers and conversions

CORONAVIRUS (COVID-19) UPDATE: Until 30 June 2020, the Pensions Regulator (TPR) allowed trustees of DB schemes to suspend cash equivalent transfer...

13th Oct

Practice notes

International pension transfers

CORONAVIRUS (COVID-19) UPDATE: Through Pension Schemes Newsletter 118 and Pension Schemes Newsletter 121, HMRC announced that it will cancel penalties...

Produced in partnership with Sean McNulty of Blake Morgan 13th Oct

Q&As

Would a member of a DC occupational pension scheme, who has pre-A Day scheme-specific lump sum protection of more than 25%, lose that protection if they designate funds into a flexi-access drawdown?

This Q&A covers the situation where there have not been any individual transfers by the relevant member of their benefits from the original defined...

28th Sep

Practice notes

Pension bulk transfers—beginners’ guide

This guide is primarily aimed at trainees, newly qualified lawyers and other persons who are new to or unfamiliar with pensions law.THIS PRACTICE NOTE...

26th Sep

Practice notes

Bulk transfers between occupational pension schemes—an introduction

IntroductionThis Practice Note considers bulk transfers between occupational pension schemes. A bulk transfer is the transfer of a group of members...

26th Sep

Practice notes

Advising on DB to DC transfers

CORONAVIRUS (COVID-19) UPDATE: Until 30 June 2020, the Pensions Regulator (TPR) allowed trustees of DB schemes to suspend cash equivalent transfer...

26th Sep

Practice notes

Requirement for appropriate independent advice on DB to DC transfers

FORTHCOMING DEVELOPMENT: In July 2019 the Pensions Administration Standards Association (PASA) DB Transfers Working Group released ‘Defined Benefit...

26th Sep

Practice notes

Automatic transfers

STOP-PRESS: Measures to introduce a system of automatic transfers (also known as ‘pot follows member’), whereby a pension pot would follow the member...

25th Sep

Practice notes