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Scheme amendment, closure and de-risking

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Latest Pensions News

End of insolvency temporary provisions—introduction of new temporary provisions

End of insolvency temporary provisions—introduction of new temporary provisions

The following Banking & Finance news provides comprehensive and up to date legal information on End of insolvency temporary provisions—introduction of new temporary provisions

Pensions weekly highlights—16 September 2021

Pensions weekly highlights—16 September 2021

The following Pensions news provides comprehensive and up to date legal information on Pensions weekly highlights—16 September 2021

DWP consultation on improving the notifiable events regime—increasing the powers of TPR through regulations

DWP consultation on improving the notifiable events regime—increasing the powers of TPR through regulations

The following Banking & Finance news provides comprehensive and up to date legal information on DWP consultation on improving the notifiable events regime—increasing the powers of TPR through regulations

Scheme unable to recover full overpayment because member failed to appreciate implications of incorrect benefit information (Mrs E CAS-30002–K6Z8)

Scheme unable to recover full overpayment because member failed to appreciate implications of incorrect benefit information (Mrs E CAS-30002–K6Z8)

The following Pensions news provides comprehensive and up to date legal information on Scheme unable to recover full overpayment because member failed to appreciate implications of incorrect benefit information (Mrs E CAS-30002–K6Z8)

Featured Pensions content

Pension commencement lump sums (PCLSs)

Pension commencement lump sums (PCLSs)

Pension commencement lump sums (PCLSs)When a member of a pension scheme becomes entitled to receive their scheme benefits, they can usually take part...

How is the National Employment Savings Trust (NEST) different from a typical occupational pension scheme?

How is the National Employment Savings Trust (NEST) different from a typical occupational pension scheme?

How is the National Employment Savings Trust (NEST) different from a typical occupational pension scheme?In this Practice Note, references to the...

The Financial Assistance Scheme—what are the available benefits?

The Financial Assistance Scheme—what are the available benefits?

The Financial Assistance Scheme—what are the available benefits?THIS PRACTICE NOTE APPLIES TO SCHEMES ENTERING THE FINANCIAL ASSISTANCE SCHEME FROM 1...

Retirement schemes for executives—UURBS, FURBS and EFRBS

Retirement schemes for executives—UURBS, FURBS and EFRBS

Retirement schemes for executives—UURBS, FURBS and EFRBSJust as executives tend to enjoy better salary packages than the ordinary workforce, so is it...

Practice notes

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

Auto-enrolment—the transitional period for DB and hybrid schemes [Archived]ARCHIVED. This Practice Note has been archived and is not maintained.As...
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19th May
Practice notes

The Post-2015 National Health Service Pension Scheme

The Post-2015 National Health Service Pension SchemeCORONAVIRUS (COVID-19) UPDATE: The Coronavirus Act 2020 suspends provisions of the...
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Produced in partnership with Paul Carney of Shoosmiths 19th May
Practice notes

Pension bulk transfers—beginners’ guide

Pension bulk transfers—beginners’ guideThis guide is primarily aimed at trainees, newly qualified lawyers and other persons who are new to or...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 19th May
Practice notes

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

What does ‘contracting-out’ mean for pension lawyers?Interaction with the additional State pensionBefore 6 April 2016, there were two levels of State...
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19th May
Practice notes

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...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 19th May
Practice notes

Fixed protection 2012 (FP 2012)

Fixed protection 2012 (FP 2012)THIS PRACTICE NOTE RELATES TO REGISTERED PENSION SCHEMESThe lifetime allowanceWhile there is no limit on the total...
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19th May
Practice notes

Corporate trustees—articles of association of a pension trustee company

Corporate trustees—articles of association of a pension trustee companyTHIS PRACTICE NOTE APPLIES TO TRUST-BASED OCCUPATIONAL PENSION...
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Produced in partnership with Mark Ridler of Hill Dickinson 19th May
Practice notes

Investment management agreements—trustee considerations

Investment management agreements—trustee considerationsThe management of assets belonging to another person on a discretionary basis is a 'regulated...
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Produced in partnership with Martin Scott of gunnercooke LLP 19th May
Practice notes

The pre A-day pensions tax regime

The pre A-day pensions tax regimeThe pensions tax regime under the Finance Act 2004 came into effect on 6 April 2006, otherwise known as A-day. The...
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Produced in partnership with Mark Smith, Georgina Wardrop and Angela Sharma of Taylor Wessing LLP 19th May
Practice notes

The Pension Protection Fund—compensation

The Pension Protection Fund—compensationCORONAVIRUS (COVID-19) UPDATE: As a result of coronavirus, the PPF decided to make certain changes to its...
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19th May
Practice notes

Serious ill-health lump sum payments

Serious ill-health lump sum paymentsWhen is a serious ill-health lump sum payable?Under the Finance Act 2004 (FA 2004), Sch 29, para 4, a scheme...
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19th May
Practice notes

Pensions Ombudsman determination tracker

Pensions Ombudsman determination trackerThe entries in this tracker are organised by topic, alphabetically. These topics are listed in the Table of...
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19th May
Practice notes

How to deal with Beckmann liabilities on a business sale

How to deal with Beckmann liabilities on a business saleTHIS PRACTICE NOTE APPLIES IN RELATION TO OCCUPATIONAL PENSION SCHEMESThis Practice Note...
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Produced in partnership with Ginevra Gatrell of gunnercooke LLP 19th May
Practice notes

TUPE and Beckmann—the pensions exception

TUPE and Beckmann—the pensions exceptionBeckmann liabilities are liabilities in respect of occupational pension benefits other than benefits relating...
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19th May
Practice notes

Auto-enrolment—certification of DC schemes

Auto-enrolment—certification of DC schemesCORONAVIRUS (COVID-19) UPDATE: On 9 April 2020 the Pensions Regulator (TPR) published ‘Automatic enrolment...
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19th May
Practice notes

Anti-franking

Anti-frankingThe conceptIt used to be the case that contracted-out salary-related (COSR) schemes could revalue a deferred member's guaranteed minimum...
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Produced in partnership with Peter White 19th May

Most recent Scheme amendment, closure and de-risking content

Practice notes

Running a closed defined benefit scheme

Running a closed defined benefit schemeThis Practice Note sets out some practical considerations for both trustees (and sponsoring employers) in...
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Produced in partnership with Tyron Potts of Barnett Waddingham LLP 15th Aug
Practice notes

When can pensions be reduced?

When can pensions be reduced?THIS PRACTICE NOTE LOOKS AT PENSIONS REDUCTION IN THE CONTEXT OF ONGOING REGISTERED DEFINED BENEFIT PENSION SCHEMESThe...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 15th Aug
Practice notes

Interpretation of restrictions on pension scheme amendment powers

Interpretation of restrictions on pension scheme amendment powersTHIS PRACTICE NOTE APPLIES TO OCCUPATIONAL PENSION SCHEMESAn amendment to an...
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Produced in partnership with Chris Ransom of CMS and Kate Richards of CMS 15th Aug
Practice notes

Longevity swaps

Longevity swapsFORTHCOMING DEVELOPMENT: On 25 November 2020 the government and the UK Statistics Authority (UKSA) published their response to their...
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Produced in partnership with India Trusselle and Stephen Walsh of Mayer Brown and Stephen Woods of Pinsent Masons 15th Aug
Practice notes

Closing a pension scheme to future accrual—trustee considerations

Closing a pension scheme to future accrual—trustee considerationsTHIS PRACTICE NOTE APPLIES TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMESIn the...
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15th Aug
Practice notes

Preserving a final salary link—what does it mean?

Preserving a final salary link—what does it mean?Employers with final salary pension schemes (a type of defined benefit scheme) have been looking for...
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Produced in partnership with Barry Gibb of Hill Dickinson LLP 15th Aug
Practice notes

Pension scheme mergers—considerations for employers and trustees

Pension scheme mergers—considerations for employers and trusteesTHIS PRACTICE NOTE ONLY APPLIES TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMESFor...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 15th Aug
Practice notes

Reviewing and negotiating pension buy-in and buy-out policies

Reviewing and negotiating pension buy-in and buy-out policiesAlthough each insurance company will have its own policy documentation, they usually...
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Produced in partnership with Mark Ridler of Hill Dickinson 15th Aug
Practice notes

Buying out Section 9(2B) rights and GMPs from 6 April 2016

Buying out Section 9(2B) rights and GMPs from 6 April 2016This Practice Note focuses on the considerations applicable on and from 6 April 2016 (the...
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15th Aug
Practice notes

Pension scheme incentive exercises

Pension scheme incentive exercisesWhile pension scheme incentive exercises allow employers to manage and minimise liabilities under defined benefit...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 15th Aug
Practice notes

Changing employees’ pension arrangements by contractual variation

Changing employees’ pension arrangements by contractual variationEmployees’ pensions rights under an occupational pension scheme can be categorised...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 15th Aug
Practice notes

Pension consultation requirements

Pension consultation requirementsCORONAVIRUS (COVID-19) UPDATE: On 9 April 2020 the Pensions Regulator (TPR) published guidance which provides a...
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15th Aug
Practice notes

Restructuring defined benefit schemes

Restructuring defined benefit schemesAn employer may propose the restructuring of a defined benefit pension scheme for a variety of reasons. These...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 15th Aug
Practice notes

Amending the amendment power in a pension scheme and making retrospective amendments

Amending the amendment power in a pension scheme and making retrospective amendmentsTHIS PRACTICE NOTE APPLIES TO OCCUPATIONAL PENSION SCHEMESThis...
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Produced in partnership with Chris Ransom of CMS and Kate Richards of CMS 15th Aug
Practice notes

The implied duty of trust and confidence for pension lawyers

The implied duty of trust and confidence for pension lawyersDemonstrating an employer has breached its duty of good faith is no easy matter.The...
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Produced in partnership with Clive Weber of Wedlake Bell 15th Aug
Practice notes

Amendment of occupational pension schemes—employer and trustee considerations

Amendment of occupational pension schemes—employer and trustee considerationsCORONAVIRUS (COVID-19) UPDATE: On 9 April 2020, the Pensions Regulator...
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15th Aug
Practice notes

Statutory restrictions on amendments—the section 67 regime

Statutory restrictions on amendments—the section 67 regimeTHIS PRACTICE NOTE APPLIES IN RELATION TO OCCUPATIONAL PENSION SCHEMESThe regime under...
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15th Aug
Practice notes

De-risking—pension buy-outs and buy-ins

De-risking—pension buy-outs and buy-insTHIS PRACTICE NOTE APPLIES ONLY TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMESThe increase in the number of...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 15th Aug
Practice notes

Changing from final salary to career average accrual rates

Changing from final salary to career average accrual ratesReducing the financial burden of defined benefit schemes on employersRecent years have seen...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 15th Aug
Practice notes

Defined benefit (DB) consolidation—what are DB superfunds?

Defined benefit (DB) consolidation—what are DB superfunds?The purpose of this Practice Note is to provide an overview of defined benefit (DB)...
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Produced in partnership with Camilla Barry of Macfarlanes 15th Aug

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Subrogation in insurance and reinsuranceWhat is the right of subrogation?In the context of insurance and reinsurance, the right of subrogation entitles an insurer or reinsurer, having indemnified the (re)insured, to ‘step into its shoes’ to bring an action in the (re)insured’s name. For the purpose

Arbitration agreements—definition, purpose and interpretation

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Arbitration agreements—definition, purpose and interpretationThis Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international

Derivative claim—what it is and when to use it

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