Scheme amendment, restructuring and closure

Scheme amendment, restructuring and closure guidance:

STOP PRESS: On 13 July 2020, the Court of Appeal handed down its judgment in the further stage in the appeal in the case of Safeway Ltd v Newton [2020] EWCA Civ 869...

Practice Note

CORONAVIRUS (COVID-19) UPDATE: On 9 April 2020, the Pensions Regulator (TPR) published guidance which provides a regulatory easement for employers whereby TPR will not...

Practice Note

This Practice Note focuses on the considerations applicable on and from 6 April 2016, the date on which contracting-out on a salary-related basis (also known as DB...

Practice Note

Employees’ pensions rights under an occupational pension scheme can be categorised as: • pension rights arising under the trusts of the relevant pension scheme, and •...

Practice Note

Reducing the financial burden of defined benefit schemes on employers Recent years have seen many employers seeking to escape or limit their exposure to the rising costs...

Practice Note

THIS PRACTICE NOTE APPLIES TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMES Many employers operating defined benefit (DB) occupational pension schemes have sought to close...

Practice Note

THIS PRACTICE NOTE APPLIES TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMES In the current economic climate, an increasing number of companies are deciding to close their...

Practice Note

The purpose of this Practice Note is to provide an overview of defined benefit (DB) consolidation, including information on consolidation models, the development of a...

Practice Note

THIS PRACTICE NOTE APPLIES ONLY TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMES The increase in the number of underfunded defined benefit occupational pension schemes...

Practice Note

THIS PRACTICE NOTE APPLIES TO OCCUPATIONAL PENSION SCHEMES An amendment to an occupational pension scheme made using the amendment power written into the scheme's trust...

Practice Note

Pension schemes and their sponsoring employers are faced with a number of risks in relation to their defined benefit pension schemes, one of the most worrying of which is...

Practice Note

CORONAVIRUS (COVID-19) UPDATE: On 9 April 2020 the Pensions Regulator (TPR) published guidance which provides a regulatory easement for employers whereby TPR will not...

Practice Note

While pension scheme incentive exercises allow employers to manage and minimise liabilities under defined benefit (DB) schemes, such exercises present potential dangers...

Practice Note

THIS PRACTICE NOTE ONLY APPLIES TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMES For employers who operate more than one defined benefit occupational pension scheme within...

Practice Note

Employers with final salary pension schemes (a type of defined benefit scheme) have been looking for ways to reduce their exposure to financial liability and many have...

Practice Note

An employer may propose the restructuring of a defined benefit pension scheme for a variety of reasons. These include: • the need to ensure that the pension scheme...

Practice Note

Although each insurance company will have its own policy documentation, they usually include similar processes and provisions. Typically, the documentation will be made...

Practice Note

This Practice Note sets out some practical considerations for both trustees (and sponsoring employers) in operating a defined benefit (DB) pension scheme which has been...

Practice Note

THIS PRACTICE NOTE APPLIES IN RELATION TO OCCUPATIONAL PENSION SCHEMES The regime under sections 67–67I of the Pensions Act 1995 (PA 1995) (sometime referred to as the...

Practice Note

Demonstrating an employer has breached its duty of good faith is no easy matter. The implied duty of good faith (known as the implied duty of trust and confidence in the...

Practice Note

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...

Practice Note
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