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Latest Pensions News

EU-UK Trade and Cooperation Agreement on track for ratification by February 2021 deadline, EU diplomat says

The following Financial Services news provides comprehensive and up to date legal information on EU-UK Trade and Cooperation Agreement on track for ratification by February 2021 deadline, EU diplomat says

MPs criticise ‘unfit’ FCA over its response to the British Steel Pension Scheme saga

The following Pensions news provides comprehensive and up to date legal information on MPs criticise ‘unfit’ FCA over its response to the British Steel Pension Scheme saga

Pensions after Brexit and the UK-EU trade deal

The following Pensions news provides comprehensive and up to date legal information on Pensions after Brexit and the UK-EU trade deal

Final wording—Recast Regulation on Insolvency

The following Banking & Finance news provides comprehensive and up to date legal information on Final wording—Recast Regulation on Insolvency

Featured Pensions content

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 This Practice Note has been archived and is not maintained.As well as the option to postpone auto-enrolment, employers which operate defined...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 12th Jan

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 12th Jan

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 12th Jan

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 12th Jan

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 Adele Isaacs of Bankside Chambers 12th Jan

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...

Produced in partnership with Ginevra Gatrell of gunnercooke LLP 12th Jan

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. 12th Jan

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 12th Jan

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 12th Jan

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 12th Jan

Most recent Trustees, governance and administration content

Practice notes

Investment powers and duties of pension trustees

CORONAVIRUS (COVID-19) UPDATE: The market volatility caused by coronavirus has led to an increase in DB scheme deficits (see News Analysis:...

25th Jan

Practice notes

Assessing and monitoring the employer covenant

CORONAVIRUS (COVID-19) UPDATE: Coronavirus has weakened the covenant of some sponsoring employers, particularly those in the hospitality and travel...

25th Jan

Practice notes

Sanctions and enforcement under the DPA 1998 [Archived]

ARCHIVED: This archived Practice Note provides information on the data protection regime before 25 May 2018 and reflects the position under the Data...

Produced in partnership with 5RB 25th Jan

Practice notes

Key definitions under the DPA 1998 [Archived]

ARCHIVED: This archived Practice Note provides information on the data protection regime before 25 May 2018 and reflects the position under the Data...

25th Jan

Practice notes

Data protection principles under the DPA 1998 [Archived]

ARCHIVED: This archived Practice Note provides information on the data protection regime before 25 May 2018 and reflects the position under the Data...

Produced in partnership with Pillsbury Winthrop Shaw Pittman LLP 25th Jan

Q&As

A member in a pension scheme has dementia. The member’s children are attorneys under a registered lasting power of attorney (LPA). The member’s wife has asked that the member’s pension now be paid into a joint account. The attorneys have been blocking this, but the member’s solicitors say the member has validly revoked the LPA and to support this they have produced a deed of revocation. If the LPA has been revoked, is there any way that the trustees of the pension scheme can take instructions from the children? Is it possible the revocation could be invalid?

The trustees of the pension scheme will be governed by the trust deed and rules of the scheme.The pension trust will require the trustees to pay any...

22nd Jan

Practice notes

Pension requirement for an effective system of governance—internal controls

CORONAVIRUS (COVID-19) UPDATE: As a result of the coronavirus pandemic, the Pensions Regulator (TPR) expects trustees to have appropriate monitoring...

22nd Jan

Practice notes

The Data Protection Act 1998 and pensions [Archived]

Before the EU General Data Protection Regulation came into force on 25 May 2018, the Data Protection Act 1998 (DPA 1998) outlined the data protection...

Produced in partnership with the Pensions and TMT teams of Pinsent Masons 20th Jan

Q&As

What is the impact of Brexit on international transfers of personal data?

This Q&A looks at the impact of Brexit on cross-border transfers of personal data involving the UK and EEA, under the General Data Protection...

20th Jan

Brexit

Precedents

Data protection under the EU GDPR—training materials

The training materials are customisable.Click the links below to download the training presentation and speaker notes.Contents•What is the EU...

20th Jan

Precedents

Privacy notice for pension trustees—GDPR and Data Protection Act 2018 compliant

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

19th Jan

Practice notes

UK GDPR and EU GDPR—transfers of personal data internationally and to international organisations

On 31 January 2020, the UK ceased to be an EU Member State and entered a Brexit implementation period. This Practice Note introduces the general...

19th Jan

Brexit

In-house

Practice notes

Ban on pensions cold-calling

Historically, regulation 21 of the Privacy and Electronic Communications (EC Directive) Regulations 2003, SI 2003/2426 (PECR Regulations) had...

18th Jan

Practice notes

Appointment, retirement and resignation of a director

This Practice Note focuses on the law and practice relating to the appointment of directors and how a director can retire or resign. It examines the...

18th Jan

In-house

Practice notes

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

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

16th Jan

Practice notes