The following Pensions news provides comprehensive and up to date legal information on Government urged to act on critical pension transfer delays
The following Pensions news provides comprehensive and up to date legal information on TPR’s Annual Funding Statement issues covenant warning amid tariff wars
The following Pensions news provides comprehensive and up to date legal information on Government floats fix for spiraling number of small pension pots
Qualifying Recognised Overseas Pension Schemes (QROPS)Why use a QROPS?In practice, many Qualifying Recognised Overseas Pension Schemes (QROPSs) are...
Self-invested personal pensions (SIPPs)When personal pensions were first introduced in April 1988, they could only be established by authorised...
Retirement Annuity Contracts (RAC)—older types of personal pension schemesFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase...
Pension commencement lump sums (PCLSs)When a member of a pension scheme becomes entitled to receive their scheme benefits, they can usually take part...
Sectionalised pension schemesTHIS PRACTICE NOTE APPLIES ONLY TO DEFINED BENEFIT AND HYBRID OCCUPATIONAL PENSION SCHEMESWhat is a 'sectionalised' pension scheme?A pension scheme can be structured in a number of ways. For example, it may:•have more than one participating employer and provide for
How is the National Employment Savings Trust (NEST) different from a typical occupational pension scheme?FORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028 (save for members of the firefighters, police and
The National Employment Savings Trust (NEST) and NEST Corporation—the legal basis and structureIn this Practice Note, references to the National Employment Savings Trust (NEST) Order are to the National Employment Savings Trust Order 2010, SI 2010/917 applicable from 25 May 2018. References to the
Scotland—the process for applying for sequestrationSequestration in Scotland is the legal process by which an insolvent debtor’s estate is gathered in, realised and then distributed among their creditors by a trustee appointed for that purpose. The process requires that a formal award of
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