FORTHCOMING CHANGE: 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 armed forces public service pension schemes). The Finance Act 2022 will also give members of registered pension schemes a right to take their benefits before age 57, if on or before 4 November 2021 they either had an ‘unqualified right’ to take benefits or were in the process of a substantive transfer to a scheme offering an unqualified right to a protected pension age of less than 57 on or before 4 November 2021. To benefit from this new 2028 protection, the rules of the pension scheme must have included (on 11 February 2021) an unqualified right to take the entitlement to scheme benefits before age 57. For further information, see Practice Note: Increasing the normal minimum pension age (NMPA) to 57—pensions impact THIS PRACTICE NOTE APPLIES TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMES This Practice Note covers the considerations relevant

THIS PRACTICE NOTE APPLIES TO TRUST-BASED DEFINED CONTRIBUTION (DC) OCCUPATIONAL PENSION SCHEMES Statutory right to cash equivalent As with defined benefit (DB) occupational pension schemes, members of defined contribution (DC) occupational pension schemes have a statutory right to transfer the cash equivalent value of their benefits to another pension arrangement. The statutory right is principally contained in the sections 93–101 to the Pension Schemes Act 1993 (PSA 1993). The Occupational Pension Schemes (Transfer Values) Regulations 1996, SI 1996/1847 (the Transfer Regulations) contain further detail and the requirements for calculating a member's cash equivalent. Overriding nature of statutory right to transfer This right is an overriding statutory right (subject to the statutory conditions below). This is because the statutory right is explicitly stated to override any provision of a pension scheme’s trust deed and rules to the extent that those trust deed and rules conflict with that right. Some DC pension scheme rules may detail the statutory rules, whereas others may only cross-reference them or be silent on the issue of individual

An individual voluntary arrangement (IVA) is an alternative to bankruptcy whereby a debtor enters into a binding arrangement with his creditors to compromise his debts.

A contractual agreement entered into between an individual Debtor and their Creditors (and possibly with parties'>third parties) for a composition of that person’s debts or a scheme of arrangement (scheme) of their affairs.

Nature of an individual voluntary arrangement An individual voluntary arrangement (IVA) is an agreement entered into between an individual and their creditors (and possibly with third parties) for a composition of that person’s debts or a scheme of arrangement (scheme) of their affairs. The relevant provisions are found in Part VIII of the Insolvency Act 1986 (IA 1986). The type and content of the composition or scheme is open-ended and is a matter for the debtor and their creditors with the assistance of an insolvency practitioner (IP) (described as the ‘nominee’ before the IVA is approved, and usually the ‘supervisor’ thereafter). An IVA has a similar effect to a contract, the terms of which are found in the IVA proposal. A private contractual arrangement would however require the assent of all an individual’s creditors in order to become a globally binding agreement. This would obviously not be feasible in the large majority of cases. An IVA, by contrast, is even binding on those creditors who voted against the proposal (or who

The IVA process What to do? The steps to take Authority 1 Prepare the IVA proposal The debtor should provide an IVA proposal to the intended nominee (a licensed insolvency practitioner). Alternatively, the debtor should meet with the proposed nominee and provide details of their financial affairs and an outline of the proposal to creditors. The nominee will then draft as appropriate.The nominee must comply with Statement of Insolvency Practice (SIP) 3.1, a revised version of which came into force for nominees appointed on or after 1 March 2023—see News Analysis: LNB News 01/03/2023 13. Sections 256, 256 of the Insolvency Act 1986 (IA 1986)Insolvency Rules 1986, SI 1986/1925, r 8.3SIP 3.1 2 The contents of the IVA proposal An explanation should be included as to why the debtor believes the IVA is desirable together with details of the comparable outcome in a bankruptcy.The IVA proposal should include (but is not limited to) the following information:● the debtor’s assets and their estimated respective values● particulars of any other property other than the

From A-day tax relief on pension savings is subject to a lifetime allowance and an annual allowance. An individual's lifetime allowance is usually the standard lifetime allowance; however, subject to certain conditions, an individual may apply for this to be enhanced.

The grant of a lease extension is a disposal of an asset, since the freeholder will be giving up their right to the reversion for a longer period. Under section 60 of the Taxation of Chargeable Gains Act 1992 (TCGA 1992), property vested in bare trustees is treated as held by the beneficial owners. Therefore for capital gains

Execution of deeds—individuals An instrument is validly executed as a deed by an individual only if: • it makes clear on its face that it is intended to be a deed • it is signed by them in the presence of a witness who attests the signature or it is signed at their direction and in their presence and the presence of two witnesses who each attest the signature • it is delivered as a deed See Practice Notes: Deeds and Execution formalities—individuals. Execution of deeds—private trusts A trust has no legal identity, which means it cannot enter into contracts in its own name. Broadly speaking, a trust exists as an obligation between persons (trustees) to hold

The Federation Against Copyright Theft (FACT) has reported that Mark Gould, William Brown, Christopher Felvus, Steven Gordon and Peter Jolley have been jailed for their involvement in illegal streaming businesses. The men ran Flawless, Shared VPS and Optimal (also known as Cosmic), which were used to generate an excess of £7m in five years, by offering illegal access to watch Premier League matches, hundreds of world-wide channels and tens of thousands of on-demand films and TV shows. Gould, who was described as ‘the driving force of the conspiracy’ was sentenced to 11 years in prison. Both Brown and Gordon were found guilty of two counts of conspiracy to defraud and sentenced to four years and nine months, and five years and nine months respectively. Jolley was sentenced to five years and two months for two counts of conspiracy to defraud, and one count of money laundering, after concealing almost £500,000. Felvus pleaded guilty to two counts of conspiracy to defraud resulting in a sentence of three years and 11 months, and was also convicted of multiple unrelated offences, including being in possession of indecent child imagery, for which he received a custodial sentence and was placed on the sex offenders’ register for 10 years. A sixth defendant Zak Smith was also arrested for his involvement, however Smith has not been sentenced as he failed to appear for sentencing.

1. What is the applicable legislation? The main legislation applicable to foreign direct investment in Indonesia is Law No. 25 of 2007 on Capital Investment (the Investment Law), some of whose provisions have been amended by Law No. 6 of 2023 on the Stipulation of Government Regulation in Lieu of Law No. 2 of 2022 on Job Creation (the Omnibus Law). In addition to the Investment Law, the general investment regime applicable to foreign investment companies is also governed under Government Regulation No. 28 of 2025 on the Implementation of Risk-Based Business Licensing (GR 28/2025) and Minister of Investment and Downstream Industry/Head of the Investment Coordinating Board Regulation No. 5 of 2025 on Guidelines and Procedures for the Implementation of Risk-Based Business Licensing and Investment Facilities through the Integrated Electronic Business Licensing System (Online Single Submission) (BKPM Reg 5/2025). These regulations address the general licensing requirements

This table summarises all completed investigations by Indonesia’s competition authority (the Indonesia Competition Commission—the ICC) into alleged cartels, anti-competitive agreements and abuses of dominant positions since 2018. Note—only investigations that have been made public are included in this table. 2026 Investigations under Chapter III of Law Number 5 of 1999 Case name, companies under investigation and industry Issues Developments Online lending• 97 undertakings Restrictive agreement—price fixing • Infringement decision announced—26/03/2026; fines totalling IDR 755bn imposed Construction• 2 undertakings Restrictive agreement—bid rigging • 27/01/2026; fines totalling IDR 3bn imposed Investigations under Chapter V of Law Number 5 of 1999 The ICC has not yet issued any decisions under Chapter V in 2026 2025 Investigations under Chapter III of Law Number 5 of 1999 Case name, companies under investigation and industry Issues Developments MTU Engine Maintenance Tender•PT Rolls Royce Solution Indonesia• PT Dieselindo Utama Nusa Restrictive agreement—bid rigging • Infringement decision issued—30/12/2025; fines totalling IDR 2.5bn imposed Clean-water supply• Regional Public Company (Perumda) Amerta Dayan Gunung Drinking Water• PT Tiara Cipta Nirwana Restrictive agreement—bid rigging • Infringement decision issued—30/06/2025;