THIS PRACTICE NOTE APPLIES IN RELATION TO OCCUPATIONAL AND PERSONAL PENSION SCHEMES Disputes in relation to a pension schemes can take various forms. Depending on the type of scheme in question and the relevant facts, they can be potentially pursued through a number of different avenues. This Practice Note focuses on disputes that may be brought by aggrieved members in respect of pension rights under occupational or personal pension schemes. Disputes relating to occupational pension schemes An employee (or former employee) with a complaint relating to their pension rights under a trust-based occupational pension scheme acquired during the course of employment may (depending on the particular facts of their claim) have two principal avenues through which they can pursue their claim: • make a written complaint against their employer—this is possible if the pension claim in question can be shown to relate to contractual rights under their contract of employment • make a written complaint against the scheme trustees (and potentially again, the employer) insofar as the claim can be shown to arise

This guide is primarily aimed at trainees, newly qualified lawyers and other persons who are new to or unfamiliar with pensions law. Disputes in relation to pension schemes can take various forms, and depending on the type of scheme in question and the nature of the dispute, there are various avenues through which disputes can be pursued and resolved. Broadly, disputes and litigation may typically involve two or more of the scheme’s (i) members, (ii) members’ spouse/relations/dependants, creditors, assigns or successors, (iii) trustees/administrators/managers, (iv) employers, (v) professional advisers, (vi) regulator, or HMRC, and may concern, among other matters: • the sale and marketing of pension arrangements • the rights and benefits of members and other beneficiaries under the scheme • the transfer of pensions between schemes • employment-law-related issues • issues on divorce • the bankruptcy of members • the administration of the scheme • the construction, rectification or validity of a scheme’s governing documentation • the exercise of powers and/or the giving of consents under the scheme • professional negligence issues • the re-organisation or winding up

Provides a spouse with a share of a pension scheme member's pension rights on divorce; the spouse's share is paid when the member draws benefits. Now called attachment order.

Law360: On 10 February 2025 a New York federal jury found, by 'clear and convincing evidence', that Denmark's tax agency reasonably relied on the false statements made on pension plan applications that were part of a US$2.1bn tax fraud scheme by pension plan executives.

Law360: More than half of pension professionals believe that any public sector consolidator must have tough 'gateway tests' similar to those employed by commercial superfunds, if the project gets off the ground.

THIS CHECKLIST APPLIES TO TRUSTEES OF PRIVATE SECTOR DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMES This Checklist has been archived. It outlines the steps DB trustees had to take in the period leading to 6 April 2015 and thereafter to reflect the pension flexibilities (also known as pension freedoms) introduced on 6 April 2015. For more information on the nature of those changes, see Practice Note: Pension freedoms—an introduction [Archived]. In this Checklist, the term 'DB trustees' refers to the trustees (or managers) of arrangements other than arrangements which offer flexible benefits, ie arrangements other than: • money purchase arrangements • cash balance arrangements • other arrangements which typically require an individual to purchase an annuity Note that the additional voluntary contribution (AVC) facilities of defined benefit schemes do effectively constitute arrangements which offer flexibilities. The issues set out in Pension flexibilities: steps for DC trustees to take—checklist [Archived] will therefore be relevant to the trustees of such schemes, but only insofar as the AVC facilities are concerned. Preliminary steps • become familiar with

THIS CHECKLIST APPLIES TO TRUSTEES OF DEFINED CONTRIBUTION (DC) OCCUPATIONAL PENSION SCHEMES This Checklist has been archived. It outlines the steps DC trustees had to take in the period leading to 6 April 2015 and thereafter in relation to the pension flexibilities/pension freedoms introduced on 6 April 2015. For more information on the nature of those changes, see Practice Note: Pension freedoms—an introduction [Archived]. In this Checklist, the term 'DC trustees' means trustees (or managers) of pension arrangements which offer flexible benefits, ie: • money purchase arrangements • cash balance arrangements • other arrangements which typically require an individual to purchase an annuity Step 1—preliminary steps • become familiar with the pension flexibilities. This will help trustees and their staff to field any member queries in relation to those changes • check the trust deed and rules to determine whether the new limits introduced with effect from 27 March 2014 (eg new trivial commutation and small lump sum limits, new income requirements for flexible drawdown, new withdrawal limits for capped drawdown) have been automatically

ARCHIVED : This archived Practice Note covers the pension freedoms (also known as pension flexibilities) introduced on 6 April 2015. It is not maintained. Before 6 April 2015, defined contribution (DC) pension pots could, generally speaking, only be used to buy a lifetime annuity, converted into a scheme pension, used for drawdown or paid as a trivial lump sum (for further information, see Practice Note: Retirement options—DC members—How can the pension pot be used on retirement?). In the 2014 budget delivered on 19 March 2014, it was announced that from 6 April 2015, the rules governing the use of DC pension pots and other 'flexible benefits' would be relaxed. The relaxation of the rules on accessing flexible benefits is commonly referred to as the pension freedoms (or pension flexibilities). The government's aim in introducing the pension freedoms was to give members greater control over their finances and enable them to draw their benefits as they see fit. Who do the pension freedoms apply to? The pension freedoms apply to 'flexible benefits'. They do not apply in

ARCHIVED: This archived Practice Note explains the legislative and regulatory changes (including changes to the FCA Handbook) made to implement the pension freedoms introduced on 6 April 2015. This includes preparatory measures made ahead of 6 April 2015, changes made on the day and technical changes made afterwards to better give effect to the pension freedoms. This Practice Note is not maintained and is for information purposes only. On 6 April 2015, pension freedoms were introduced enabling individuals entitled to flexible benefits (effectively, money purchase benefits or cash balance benefits) to access their pension pot more freely from age 55, including by way of drawdown or by taking one or more cash sums known as uncrystallised funds pension lump sums (UFPLS). For further information, see Practice Note: Pension freedoms—an introduction [Archived]. How were the pension freedoms implemented? The pension freedoms were implemented through the introduction of various legislative changes made: • on 6 April 2015—these are the changes which give effect to the pension freedoms, as well as consequential changes to existing legislation to ensure

The assets of a pension scheme.

Pension fund accounts must be prepared and audited in accordance with the requirements of the Pensions Act 1995 and the Statement of Recommended Practice published by the Pensions Research Accountants Group.

A tax exempt unit trust.