The Supreme Court has ruled that a nomination requirement relating to the payment of a survivor’s pension under a public sector pension scheme discriminated against cohabiting unmarried couples and should be disapplied.
Trustees have on occasion relied on the “Hastings Bass” rule to unwind decisions that subsequently transpire to have unintended consequences. The scope to do so has been narrowed by the recent Supreme Court judgments in the jointly heard cases of Futter and another v HMRC and Pitt and another v HMRC.
The European Commission has announced that it is dropping its plans for a new funding regime for pension schemes.
Nick Clegg announces a new government idea to allow parents to use their pensions to help children onto the property ladder.
IBM will have to rectify the trust deeds and rules for its UK defined benefit scheme to allow active members to retire from age 60 without the organisation’s consent or reduction in their pension, following a High Court judgement.
The Information Commissioner has fined a council £250,000 for a data breach that saw former employees' pensions records found in a paper recycling bank in a supermarket car park.
Professor Kay was appointed by the Government to carry out an independent review into investment in UK equity markets and long term decision making.
Pensions Ombudsman - Pensions Ombudsman holds that erroneous information in scheme booklet was bindingFriday 23 November 2012
This is an unusual example of a case where the Pensions Ombudsman has been willing to rule that a statement contained in ancillary literature, such as a scheme booklet, was binding, even though it contradicted the scheme rules.
In Fitzgerald, the Deputy Pensions Ombudsman has held that a member must repay over £70,000 of overpayments he received as a result of his failure to submit annual certificates of re-employment to the scheme administrator.
Following a consultation exercise, the Government plans to introduce legislation providing for the automatic transfer of defined contribution (“DC”) pension pots up to a limit yet to be decided, but likely to be between £2,000 and £20,000.
This High Court decision concerned a scheme which had been amended to equalise normal retirement dates between men and women, but unfortunately a later consolidation of the scheme trust deed and rules mistakenly contained wording which unravelled those amendments.
New powers have recently been introduced under the Pensions Act 2011 designed to simplify the PPF’s entry processes.