News
Transfer of Small Pension Pots
Wednesday 18 July 2012On 17 July 2012, the Government issued its response to consultation regarding the proliferation of small pension pots.
Contractual changes to pensionable salary cap
Sunday 15 July 2012In the Bradbury v BBC case, the High Court held that a contractual agreement to impose a cap on pensionable salary can be effective, notwithstanding the provisions of the pension scheme rules, provided that this does not breach the employer’s implied duty of trust and confidence.
Case law - High Court adopts pragmatic approach in analysing defined contributions scheme that had targeted final salary benefits
Thursday 12 July 2012In Entrust Pension Limited v Prospect Hospice Limited and Yvonne Hunter, the High Court took a broadly pragmatic approach when faced with difficult questions about benefit promises under a pension scheme with a highly unusual structure.
Regulator's decision not to issue financial support directions may be appealed in relation to Lehman Brothers Pension Scheme
Thursday 12 July 2012A tribunal has ruled that six subsidiaries of Lehman Brothers and the pension scheme trustees are entitled to appeal the Pension Regulator’s decision not to impose a financial support direction (“FSD”) on 38 other group companies.
The Pensions Regulator Sanctions Regulated Apportionment Arrangement
Wednesday 11 July 2012The Pensions Regulator has given clearance to the British Midlands Airways pension scheme entering the Pension Protection Fund ("PPF").
Dual Status workers and auto-enrolment
Tuesday 10 July 2012New regulations, which took effect on 2 July 2012, exempt “dual status workers” from auto-enrolment.
The Disclosure of Information Regulations
Monday 09 July 2012The Disclosure of Information regulations are to be amended with effect from 1 October 2012. These regulations set out the pensions information that trustees are required to provide to scheme members and other interested parties.
Consulting with Employees: Switching to CPI
Friday 06 July 2012A new "listed change" was introduced into the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006 with effect from 6 April 2012.
Automatic Enrolment Earnings Trigger and Qualifying Earnings Band Rates set for 2012/2013
Friday 06 July 2012The DWP has confirmed the levels of the earnings thresholds for the initial 2012/13 auto enrolment year.
The Abolition of Protected Rights
Thursday 05 July 2012Following the abolition of protected rights on 6 April 2012, all legislative restrictions on protected rights were automatically removed.
Change to Transfer Legislation
Wednesday 04 July 2012From 6 April 2012 there was a change in the legislation regarding transfers of pension rights.
The Pensions Regulator helps schemes to determine requirements of automatic enrolment
Tuesday 26 June 2012An online ‘DC qualifying scheme tool’ has been made available by the Regulator to help employers assess whether their existing DC scheme meets the minimum criteria for an automatic enrolment scheme, as set out in legislation.