Tag Archives: pensions
The last few months saw legislative progress in two areas: temporary agency work and company pensions.
The High Court has held that an employer breached its duty of good faith to its pension scheme members by proposing changes that ‘confounded’ their reasonable expectations that their benefit accrual would continue in the future except in certain circumstances.
UK: Changes to benefits – trust and confidence breached by changes contrary to reasonable expectation
A recent pensions case has highlighted the risks inherent when communicating with employees about benefit changes. Assurances given may create ‘reasonable expectations’ that there will be no further changes (absent exceptional circumstances), so that subsequent changes then amount to a … Continue reading
Employers with occupational pension schemes may need to consider amendments to scheme rules in light of the Marriage (Same-Sex Couples) Act 2013, key provisions of which are due to come into force on 13 March 2014. The Act will allow … Continue reading
The Federal National Council (FNC) has called for widespread reform to retirement and pension laws in an effort to encourage more Emiratis to work in the private sector. The FNC’s proposed changes to the pension system include: permitting Emirati owners … Continue reading
On 7 June 2013, a committee of experts appointed by the Spanish government was asked to prepare a report on the “sustainability factor” of the social security system. The report was commissioned pursuant to Act 27/2011 regarding the modernisation and … Continue reading
UK: TUPE – payments for loss of pension rights should be separated out from payments to continue in employment
The Court of Appeal has confirmed that payments to employees on a TUPE transfer made partly to compensate for the loss of pension rights and partly as an incentive for the employees to work willingly and without industrial action were … Continue reading
Many companies still need to consider how they will implement pensions automatic enrolment and, with most employers required to become automatic enrolment compliant in 2012/13, now is the time for employers and trustees to start taking action. Our Herbert Smith … Continue reading