GMP equalisation – Beware the forfeit!

One of the more surprising elements of the decision in the recent Lloyds Bank case is that the judge, Justice Morgan, held that the payment of arrears that become due when a scheme implements GMP equalisation are not subject to… Read more

Regulator’s annual funding statement raises the funding bar

The Pensions Regulator has published its 2019 annual funding statement for defined benefit (DB) schemes. The statement: reflects the Regulator's tougher approach confirms the Regulator's focus on reducing the length of deficit recovery plans and requiring schemes to set a… Read more

Should the Ombudsman act as a mediator?

This is one of the questions posed by the DWP in its consultation on the Pensions Ombudsman's dispute resolution powers and jurisdiction issued just before Christmas. The consultation lacks detail on what is meant by mediation, simply suggesting that provision… Read more

Global M&A report 2019

Our latest Global M&A report looks at the themes that we expect to see in M&A transactions in 2019. In 2018, global M&A volumes reached their highest point since the financial crisis. Despite a noted slowdown in pace during Q4,… Read more

Preview 2019

Preview 2019 highlights legal and regulatory developments to look out for this year across a range of areas. It also identifies key trends that we can expect to see feature prominently in the legal and regulatory landscape this year. ... Read more

Backstops and gateways

While all the talk at Westminster over the past few weeks has been about "legal backstops", judging from the consultation on DB consolidation, the talk at Caxton House has clearly been about "regulatory gateways". Whilst the constitutional significance of these… Read more

GC Update – December 2018

Today we have published our latest GC Update, which summarises recent and forthcoming developments across a wide range of areas. ... Read more

GMP equalisation – What must trustees do now?

So, the High Court has ruled that trustees are required to equalise benefits for male and female members under their scheme for the effect of GMPs. This judgment impacts all schemes which were contracted-out between 17 May 1990 and 5… Read more