Pensions Planner – December 2019

The latest edition of our Pensions Planner is now available to help you plan for 2020 and beyond. Click on the image below to download your copy. The Planner and our handy timeline will help you keep track of the latest developments in pensions law and practice and identify the key pensions issues that your … Read more

Pension disputes bulletin – October 2019

Welcome to the first edition of our new quarterly pension disputes bulletin. In these bulletins we will report on key cases, Ombudsman determinations and regulatory activity and identify emerging risks for pension schemes, sponsors, administrators and other service providers. In this edition we cover: key developments in relation to pension transfers and GMP equalisation recent … Read more

PASA issues guidance on how to implement GMP equalisation

PASA has today issued guidance, drafted by the Equalisation Working Group, which outlines methods that schemes could use to implement GMP equalisation. The guidance also addresses some of the tricky issues that are likely to arise on most GMP equalisation projects including what to do about: past transfers in “no further liability” cases (i.e. where … Read more

Top 10 reasons for Pensions Ombudsman complaints in 2018/19 revealed

The Pensions Ombudsman’s annual report for 2018/19 shows that the number of pension related complaints continues to rise, with 1,538 new investigations opened by the Ombudsman in the past year (a 5% increase on the previous year). The top 10 reasons for new complaints remains largely unchanged from 2017/18, although the order has changed. However, … Read more

Podcast: Pensions de-risking Ep2: Buy-outs and GMP equalisation

Listen to our latest pensions de-risking podcast (12 mins) as Rachel Pinto, Pensions Partner discusses the implications of GMP equalisation for pension scheme buy-outs with Uzma Nazir, Head of Origination Structuring, Pension Insurance Corporation. In the discussion, Uzma shares her views on: how buy-out insurers are approaching the issue of GMP equalisation how GMP equalisation … Read more

Does the PPF have to guarantee 100% of members’ benefits?

Potentially, yes. If the judges in the Court of Justice of the European Union (CJEU) follow the Opinion of Advocate General Hogan in the German case of PSV v Bauer (Case C-168/18). This case, once again, raises the question of the extent to which an individual's workplace pension benefits should be protected under EU law by an institution set up by a Member State to provide protection where the individual's employer or former employer has become insolvent. Read more

Pensions Planner: June 2019

The latest edition of our quarterly Pensions Planner is now available. Click on the image below to download your copy. We hope that you find this guide helpful. Please share any feedback you have on it. You can also follow our latest thinking on all of the topics covered in the Planner on our new pensions blog. Please contact us if you need assistance with any of the issues that are highlighted in this edition. Read more

GMP conversion – a silver bullet?

Just before Easter, the DWP published its long-awaited guidance on GMP conversion. Since the High Court confirmed the need for schemes to equalise pensions for the effect of GMPs in the Lloyds Bank case in October last year, GMP conversion has been seen by many as the solution likely to be preferred by most schemes. … Read more