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: 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

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 a statutory limitation period on the basis that the claim is a claim for recovery … 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 should be made for an Early Resolution Service and to allow the Pensions Ombudsman to ‘mediate’ and ‘resolve’ complaints and disputes before a determination.It is important that this consultation is taking place now, because the role of the Pensions Ombudsman's service is evolving. Read more