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We were delighted to host the London launch of the Living Wage Foundation’s new Living Pension employer accreditation today and are proud to become one of the UK’s first Living Pension employers. In the latest podcast from the Herbert Smith Freehills’ pensions team, Tim Smith, Professional Support Consultant, is joined by Katherine Chapman, Director of … Read more
In the biggest act of pensions tax simplification in many years, the Chancellor has today announced that the Lifetime Allowance will be abolished from April 2024 (with the Lifetime Allowance tax charge being removed from April 2023). He also announced an increase in the Annual Allowance from April 2023. While the abolition of the lifetime … Read more
In the latest podcast from Herbert Smith Freehills’ pension team, Michael Aherne, Partner, is joined by Alex Hutton-Mills, Co-founder and Head of Pension Corporate Finance at Cardano Advisory, to discuss corporate transactions involving occupational pension schemes and how the UK’s regulatory framework has changed over the past decade. In particular, Michael and Alex discuss: The … Read more
On 7 February, the Bank of England (the Bank) and His Majesty’s Treasury (HM Treasury) jointly published a Consultation Paper on the development of a Central Bank Digital Currency (CBDC) for the UK (or a digital pound). The three key takeaways in respect of a likely digital pound are: No final decision has been made on whether there will be … Read more
The immediate panic caused by the liquidity crisis that affected a large number of defined benefit (DB) pension schemes invested in liability driven investment (LDI) funds in September and October 2022 has now passed. However, a great deal of attention continues to be focused on understanding the causes of the crisis, ensuring steps are taken … Read more
Here is the latest edition of our Pensions Planner, which will help you identify the key pension issues your scheme or organisation needs to address in the coming months. The latest edition covers: the potential impact of the draft new funding Code for DB schemes actions trustees should be taking to address the risks faced … Read more
The Pensions Regulator has launched its long awaited consultation on a new funding Code of Practice for defined benefit (DB) pension schemes. The draft Code sets out the Regulator’s views on how the new statutory requirements regarding the need for trustees to put in place a long-term funding and investment strategy for their scheme are … Read more
On 9 December, the Chancellor announced over 30 regulatory reforms which, together with the Financial Services and Markets Bill, the government hopes will drive growth and competitiveness in the UK financial services sector. The proposed reforms are designed to: maintain and build a competitive marketplace and promote the effective use of capital; secure the UK’s leadership role … Read more
In the latest podcast from the Herbert Smith Freehills’ pensions team, Olivia Kettleborough, our Professional Support Paralegal is joined by Tim Smith, our Professional Support Consultant to look back at 2022 and to look ahead to the key developments in store for pension scheme sponsors, trustees and providers as we move into the New Year. … Read more
