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

Happy GDPR-versary! Herbert Smith Freehills reflections on a year of GDPR regulation

The GDPR came into effect just over a year ago on the 25 May 2018. As the most significant reform of data protection law in Europe for over 20 years, the legislation raised expectations of a cultural shift in attitude to data privacy. A year on from the fanfare of implementation, our data protection experts examine key aspects of what we have seen and learnt since implementation, and what we can expect for the future. 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

GMP equalisation (Part 3) – Latest judgment in Lloyds Bank case clarifies approach to equalisation when converting GMPs and may help with transfers

A further judgment has been handed down today by the High Court in Lloyds Banking Group Pensions Trustees Limited v Lloyds Bank Plc and others. The latest instalment in this case, which concerns the need to equalise pensions for the effect of guaranteed minimum pensions (GMPs), follows a short hearing on 3 December 2018 and clarifies … 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 April 1997 and which provide GMPs. There are a number of questions which remain unanswered … Read more