Recent tax decision may open AE opt-out can of worms

In a recent decision, the First-tier Tax Tribunal has ruled that an individual still had a statutory right to opt-out of their employer’s automatic enrolment scheme several months after he was enrolled on the basis that the enrolment information provided to him was incorrect. While this was helpful for the individual in this case, as … Read more

AI fairness in UK financial services

With the ongoing development and growing application of artificial intelligence, analytics and automation there is increasing public and regulatory interest in ensuring that any potential risks stemming from these technologies are mitigated. A key area of concern is around ‘bias’ and AI fairness. This whitepaper – which we prepared in collaboration with UK Finance  – … Read more

What can we learn from the Pension Regulator’s Corporate Plan?

The UK Pension Regulator has published its latest Corporate Plan which describes the Regulator’s main areas of focus over the next two years. The Plan provides important updates on the timing of the new DB funding Code and the extension of the notifiable events regime, as it sets out the key actions we can expect … Read more

Pensions and Bulk Annuities – Ep 3

In the latest podcast from Herbert Smith Freehills’ pension team, Rachel Pinto, Partner, is joined by Simon Bramwell, Partner and Head of Longevity Risk Transactions at Barnett Waddingham and Matt Wilmington, Head of Origination – Bulk Annuities at Scottish Widows. In their conversation, Rachel, Simon and Matt cover: the preparations that schemes need to make … Read more

Hong Kong Pensions Update: Removal of MPF Offsetting Arrangements on the way

The long-awaited changes, which will abolish the current MPF offsetting arrangements against severance or long service payment, have been published, introduced and passed as one of the first bills for the 2022 legislative session. This article gives an overview of the changes and transitional arrangements. Abolishing the offsetting arrangement Currently, employers are permitted to offset … Read more

Pensions Planner – June 2022

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: what schemes need to do to prepare for pension dashboards the impact of the new Consumer Duty the latest Annual Funding Statement … Read more

Pension Disputes Bulletin – May 2022

Welcome to the latest edition of our Pension Disputes Bulletin. Our regular disputes bulletins contain summaries of key cases, Ombudsman decisions and regulatory activity and highlight emerging risks for pension schemes, providers, sponsors, administrators and other service providers. In this edition we consider the implications of: the FCA’s latest proposals for the new Consumer Duty; … Read more

Pensions and Bulk Annuities – Ep 2

In the latest podcast from Herbert Smith Freehills’ pension team, Rachel Pinto, Partner, is joined by Rosie Fantom, Partner at Barnett Waddingham and Uzma Nazir, Head of Origination Structuring at Pension Insurance Corporation. They discuss small to medium sized schemes and how these schemes can best prepare for transactions. In their conversation, Rachel, Rosie and … Read more

Podcast: Pension dashboards – data, liability and regulation

In this podcast, Tim Smith, Pensions Professional Support Consultant, is joined by Richard Smith, Pension Dashboards Consultant at the Pension & Lifetime Savings Association to discuss the industry’s hopes for pension dashboards and what schemes need to do to get ready. In particular, he: explains what dashboards are and what it is hoped they will … Read more