Chancellor extends support and outlines plans to build future economy

As expected, today’s Budget focused on: maintaining support for businesses and individuals during the remainder of the Covid-19 pandemic, starting the work of containing the ballooning national deficit, and laying the foundations for the future economy (with plans announced to promote green growth, change the economic geography of the country and to ensure we are … Read more

Government confirms plans to increase minimum pension age to 57

The Government has confirmed that it plans to increase the minimum pension age at which benefits under registered pension schemes can generally be accessed, without a tax penalty, from age 55 to age 57 from 6 April 2028. In a consultation paper which outlines how the Government intends to implement this, it has set out … Read more

M&A, restructuring, re-financing and dividends likely to be hit by new pensions offences and regulatory sanctions

The Pension Schemes Act 2021 finally received Royal Assent yesterday, paving the way for the most significant reform of the regulatory regime for defined benefit (DB) pension schemes since its introduction in 2006. The Act introduces new criminal offences and new regulatory powers for the Pensions Regulator that could: significantly impact corporate activity, including M&A … Read more

New and evolving pension risks in 2021

2020 was undoubtedly an unprecedented year, dominated of course by the impact of Covid-19 and here in the UK, by the preparations for Brexit. The year may (finally) be over, however, these themes are likely to continue to dominate the agenda in 2021. Nevertheless, with vaccines being rolled out and a Brexit deal agreed, there … Read more

Our five pension predictions for 2021

2020 has been a uniquely challenging, unpredictable and eventful year, dominated (as we all know too well) by the impact of Covid-19, which has changed the way we live, work and do business, and also by the preparations for Brexit. Both of these themes will undoubtedly continue to dominate the economic and political agenda in … Read more

Pension Disputes Bulletin – December 2020

Welcome to the latest edition of our quarterly pensions disputes bulletin. In this edition we cover: the 2nd judgment in the Lloyds Bank GMP equalisation litigation and new guidance relating to GMP equalisation key developments in relation to the Pension Schemes Bill the predicted rise in Covid-related complaints to the Pensions Ombudsman recent cases on transfers, insurance, investment, … Read more

Podcast: Pensions Policy EP2 – What to expect in 2021?

We thought it would be helpful for our listeners if we considered some of the key pensions-related themes and risks that we expect to emerge in 2021. Therefore, in our latest pensions podcast Rachel Pinto and Michael Aherne from our UK pensions team discuss their predictions for 2021 relating to: the new offences and regulatory … Read more

HSF Pensions Round Up – November 2020

Here is a round-up of the pensions blogs and briefings that we have posted during November covering the 2nd Lloyds judgment, steps trustees need to take by 7 January 2021 to comply with the CMA Order and our recent webinar featuring Steve Webb on how pensions regulation needs to change in light of Covid-19. Some … Read more