Here is the latest edition of our regular Pension Disputes Bulletin which contains summaries of key cases, Ombudsman decisions and regulatory activity and highlights emerging risks for pension schemes, providers, sponsors, administrators, and other service providers. In this edition, we cover the implications of: a recent judgment on the operation of a scheme’s forfeiture rule … Read more

Some UK pension schemes are being forced to try and meet large (and immediate) margin calls, of up to £100 million, on the interest rate derivatives and asset swaps they hold as part of their liability driven investment (LDI) strategies. This follows the recent sharp falls in the value of gilts and sterling which have … Read more

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

HMRC has issued further guidance on the tax implications of implementing GMP equalisation. The guidance is helpful and pragmatic. It outlines several options for making a top-up payment to correct historic transfer values. It also helps clarify the impact of GMP conversion for annual and lifetime allowance purposes for pensioners. However, it does not resolve … Read more

As expected, today’s Budget was pretty quiet from a pensions perspective. While many of the headlines are likely to be reserved for the changes to alcohol duty which will see the prices of Prosecco, draught beer and cider and most wines reduced, as far as pensions are concerned the headline announcements are: An increase in … Read more

The government has confirmed it plans to legislate to increase the normal minimum pension age from age 55 to age 57 from 6 April 2028 in the next Finance Bill. The legislation will include a protection regime for savers who already have an unqualified right to access their benefits before age 57. Following the recent … Read more

Our latest Pensions Planner is here. The Planner and our handy timeline will help you keep up to date with the latest developments in pensions law and practice and help you identify the key pensions issues that your scheme or organisation needs to address in the coming months. The latest edition covers: The Pensions Regulator’s … Read more