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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
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
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
Listen to our latest pensions podcast as Samantha Brown and Antonia Pegden, who lead the HSF team that has been advising the Banks in connection with the GMP equalisation litigation, discuss the judgment in the second Lloyds hearing (on the need to equalise historic transfers) and consider: the implications for DB schemes and existing GMP … Read more
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
Yesterday, the Chancellor announced that the Coronavirus Job Retention Scheme (CJRS), or ‘furlough’, will be extended until the end of March 2021, for all parts of the UK. Under the extended CJRS, the Government will cover 80% of employees’ salaries for hours not worked (up to a maximum of £2,500 per month). Unlike when the … Read more
Here is a round-up of the pensions blogs and briefings that we have posted during the past month. Some of these have been broadcast but several have not, to avoid sending you too many emails. Read more
Alongside its new rules which are designed to improve the DB transfer advice market, the FCA has published draft guidance which seeks to explain how firms can comply with the FCA’s new and existing rules relating to pension transfer advice. The guidance also sets out the FCA’s views on the support trustees and employers can … Read more
The FCA’s new rules which will ban contingent charging and introduce the option for firms to offer abridged advice on defined benefit (DB) transfers came into force today (1 October 2020). These measures are intended to improve the quality of DB transfer advice. However, they could have the opposite effect if they result in more … Read more
