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

The DWP has published a further consultation on revised proposals for the General Levy in which it is proposing substantial increases in the levy rates and changes to the structure of the levy itself. The General Levy on occupational and personal pension schemes is intended to cover the cost of funding the Pensions Regulator, the … Read more

Rishi Sunak has announced today that the Coronavirus Job Retention Scheme (CJRS) or ‘furlough’ scheme, will be extended until the end of April 2021, for all parts of the UK. Originally the Chancellor had said he would review the employer contribution element of the CJRS in January “to examine whether the economic circumstances are improving … Read more

It should probably come as no surprise, given the uncertainty that has surrounded the Brexit process since the referendum result in June 2016, that with less than two and a half weeks to go until the UK officially becomes a third country vis-à-vis the EU we still do not know the terms on which this … Read more

The Chancellor recently confirmed plans to issue the UK’s first ever sovereign green bond in 2021 and become the first country in the world to make it mandatory for companies, banks, asset managers and institutional investors to publish disclosures aligned with the recommendations of the Taskforce Climate-related Financial Disclosures (TCFD) by 2025. On 18 November … 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

The Investment Association (IA) recently published its annual letter to Remuneration Committee Chairs as well as its updated Principles of Remuneration which provide additional clarity on the IA’s position on various areas, including executive pensions. The IA continues to expect pension contributions for executives (both new and incumbent) to be aligned with those available to … Read more