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This blog first appeared on our Competition blog. On 29 April 2021, the UK National Security and Investment (NSI) Bill received Royal Assent. The NSI Act 2021 introduces significant legislative reforms which will overhaul the review of transactions and investments on national security grounds in the UK, against a backdrop of tightening of foreign direct … Read more
At the time, the 2014 referendum was seen as a “once-in-a-generation opportunity” to settle the question: “Should Scotland be an independent country?”. The No-vote won by 55% to 45%. However, with one week until the 2021 Scottish Parliament election next Thursday, 6 May, the debate around a second referendum is firmly back on the political … Read more
The Pension Regulator has published for consultation its much anticipated draft guidance on how it intends to police the new pensions criminal offences due to come into force this Autumn. The draft guidance suggests that the Regulator will use these new powers sparingly and that they are not intended to fundamentally change commercial norms or … Read more
The Pension Schemes Act 2021, which will introduce new pension criminal offences, £1m regulatory fines and new requirements relating to funding and climate-related risks, received Royal Assent on 11 February 2021 but most of its provisions do not come into force imediately. Most of these measures are likely to come into force during the next … Read more
The Pensions Minister, Guy Opperman, has confirmed the Government’s timetable for implementing key elements of the Pension Schemes Act 2021. In a written ministerial statement published on 2 March, the Minister has confirmed the Government’s intention to introduce the new criminal offences and regulatory sanctions by the Autumn and to consult on draft regulations to … Read more
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
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
The latest edition of our Pensions Planner is here. Click on the image below to open your copy. The Planner and our handy timeline will help you keep up-to-date with the latest developments in pensions law and practice and identify the key pensions issues that your scheme or organisation needs to address in the coming … Read more
The Pension Schemes Act 2021 finally received Royal Assent on 11 February 2021. The Act contains some significant new funding requirements for defined benefit (DB) occupational pension schemes which mean that trustees and sponsors will soon be required to set a legally binding long-term objective for their scheme. In future, this objective will drive the … Read more
