Related insights: Pensions

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GMP equalisation – transfers out

24 Nov 2020
Judgment in the supplementary Lloyds Bank case was handed down on 20 November 2020, providing some clarification as to the actions which must be taken by trustees of defined benefit pension schemes to address unequal guaranteed minimum pensions (GMP) where that GMP was transferred between occupational pension schemes.
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PPF Levy Consultation 2021/22 – method in the madness?

03 Nov 2020
In a world that looks very different than it did this time last year and with future economic uncertainty being all too real many people may be concerned about what the practical implications of COVID-19 will mean for the next Pension Protection Fund (PPF) levy year. The PPF's recently published levy consultation suggests that, for the 2021/22 levy year at least, any such fears may be somewhat unfounded.
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The Pension Schemes Bill 2019-21: the latest position

02 Nov 2020
After progressing through parliament for most of 2020, the Pension Schemes Bill is reaching the final stages of review before becoming law. The committee stage is due to end on 5 November, following which the Bill is expected to come into force by the end of the year. We have summarised the key changes which will be introduced by the Bill.

Court of Appeal to examine SIPP provider case

22 Oct 2020
In May, we wrote about the High Court judgment in Adams v Options SIPP UK LLP which offered SIPP providers some comfort that, in circumstances where a loss is suffered by a member and the SIPP provider is acting on an execution only basis, they will not usually be liable for any loss suffered by the investor on investments made through the SIPP, including investments introduced to the member by unregulated providers.
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Budget 2020: key changes to pensions tax relief

11 Mar 2020
Following concerns that pensions tax charges are forcing experienced staff out of the NHS Pension Scheme and impacting services for patients, the Chancellor has today announced measures to increase the point at which the tapering of the annual allowance starts.