Related insights: Pensions Litigation
Private equity investor agrees £25m settlement of Pensions Regulator claim
09 Mar 2021
HIG Group recently agreed a settlement with The Pensions Regulator (tPR) following a challenge to its 2011 pre-pack administration of Silentnight, the UK bed manufacturer. TPR's case was that HIG acquired the employers' bank debt and used its position as lender to bring about the unnecessary insolvency of the employers, then taking steps to buy the employers' business at an undervalue as part of the administration process that followed.
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.
Russell Adams v Options SIPP UK LLP (formerly Carey Pensions UK LLP)
26 May 2020
The judgment handed down in Adams v Options SIPP UK LLP by the Chancery Division of the High Court may give SIPP providers some comfort on their exposure to liability when acting on an execution-only basis and a SIPP member suffers loss on an investment made through their SIPP.
Pension transfers: trustees must communicate "red flags" to members
18 Oct 2019
A recent determination by the Pensions Ombudsman (the case of 'Mrs H, PO-21489) serves as a reminder of the level of due diligence required of pension plan trustees, managers and administrators when considering transfer out requests in order to protect members against pension liberation fraud.
Government loses age discrimination fight over public sector pensions
08 Jul 2019
On 27 June 2019, the Supreme Court denied the Government’s application to appeal a Court of Appeal ruling that the reforms to judges’ and firefighters’ pension plans were unlawful on the grounds of age discrimination. This decision is likely to have far-reaching effects for other public sector pension plans.
Pension plans must put fiduciary management services out to tender
13 Jun 2019
Pension plan trustees appointing a fiduciary manager to make investment decisions on their behalf for at least 20% of their plan assets will now need to run a competitive tender process.
The Pensions Regulator's stronger powers
02 Apr 2019
Our recent update described the key changes which the Government intends to introduce following a consultation last year on strengthening the powers of the Pensions Regulator.
Pension plans must be proactive now that the Regulator is increasingly active
31 Mar 2019
A regulatory intervention report published by the Pensions Regulator confirms that it is increasingly using its powers to protect defined benefit (DB) pension plans and taking a tougher regulatory approach.
Can UK pension plans influence good governance in listed companies?
12 Mar 2019
On February 4 2019, after nearly four years of litigation, and a three-week trial, a UK pension plan won a rare victory over an American pharmaceutical company (Puma). The case went to jury trial in California, where the jury found that Puma, together with its CEO and board chairman, were liable for securities fraud.
Devil in the detail? Recent lessons in death benefit decision-making?
08 Dec 2018
A recent Pensions Ombudsman decision reminds us that death benefit decision-making can often be a tricky area for trustees and employers to navigate. The Pensions Ombudsman has already made 23 determinations in relation to death benefits in 2018, the topic typically representing around 1 in 10 cases he hears each year.
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