Pensions trustees

Member communications and the need for employers to provide key pensions information brought into focus in a recent determination by the Pensions Ombudsman.

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A recent determination by the Pensions Ombudsman against the Police and Crime Commissioner of South Wales and pension administrator Capita has brought member communication obligations into sharper focus. More …

A recent court decision involving the use of section 48 of the Administration of Justice Act 1985 may pave the way to an alternative approach to defective scheme documentation in appropriate cases.

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In a recently reported case involving the BCA Pension Pla, the court has ordered that its trustees can administer the scheme as if certain words from a previous pension increase rule had not been accidentally omitted during a rule consolidation exercise. More …

Industry group publishes revised code of practice for on incentive exercises. Employers and trustees should consider the code very carefully in any exercise.

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A revised and updated code of good practice has just been issued by the industry group, the Incentive Exercises Monitoring Board. More …

Governance burden for trustees set to increase through new requirements on trustees to report on transfer performance.

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The government first announced its intention to cap pension early exit charges through a consultation in July last year. The response to that consultation has recently been issued and the government has now proposed that: More …

Deduction of VAT on fund management costs

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Following two recent European court cases, HMRC had proposed that, in order to continue to allow VAT to be recovered on services provided in respect of employer sponsored occupational pension schemes... More …

Surplus Refunds: Trustee action required to preserve ongoing surplus powers

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Many UK registered defined benefit pension schemes ("DB Schemes") contain powers allowing trustees to make payments to employers where the fund is in surplus and the scheme is ongoing. More …

Trying to leave the LGPS? Breaking up is hard to do…

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For many charitable and other bodies offering staff membership of the Local Government Pension Scheme (LGPS) as a result of local authority outsourcing, there has been a concern with how past-service liabilities have been transferred to them. More …

A reminder about the abolition of salary related contracted-out. Is your scheme prepared?

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From 6 April next year, contracting-out will be abolished for defined benefit pension schemes. This follows on from the abolition of contracting-out for defined contribution pension schemes on 6 April 2012. It will bring to an end what has been a key (and hugely complex) feature of pension schemes for many years. More …

The charity employer covenant in pension schemes

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Adrian Lamb discusses the Pension Regulator's guidance for charity employers on assessing and monitoring their covenant in defined benefit pension schemes. More …

Assessing and monitoring the employer covenant – the Pension Regulator's new guidance and its implications

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Following on from the new Code of Practice 3 on Funding Defined Benefit Scheme the Pensions Regulator has now issued much more extensive guidance on how to assess and monitor the employer covenant. More …