HMRC have announced a change to VAT policy to allow employers of defined benefit pension scheme to recover up to 100% of VAT on pension scheme investment costs. Employers and pension scheme trustees may need to consider...more
We run a comprehensive programme of pension training for clients and their advisers, including training for new pension trustees, training for experienced trustees and regular morning seminars reviewing legal developments in...more
In this article, we look forward to likely key developments in UK pension law in 2025. This article covers, in particular: Virgin Media: the legal rollercoaster continues … The Pension Schemes Bill: a comprehensive...more
In this news update, we highlight legal developments in UK pensions from January 2025. This update covers: Investment news: Pensions Investment Review: consultation closes Derivatives clearing exemption to be extended...more
The government has ambitious plans for the future of defined benefit (DB) pension schemes, many of which, it is hoped, will help the UK economy through increased investment in productive finance. In particular, the...more
The government is keen to see continued reduction in the number of DC trust-based occupational pension schemes, believing that a smaller number of large, well-run schemes will result in better outcomes for members while...more
The pension tax changes announced in the Budget today represent a revolution in pension taxation. This alert gives a short summary of the announcements affecting pensions. No doubt further complexities will arise as the...more
Welcome to Hogan Lovells UK pension team’s April 2022 newsletter, covering highlights from the previous month. Contents GMP equalisation update Encouraging DC schemes to invest in illiquid assets Notifiable events update ...more
Welcome to Hogan Lovells pensions UK team's March 2022 newsletter, covering highlights from the previous month. Contents Our recent pensions and ESG webinar Ukraine: Pensions Regulator guidance Pension dashboards: action...more
A requirement to tell the Pensions Regulator (tPR) about certain events (“notifiable events”) has long been part of tPR’s armoury in its ongoing campaign to strengthen funding of defined benefit (DB) pension schemes....more
The Act introduces two new offences – conduct risking accrued DB benefits and avoidance of employer debt, as explained below. Each offence is punishable by up to seven years' imprisonment and / or an unlimited fine. There are...more
The passage of the Pension Schemes Act 2021 (the Act) into the statute books has received press coverage far beyond the usual pension industry commentary. New criminal offences and civil penalties, plus increased powers for...more
8/17/2021
/ Criminal Liability ,
Defined Benefit Plans ,
Employee Benefits ,
Employer Liability Issues ,
Failure to Comply ,
Fines ,
Pension Schemes ,
Pensions ,
Retirement Plan ,
The Pensions Regulator (TPR) ,
UK
After the Carillion and BHS debacles, the Pensions Regulator (tPR) announced it was going to be “clearer, quicker and tougher”. The new Pension Schemes Act 2021 (the Act), which received Royal Assent on 11 February 2021,...more
8/17/2021
/ Criminal Liability ,
Defined Benefit Plans ,
Employee Benefits ,
Employer Liability Issues ,
Failure to Comply ,
Fines ,
Pension Schemes ,
Pensions ,
Retirement Plan ,
The Pensions Regulator (TPR) ,
UK
After the Carillion and BHS debacles, the Pensions Regulator (tPR) announced it was going to be "clearer, quicker and tougher". The new Pension Schemes Act 2021 (the Act), which received Royal Assent on 11 February 2021,...more
The DWP is consulting on measures to ensure that trustees of large occupational pension schemes focus on the impact of climate change on their investments and (for defined benefit schemes) the employer covenant.
The...more
The Pensions Regulator has issued guidance for supervising the commercial consolidation of defined benefit (DB) pension schemes into Superfunds. ...more
The government's Coronavirus Job Retention Scheme (CJRS) has thrown a lifeline to many employers and to their employees who might otherwise have lost their jobs in the current Covid-19 crisis. For employers taking advantage...more
The Pension Protection Fund (PPF) has today issued a helpful statement concerning the practicalities of certifying contingent assets in the current, highly-unusual, circumstances....more
As expected, following the general election the new government has reintroduced the Pension Schemes Bill and is taking forward changes consulted on in 2018. The Bill will significantly increase the Pension Regulator's powers...more
2/19/2020
/ Criminal Liability ,
Defined Benefit Plans ,
Employee Benefits ,
Failure to Comply ,
Fines ,
Legislative Agendas ,
Penalties ,
Pension Schemes ,
Pensions ,
Retirement Plan ,
The Pensions Regulator (TPR) ,
Trustees ,
UK
After the Carillion and BHS debacles, the Pensions Regulator (tPR) announced it was going to be "clearer, quicker and tougher". The new Pension Schemes Bill (the Bill) currently going through Parliament will give tPR...more
2/19/2020
/ Criminal Liability ,
Defined Benefit Plans ,
Employee Benefits ,
Employer Liability Issues ,
Failure to Comply ,
Fines ,
Pension Schemes ,
Pensions ,
Retirement Plan ,
The Pensions Regulator (TPR) ,
UK
After the BHS debacle, the Pensions Regulator (TPR) announced it was adopting a "clearer, quicker and tougher approach". But what does that mean in practice for the sponsors of UK defined benefit (DB) schemes?
...more
- Most defined benefit (DB) pension schemes in the UK are affected by the High Court decision in October last year that schemes must equalise for the unequal effect of guaranteed minimum pensions (GMPs) on men and women.
-...more
Hogan Lovells pension group is delighted to send you our November e-newsletter.
Featured are points to note regarding PPF contingent assets, new regulations related to IORP II and GMP equalisation. ...more
11/26/2018
/ Defined Benefit Plans ,
Employee Benefits ,
Guaranteed Minimum Pension ,
Levy ,
Pension Protection Fund (PPF) ,
Pension Schemes ,
Pensions ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Requirements ,
UK
In a landmark decision which will impact most defined benefit (DB) pension schemes in the UK, the High Court held on 26 October 2018 that pension schemes must equalise for the effect of guaranteed minimum pensions (GMPs)...more
In a landmark decision which will impact most defined benefit (DB) pension schemes, the High Court held on 26 October 2018 that pension schemes must equalise for the effect of guaranteed minimum pensions (GMPs) providing...more