Welcome to DLA Piper’s Pensions News publication in which we report on recent developments in pensions legislation, guidance and case law, as well as keeping you up to speed on what to look out for in the coming months. This edition brings you the developments from April 2014 including the following.
- Budget and Finance Bill: a follow-up announcement from HM Treasury and guidance from HMRC on the tax implications of the Budget for members who have recently taken a tax free lump sum and want to take advantage of the new flexibilities; a Statement from the Regulator; and guidance from the Financial Conduct Authority.
- Automatic enrolment: the Regulator’s first section 89 report about the exercise of its compliance powers in relation to automatic enrolment; the results of research commissioned by the DWP and, in light of the findings of the research, an update to the DWP’s estimate of opt out rates; and updated guidance from the Regulator and the DWP.
- The Pensions Regulator: a report on research about DB pension costs; and updated regulatory guidance for DC schemes.
- PPF: the publication of the PPF’s Strategic Plan for 2014 to 2017; and an update on UK Coal.
- Case law: a judgment about the employer’s duty of good faith when making amendments in relation to its pension scheme; a judgment which underlines the importance of properly executing deeds of amendment; and judgment in a procedural application in relation to the Box Clever FSD.
- Other News: updates to HMRC’s Registered Pension Schemes Manual; the passing of a Portability Directive by the European Parliament; and a consultation on further amendments to the Teachers’ Pension Scheme.
Please see full newsletter below for more information.
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