Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions....more
The Pensions Brief is a monthly update for trustees and employers of occupational pension schemes in the UK. It provides headline summaries of developments over the previous month and associated action points. It also...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Details of government pensions review published - The...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. TRP asks trustees to help shape VFM framework - We...more
Welcome to our monthly update on current legal issues for trustees of DC pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on your next...more
Welcome to our monthly update on current legal issues for trustees of DB and hybrid pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on...more
ESG – compliance review findings - The Pensions Regulator (TPR) has published the findings from its review of how trustees are complying with their wider ESG duties. The review concludes that while 99% of trustees of...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. DB Funding Code laid in Parliament - The final draft DB...more
Welcome to our quarterly pensions litigation briefing, designed to help pensions managers identify key risks in scheme administration, and trustees update their knowledge and understanding. This briefing highlights recent...more
Regulations came into force in 2023 that require trustees of occupational pension schemes that provide DC benefits other than additional voluntary contributions (“relevant schemes”) to include their policy on investment in...more
In March 2024, TPR announced the results of a 2023 survey on trustee diversity. The results confirm that trustee boards are less diverse than the overall population, with the “typical trustee,” as described by TPR, being “a...more
The Court of Appeal has today (25 July 2024) dismissed the employer’s appeal against a High Court decision last year that historic amendments to members’ contracted-out rights were void. This increased the value of accrued...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. New Pension Schemes Bill announced - Among the 40 new...more
The Pension Schemes Bill announced in the King’s Speech on 17 July builds on the UK Government’s drive to encourage defined contribution (DC) pension investment in long-term illiquid investments such as private equity,...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Court of Appeal: member 'interests' include future service...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Fixed penalty notice revoked: TPR communications not received...more
Issues affecting all schemes - General Election – impact on pensions - The General Election resulted in a landslide victory for the Labour Party. While no pensions-related announcements have been made since the election by...more
Recovering overpayments of benefits is a challenge often faced by pension trustees. Pension scheme benefits are complex and it is no surprise that mistakes can arise and lead to members being paid more than they are entitled...more
The Court of Appeal last week heard appeals by the sponsoring employers in two important pension cases. In both cases the employers had wished to amend (or to explore amending) the scheme rules to reduce the cost of future...more
Legislation in a hurry... Pensions tax is never simple, and the legislation abolishing the lifetime allowance (LTA) on 6 April 2024 (“L-Day”) bears this out. Regulations issued mid-March correct some, but by no means all, of...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. - TPR: Fine imposed for withholding information - PASA...more