Chris Harper

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CMA Order: Three Ways to Avoid Starting 2021 With a Fine!

UK pension scheme trustees must submit their first compliance statement, along with a certificate, directly to the Competition and Markets Authority (CMA) by 7 January 2021. The compliance statement relates to obligations under the CMA Order issued in June 2019, including setting strategic objectives for investment consultants, which followed the conclusion of the CMA’s investigation … Continue Reading

The Early Bird Catches The Worm

In October 2019 pension trustees’ investment duties were expanded. Further changes will take place from 1 October 2020, which will affect defined benefit (DB), defined contribution (DC) and hybrid pension schemes. In order to be in a position to comply with those duties, trustees will need to take action now. Trustees not only need to … Continue Reading

A long time ago in a member state far, far away…

On 19 December 2019, an epic story with multiple twists and which many thought would never happen will reach its conclusion. And there will be no droids or Wookies involved. Yes, it’s the day we are expecting the ruling of the Court of Justice of the European Communities (“CJEU”) in connection with the German case … Continue Reading

I’m a small DC scheme… get me out of here

Does your DC scheme have less than £10m in assets or fewer than 1,000 members? If so, you may have to consolidate into another arrangement – or explain why you should not. The encouragement of DC consolidation is one of the proposals in the DWP’s consultation “Investment Innovation and Future Consolidation”, which runs until 1 … Continue Reading

We’ll CJEU in Court…or not!

The Upper Tribunal has rejected an application by the trustee of the British Coal Staff Superannuation Scheme for an expedited referral of its case to the Court of Justice of the European Union (“CJEU”). The Upper Tribunal decided that the unprecedented circumstances arising from the triggering of Article 50 did not alter its established test, … Continue Reading

Pensions Regulator finally facing its Waterloo?

The first judicial review of a decision of the Pensions Regulator relating to UK auto-enrolment has been published. The High Court, in The Queen on the application of Fleet Maritime Services (Bermuda) Limited v The Pensions Regulator, considered the appropriate test for determining whether a worker “is working or ordinarily works in Great Britain under … Continue Reading

Short service refunds from UK pension schemes – oh, preserve us!

When Section 36 of the Pensions Act 2014 comes into force, employees who subsequently join a UK defined contribution pension scheme or arrangement will be entitled to receive scheme benefits after 30 days’ service. Currently, many schemes refund members’ contributions if they leave the scheme before completing 2 years’ service, rather than provide benefits, as … Continue Reading