Wendy Hunter

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Changes to the UK Water Special Administration Regime – Do Pension Trustees of Water Industry Schemes Need to Care?

Changes are afoot to the statutory regime governing special administrations for regulated water companies (the SAR) following the publication of a suite of new legislation. Impact of the changes on pension trustees Further details of the changes are set out in a blog post by restructuring colleagues Helena Clarke and Charlotte Moller. Helena and Charlotte note … Continue Reading

GMP Equalisation Under the Microscope – Bulk Transfers Will Require Close Examination

The recent court ruling known as “Lloyds 3” answered lots of questions about the need to revisit past transfer payments, where those transfer payments had been calculated without taking into account the obligation to equalise benefits for the effect of unequal guaranteed minimum pensions (GMPs). However, the more we look at Lloyds 3, which focused … Continue Reading

IR35 Reforms – A Taxing Time for Pension Trustees and Corporate Sponsors

The off-payroll tax rules (commonly known as IR35) are changing on 6 April 2020.  Pension trustees who have members of their board paid for their services through a personal service company (PSC) may need to start making those payments net of income tax and NICs under PAYE.  Although the rules have not been finalised (and HMRC … Continue Reading

What do Antigua and Barbuda and pension trustees have in common? (And it’s got nothing to do with rum or pirates!)

9 December 2019 is an important date in each of their respective calendars, albeit for different reasons. 9 December is national heroes day in Antigua and Barbuda and it is also a date that should be of note for pension scheme trustees. Not only is it the eve of the coming into force of various … Continue Reading

Keep calm and carry on!

Some of the questions we have been asked this week in relation to GMP equalisation, include – Do we have to equalise for GMPs? How do we do this? Do we have to make back payments? What should we tell our members? How do we deal with outstanding and new cash equivalent transfer value requests? … Continue Reading

Stuck on spin cycle – pensions and the money laundering regulations

In May we took the plunge and blogged about the forthcoming money laundering regulations (which seemed to have gone largely unnoticed until that point).  We highlighted some difficulties with the legislation and that it wasn’t entirely clear how they would apply to occupational pension plans.  Well, the final form regulations have arrived. They came into force … Continue Reading

Breaking up is hard to do

But pension scheme demergers are going to happen What to do about pension schemes which operate across Scotland and the rest of the United Kingdom? That is just one of the questions which will need to be resolved in the event of a “Yes” vote in the Scottish independence referendum on Thursday. It will be … Continue Reading
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