Questions around the “end game” for DB schemes dominate the pensions press at the moment. The amount of tax due on authorised surplus payments to employers reduced from 35% to 25% from 6 April 2024 and we await the outcome of a government consultation on options for DB schemes (which includes changing some of the … Continue Reading
The new Pension Schemes Act 2021 paved the way for potential changes to the notifiable events framework which is intended to give The Pensions Regulator (TPR) early warning of possible calls on the Pension Protection Fund. The Department for Work and Pensions (DWP) has now issued draft regulations (Draft Regulations) and consulted on proposed changes … Continue Reading
Debt illustrations are starting to land on the desks of employers who have historically participated in the Plumbing & Mechanical Services (UK) Industry Pension Scheme (“the Plumbing Scheme”). Together with Chris Hawley of Barnett Waddingham, we explore the arising issues and what challenges are open to these employers. Background The challenges facing the Plumbing Scheme … Continue Reading
We may be approaching Valentine’s Day, but the new “Declaration of Intent” to be made by employers to their pension trustees is unlikely to be romantic…. A lot can happen in a year. We’ve had two Royal weddings, a Royal baby, Facebook has been under fire for misuse of personal data, Donald Trump and Kim … Continue Reading
