Leading commentary and perspectives on employment and labor law
UK Pensions: beware inheritance tax on pension transfers made shortly before death
In a recent UK case (HMRC v Parry) the Court of Appeal found that inheritance tax was due on pension benefits which were transferred out of a defined benefits (or final salary) to a defined contribution (or money purchase) scheme shortly …
If you are a pension scheme trustee, there is a risk that you might be considered a professional trustee without realising, and be subject to new standards for professional trustees that were published earlier this year. A new system of accreditation for professional trustees is also being introduced.
Am I a professional trustee?
A professional…
On 16 May 2019, the Department for Work and Pensions (DWP) published a periodic, government-conducted review which examines the continuing need, efficiency and good governance of the Pensions Regulator (TPR). This tailored review was conducted between August and November 2018 and led by Jamey Johnson, the former Chief Officer for Pension Wise (which is…
BIC UK Ltd v Burgess [2019] – employer appeal successful: retrospective amendment re-wrote history to an impermissible extent
The Court of Appeal (CA) has unanimously ruled that a retrospective amendment to the deed and rules of the BIC UK Pension Scheme (the Scheme) was invalid.
Last year, the High Court had ruled…
The smooth operation of a pension scheme depends on an efficient flow of information between the employer and the member. Frequently, the Pensions Ombudsman is asked to consider scheme trustees’ and employers’ duties on providing benefit information to members.
Where the law is silent, this can be a tricky area to navigate and considerable uncertainty…
