On April 30, 2020, the Pensions Regulator published its 2020 funding statement for defined benefit (DB) schemes with valuation dates between September 22, 2019, and September 21, 2020. However, these COVID-19 times are challenging for all businesses, and the effects of the pandemic are relevant to all DB schemes.
The statement urges
UK Pensions – Could ethical veganism impact on future pension fund investments?
January 2020
In an employment tribunal preliminary hearing on 3 January 2020, Judge Robin Postle ruled that ethical veganism satisfies the tests required for it to be a philosophical belief, with the result that it was protected under the Equality Act 2010. For
Trustees of UK pension schemes which include old guaranteed minimum pensions have got a bit of a dilemma on their hands at the moment. They have to equalise benefits between men and women to paper over the inherent inequality in the GMPs themselves, which means correcting past underpayments. There are many questions raised by
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
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
Aside from the particular legislation prohibiting discrimination of employees on specific grounds such as age or gender, the French employment code does not provide for specific provisions concerning a more general principle which require the avoidance of inequality of treatment in the workplace. However, case law has progressively established this principle, particularly concerning remuneration, working
The decision of the Supreme Court of Canada in IBM Canada Limited v Richard Waterman, [2013] 3 S.C.R. 985, considered whether employees’ pension benefits should be deducted from damages for wrongful dismissal. The majority concluded, on the facts of this case, that no such deduction should occur.
The company dismissed a 65-year-old employee
Under German law, employers are obliged to check regularly (at least every three years) whether benefit payments from company pensions ought to be adjusted for inflation. In their check they may consider the company’s economic situation. Employers are not obliged to increase pension payments if they believe (and such belief is reasonable with a sufficient
In Germany, employees have the statutory right to ask their employers to pay part of their future earnings – up to 4 % of the relevant contribution assessment ceiling for the statutory pension fund – into an occupational pension scheme through the conversion of earnings into pension contributions. The German Federal Labour Court recently ruled