Clifford Chance
UK: Pensions Update: August 2016
23 August 2016
Welcome to the August 2016 edition of the UK: Pensions Update.
In this edition we focus on a number of recent court judgments covering issues such as PPF compensation, implied contracts and liability for section 75 debts, and considerations for scheme actuaries on bulk transfers without consent; as well as taking a look at the recent consultations on capping early exit charges and the details of the proposed secondary annuity market.
In this edition we also cover:
- The Select Committee's recently launched inquiry into DB pension scheme regulation;
- Legal action which could provide clarity on GMP equalisation;
- The new EU-US "Privacy Shield";
- The revised DC Code of Practice, which recently came into force;
- The Pensions Regulator's discussion paper on 21st century trusteeship;
- A glitch in the contracting-out regulations regarding trivial commutation of GMPs;
- The Supreme Court's reference to the CJEU on the UK requirement for transgender individuals to be unmarried to qualify for state pension;
- An update on VAT recovery on pension scheme management; and
- A number of other updates in brief.
