Clifford Chance
UK: Pensions Update - December 2012
12 December 2012
Welcome to the December 2012 edition of the UK: Pensions Update.
In this edition we focus on the Chancellor's Autumn Statement which includes the hotly anticipated reductions to the Annual Allowance and Lifetime Allowance as trailed in the press recently. More controversial however is the government's consultation to alter the discount rates used to calculate scheme liabilities.
In this edition we also cover:
•The Chancellor's Autumn Statement
•The Pensions Regulator's statement on financial support directions ("FSD") and insolvency
•FATCA
•PPF confirms 'underpin' method to equalising GMPs
•IBM case – rectification of documents and variation of schemes by contract
•TUPE – Procter & Gamble v SCA
•Fair Deal
•Public Service Bill
•The abolition of stakeholder pensions and the advent of auto-enrolment
