Clifford Chance

UK Pensions Update: February 2016

18 February 2016

Welcome to the February 2016 edition of the UK: Pensions Update

In this edition we focus on the end of contracting-out from 6 April and some key issues which may require action to be taken before then, as well as a reminder of the tax-relief changes also coming into force this April.

In this edition we also cover:

• the revised Code on Incentive Exercises;
• the Government's recent consultation on reforms to public sector exit payments;
• ESMA's recently published opinions on exemptions for pension schemes from derivatives clearing obligations;
• some key developments regarding auto-enrolment;
• the judgment in Scottish Solicitors Staff Pension Fund v Pattison & Sim and others and the Scots courts' approach to interpretation;
• the High Court's approval of a rectification application without trial in the recent case of Hogg Robinson plc v Harvey and others;
• an update on US Data protection issues, following the ruling in October last year that the "safe harbor" regime is invalid; and
• new legislation which means increased flexibility for tax-efficient investment in US real estate by non-US pension schemes.

 

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