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Clifford Chance

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.
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