Pensions - Gowling Wlg

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Sinopsis

Gowling WLG's Pensions experts discuss the latest developments.NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.

Episodios

  • The Month In Pensions – December 2021 – Working from home 2.0

    05/01/2022 Duración: 26min

    In The Month In Pensions for December 2021, Ian Chapman-Curry looks at what a return to working from home and the broader shift to agile working means for the pensions industry. We then look over some of the key developments that have made the headlines in the world of pensions in December 2021, including: Deadline reminder for trustees to submit compliance statement to the CMA - Click here for the CMA’s order and reporting requirements FCA publishes final rules on facilitating a stronger nudge to Pension Wise guidance - Click here for the FCA’s final rules and guidance on the stronger nudge to guidance DWP consults on changes to the charge cap for default funds used for automatic enrolment - Click here for the DWP’s consultation ‘Consultation on enabling investment in productive finance (30 November 2021)’ TPR announces inclusion of the first superfund on its online register - Click here for TPR’s DB superfunds list and assessment TPR issues guidance on the governance and reporting of climate-related ri

  • The Month In Pensions – October 2021 – Prosecco over pensions

    03/11/2021 Duración: 41min

    In The Month In Pensions for October 2021, Ian Chapman-Curry looks at what the Autumn budget and spending review covered on pensions (or, rather, what it didn't cover). In this month's interview, Ian Gordon takes us through two key cases (Britvic and Axminster), judgments for which were handed down in June. We also look over some of the other developments that have made the headlines in the world of pensions in October 2021, including: Pension Schemes Act 2021 brings in new TPR powers - ‘Pensions law is changing on 1 October 2021 - Are you ready? (29 September 2021)’. TPR sets out how it intends to use its new powers - ‘The Pension Schemes Act 2021: The new landscape for DB schemes (26 October 2021)’. The PPF consults on its 2022/23 levy rules TPO issues guidance on communicating with members ‘Annual Report shines a spotlight on activity at The Pensions Ombudsman (7 October 2021)’; and TPO’s ‘Communicating with members (1 October 2021)’. DWP finalises legislation for simpler annual benefit statements

  • The Month In Pensions - March 2021 - You wait for one consultation…

    31/03/2021 Duración: 33min

    In The Month In Pensions for March 2021, Ian Chapman-Curry looks at the wave of consultations that have been released by government departments and The Pensions Regulator. In this month's interview, Liz Wood explains the impact that the Pension Schemes Act 2021 will have on employers that sponsor defined benefit pension schemes. We also look over some of the other developments that have made the headlines in the world of pensions in March 2021, including: TPR launches consultation on draft single code of practice - Click here for TPR's ‘New code of practice consultation’ (17 March 2021). DWP consults on information gathering powers - Click here for the DWP's consultation ‘Strengthening The Pension Regulator’s Powers: Contribution Notice and Information Gathering Powers Regulations 2021’ (18 March 2021). TPR consults on employer resources test regulations - Click here for the DWP’s consultation ‘Strengthening The Pension Regulator’s Powers: Contribution Notice and Information Gathering Powers Regulations 2

  • The Month In Pensions – February 2021 – The end of the quarterly trustee meeting?

    03/03/2021 Duración: 12min

    In The Month In Pensions for February 2021, Ian Chapman-Curry looks at a survey of defined benefit scheme trustees that suggests the age of the quarterly trustee meeting is over. We also look over some of the other developments that have made the headlines in the world of pensions in February 2021, including: Government issues further consultation on climate change risk - See details of the new consultation 'Taking action on climate risk: improving governance and reporting by occupational pension schemes - response and consultation on regulations' on the Department for Work and Pensions' consultation webpage; and Listen to our on demand webinar on ESG implementation – challenges and practical solutions. The Pensions Regulator (TPR) confirms increase in regulatory activity in Q4 2020 - Visit  the TPR’s press release 'Enforcement activity rises as expected to protect savers (18 February 2021)'. Pensions Protection Fund (PPF) publishes levy rules and policy statement for 2021/22 levy year - See the PPF’s 20

  • The Month In Pensions – January 2021 – Time for the Pension Schemes Act 2021

    26/01/2021 Duración: 16min

    In The Month In Pensions for January 2021, Ian Chapman-Curry focuses on the legislation that will become the Pension Schemes Act 2021. At the point of recording, the Pension Schemes Bill 2019 – 21 was on the cusp of receiving Royal Assent so this episode focuses on what it will mean for pension scheme trustees and employers. When enacted, the Pensions Schemes Bill 2019 – 21 will see changes to the funding regime for defined benefit pension schemes along with giving The Pensions Regulator more powers. It will also provide the statutory framework for pensions dashboards and collective defined contribution schemes. We've created one page overviews of the key issues and actions for trustees and scheme sponsors: Trustees for our one page overview for trustees; and Sponsors for our one page overview for scheme sponsors. We'll also look over some of the other developments that have made the headlines in the world of pensions in January 2021, including: DWP publishing its response to default fund charge cap cons

  • The Month In Pensions – December 2020 – Pensions in 2021 – key trends and developments

    30/12/2020 Duración: 24min

    In The Month In Pensions for December 2020, Ian Chapman-Curry focuses on the key trends and developments that will dominate the world of pensions in 2021. With a backlog of legislative, regulatory and policy developments, 2021 promises to be a busy year for anyone working in the pensions industry. The Pensions Schemes Bill 2019 – 21 will see changes to the funding regime for defined benefit pension schemes along with giving The Pensions Regulator more powers. It will also provide the statutory framework for pensions dashboards and collective defined contribution schemes. But 2021 will be about more than primary legislation. The Pensions Regulator will be updating its codes of practice as it moves towards a single code, environmental, social and governance issues will continue to be a trend, with an increasing emphasis on climate responsible investing and the government will tackle discrimination issues in public sector pension schemes. With so much going on, we've brought together ten key trends covering the

  • The Month In Pensions – November 2020 – Are you ready for cyber scams?

    02/12/2020 Duración: 22min

    In The Month In Pensions for November 2020, we focus on two related and increasingly intertwined areas – pension scams and cyber crime - and ask are you ready for cyber scams? Ian Chapman-Curry is then joined by Charlotte Scholes, a principal associate in our specialist pension disputes team, to discuss the latest in GMP equalisation with the third judgment on Lloyds. Also covered in this month's edition are: TPR asks trustees to pledge to combat scams - Click here for TPR’s press release ‘Make a pledge to combat pension scams, industry urged (10 November 2020)’: https://bit.ly/2KZnPt3; PASA issues cyber crime guidance - Click here for PASA’s ‘Cybercrime Guidance (November 2020)’: https://bit.ly/2VoA447; DWP publishes statement of policy intent for guidance ‘nudge’; TPR publishes new trustee guidance on sponsoring employer distress - Click here for TPR’s guidance ‘Protecting schemes from sponsoring employer distress’: https://bit.ly/3qm2A4D; Pension Schemes Bill 2019-21 clears the House of Commons - Click h

  • The Month In Pensions – October 2020 – Where will you be in 15 years' time?

    26/10/2020 Duración: 14min

    In The Month In Pensions for October 2020, we join The Pensions Regulator in gazing into the future and consider what the world of pensions will be like in 15 years' time. See The Pension Regulator's 'Pensions of the future - a discussion on our strategy (16 October 2020)': https://bit.ly/3owKcp6  Also covered in this month's edition are: DWP gives green light to standardised simpler annual benefit statements for DC auto enrolment pension schemes (See the DWP’s response to its consultation ‘Simpler annual benefit statements for workplace pensions’: https://bit.ly/3kEp7GY); PPF consults on the 2021/22 levy (See the PPF’s consultation ‘Have your say on our 2021/22 levy rules’: https://bit.ly/3mraS8D); Public sector exit payment caps to come into force (See our insight ‘Public sector exit cap in force from 4 November 2020 (15 October 2020)’: https://bit.ly/3dZW91z); TPR publishes new guidance on superfunds (See TPR's guidance 'Superfund guidance for prospective ceding trustees and employers (21 October 2020)’:

  • Back to school, back to reality - The Month in Pensions - September 2020

    28/09/2020 Duración: 27min

    In The Month In Pensions for September 2020, we go back to school and consider what is coming down the tracks for trustees and employers in the final third of 2020. Ian Chapman-Curry is also joined by Gowling WLG pensions partner Christopher Stiles to discuss his latest Insight on GMP equalisation: https://bit.ly/30zranJ  Also covered in this month's edition are: TPR's confirmation of the end of the COVID-19 easements on reporting payment failures; Government consultation on ESG and climate change (https://bit.ly/36iUO4e); Government consultation on investment innovation and improving outcomes for DC members (https://bit.ly/2EHVpko); Pensions Minister confident that the Pension Schemes Bill 2019 - 21 will be in law this year; Government confirms plans to increase the minimum pension age (https://bit.ly/36dwtg5); Pensions Dashboard Programme to publish initial data standards for dashboards by the end of 2020 (https://bit.ly/30j7Z11); and High Court rectifies successive deeds in summary judgment (https://bit.l

  • The robot will see you now - The Month In Pensions - July 2020

    27/07/2020 Duración: 30min

    In The Month In Pensions for July 2020, we focus on the role that technology will play in improving customer service in the pensions industry. Ian Chapman-Curry is also joined by Gowling WLG pensions partner Joanne Tibbott to discuss the Department for Work and Pensions' review of the charge cap that is applicable to certain defined contribution schemes. For the full text of Joanne's Insight, visit: https://gowlingwlg.com/en/insights-resources/articles/2020/dwp-kicks-off-charge-cap-review/ Also covered in this month's edition are: - the Pension Schemes Bill 2019 - 21 delayed until autumn; - Government consultations on changes to public sector pension schemes; - PLSA publish a simple guide to GMP equalisation Click here for the PLSA’s ‘Simple Guide to GMP Equalisation’; Click here for the first part of our introductory Insights on GMP equalisation; Click here for the second part of our introductory Insights on GMP equalisation. - High Court rectifies pension scheme’s increase rules to remove hardwired RP

  • Tipping point for consolidation? - The Month In Pensions - June 2020

    29/06/2020 Duración: 23min

    In The Month In Pensions for June 2020, have we reached a tipping point for consolidation in the pensions industry? Is it time for superfunds and collective defined contribution?   And, in a month with plenty of sobering economic news, what are the options for pension scheme trustees and employers in distress? Ian Chapman-Curry is joined by Christopher Stiles to discuss his latest Insights on the options that are available for those faced with difficult market conditions and what a new insolvency regime means for trustees of defined benefit occupational pension schemes. For the full text of Christopher's Insights, visit www.tinyurl.com/TMIP2006C and www.tinyurl.com/TMIP2006D Also covered in this month's edition are: - TPR updating its measures on helping pension schemes tackle COVID-19 challenges (see TPR's press release at www.tinyurl.com/TMIP2006A); - the Financial Conduct Authority's package of measures on defined benefit transfers and transfer advice (see the FCA's DB transfer webpage at www.tinyurl.com/T

  • Accelerating the pace of change (The Month In Pensions - May 2020)

    26/05/2020 Duración: 23min

    In The Month In Pensions for May 2020, is COVID-19 accelerating the pace of change and the adoption of technological and digital solutions in the pensions industry? Ian Chapman-Curry is joined by Jason Coates to discuss his latest Insight on how coronavirus has not ushered in a 'new normal' in pensions but has, instead, been the catalyst for an accelerated normal. Pre-existing trends have been brought to the forefront and change is, if anything, speeding up. For the full text of Jason's Insight, visit www.tinyurl.com/TMIP2005C. Also covered in this month's edition are: - The Pension Regulator's new and updated guidance on dealing with COVID-19 in pensions (see our Insight on this at www.tinyurl.com/TMIP2005A); - The Pension Regulator's Annual Funding Statement (our full Insight on this is at www.tinyurl.com/QU202002A); and - the High Court deals with CPI / RPI issues twice (see www.tinyurl.com/ QU202002X for the full text of Ove Arup & Partners International Ltd). This episode finishes with a roundup of k

  • Adapting to a new normal - The Month In Pensions April 2020

    28/04/2020 Duración: 11min

    The Month In Pensions looks at the key developments in the UK pensions industry over the previous month. For April 2020, we focus on the continued impact that COVID-19 is having on the pensions industry, delays to government and regulatory consultations and the impact of the lockdown on pension scheme deficits. We also look forward to some of the developments to expect in May 2020.

  • Business Continuity in a Time of Crisis - The Month In Pensions March 2020

    31/03/2020 Duración: 16min

    The Month In Pensions looks at the key developments in the UK pensions industry over the previous month. For March, we focus on the impact that coronavirus is having on business continuity planning, the progress of the Pension Schemes Bill 2019 – 21, the increased attention on ESG matters and the much anticipated TPR consultation on the revised defined benefit funding code. We also look forward to some of the developments to expect in April. https://gowlingwlg.com/en/insights-resources/articles/2020/the-month-in-pensions-march-2020/

  • PI30P 30 - Pension schemes and tax for individuals

    21/09/2017 Duración: 11min

    Key points   Tax relief in the context of pensions (both during the saving phase and at the point of access) requires care and attention. Under the current UK tax regime, pension savings which exceed the "Annual Allowance" or "Lifetime Allowance" are subject to taxation. Employers may want to consider altering benefit structures for high earners. Taxation at the point of accessing pension savings depends upon the manner in which those savings are accessed. There are "unauthorised payments" and "authorised payments", with tax levied depending on the precise type of payment. From 6 April 2015 changes were made to make access to DC pension savings more flexible (with taxation rules also changed).  

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