All Law articles – Page 3
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OpinionAll eyes on European Court’s Bauer ruling
A key European Court ruling in Bauer is to be released on December 19. If it goes in favour of members, it could be the biggest shock to the UK pensions system since the Barber case in 1990.
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News
Scheme goes to court to avoid £10m rules drafting mistake
An orthotics and prosthetics manufacturer has been forced to go to court to amend a word in pension scheme rules drafted 20 years ago, which if left unchanged would have cost the plan £10m.
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News
Lords bill seeks to give TPR dividend approval and scrap PPF cap
On the go: An ambitious bill brought before the House of Lords last week would give the Pensions Regulator approval over company dividend payments, and remove the cap on compensation payments made by the Pension Protection Fund.
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News
ECJ ruling could force PPF to provide buyout uplift
On the go: An opinion given to the European Court of Justice by its Advocate General could mean that defined benefit lifeboats like the Pension Protection Fund have to cover the entire value of members’ benefits when their sponsor becomes insolvent.
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NewsPPF could soon face court challenge on CVA stance, says barrister
The Pension Protection Fund could soon face a challenge to the way it acts in company voluntary arrangements, according to one legal expert, as it is seen as a ‘super creditor’ with preferential treatment in these restructuring processes.
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News
Government releases guidance on GMP equalisation
On the go: The Department for Work and Pensions has set out a 10-stage process for UK pension schemes to equalise guaranteed minimum pensions.
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Features
John Laing divests asset-backed funding from former sponsor
The John Laing Pension Fund has sold its remaining stake in infrastructure company John Laing Environmental Assets Group, a holding initially contributed to the scheme as part of a contingent funding plan in 2015.
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Features
Caffyns appoints fiduciary manager and overhauls portfolio
Trustees of the £86m Caffyns Pension Scheme have appointed a fiduciary manager to improve the performance of the fund’s assets, leading to a restructuring of its investment portfolio.
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OpinionTop tips for a successful approach to the bulk annuity market
From the blog: 2018 is set to be a record breaking year in the bulk annuity risk transfer market.
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News
Southern Water agrees higher DRCs after regulator investigation
Utility company Southern Water has agreed to pay significantly higher deficit repair contributions under a shorter recovery period, following an investigation by the Pensions Regulator.
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FeaturesNortel's £2.4bn buyout pricing beats offers from superfund
When Canadian telecoms company Nortel filed for bankruptcy in 2009, prospects for its defined benefit pension scheme members looked bleak.
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News
BA wins appeal over discretionary increase
The trustees of the Airways Pension Scheme went beyond their remit in granting a 0.2 per cent discretionary increase to members’ pensions in 2013, the Court of Appeal has ruled.
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News
DWP proposes power for regulator to impose civil fines of up to £1m
The Department for Work and Pensions has proposed granting the Pensions Regulator the ability to fine employers and associated parties up to £1m where they are found guilty of serious breaches and reckless behaviour.
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News
SNP bill seeks PPF support for orphan liabilities
A private members’ bill submitted by Scottish National Party MP Alan Brown last week could see the Pension Protection Fund taking on so-called orphan liabilities from multi-employer pension schemes.
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News
Regulator sees merit in criminal sanctions for DB sponsors
The Pensions Regulator is prepared to deploy tough new powers promised by the Department for Work and Pensions’ defined benefit white paper, although it admitted that there will be a high bar for beginning any criminal proceedings against sponsoring employers.
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Opinion
GDPR - A brave new world for the pensions industry
It is easy to imagine bunkers in remote corners of England, hatches locked, filled with trustees who are desperate not to hear any more about the General Data Protection Regulation.
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News
CMA: Fiduciary management not overly concentrated
Neither the investment consultancy or fiduciary management industries show signs of excessive concentration, the Competition and Markets Authority has found, but the vertical integration of the ‘big three’ firms could distort the market in future.
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NewsReuters steps up member comms during sponsor M&A
Trustees of the defined benefit schemes of Thomson Reuters have been updating members about the agreed sale of part of the business, as experts stress the fine line between saying too much or too little about a deal.
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OpinionWhat the EU’s money laundering directive means for schemes
From the blog: New money laundering regulations came into force in June 2017, implementing the EU’s Fourth Money Laundering Directive and replacing the Money Laundering Regulations 2007.
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News
Post Office workers’ scheme agrees £450m buy-in
The Royal Mail Pension Plan has agreed a £450m bulk annuity transaction to insure the liabilities of its Post Office Limited section.