All Norton Rose articles – Page 2
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News
Employers face increased pension loss payouts after NHS case
Employers may be liable to pay increased compensation relating to pension loss to employees dismissed unfairly, lawyers have warned, after a tribunal appeal found an earlier decision had miscalculated the sum owed to an NHS scheme member.
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Features
Vodafone scheme completes CWW merger with £325m employer payment
Vodafone has contributed £325m to its defined benefit scheme as it completes the transfer of the Cable & Wireless Worldwide Retirement Plan, after purchasing the rival telecoms company in 2012.
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News
Covenant-lite market expands as small schemes digest DB code
Small and medium-sized employers’ pension schemes are finding greater access to pared-down, lower-cost covenant assessments following the Pensions Regulator’s revised defined benefit code of practice, which has increased focus on employer strength.
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Features
Shell surpasses legal minimum by equalising same-sex spouse benefits
Shell has gone above the legal minimum to guarantee same-sex married couples equal spousal benefits in its defined benefit pension fund, while other schemes have maintained a tiered benefit for same-sex partners.
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Features
BT suspends flexible retirement options during review
BT has suspended its flexible retirement option while it reviews the conditions under which it will consent to BT Pension Scheme members taking early payment of their pension while continuing to work at the communications company.
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News
NUJ to appeal ombudsman ruling over BBC pensionable pay cap
The National Union of Journalists will appeal the pensions ombudsman’s determination that the BBC's pensionable pay cap did not breach its obligations, as more employers look to such tools to derisk schemes.
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OpinionBA scheme inserts murder exemption into rules
The New Airways Pension Scheme has made an amendment to its scheme rules to be able to deny benefit to a member’s spouse or dependant who is guilty of that member’s murder.
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News
Experts divided on takeover code change implications
Legal experts are split on whether changes to the takeover code coming into effect today have any impact on the power of pension schemes whose sponsors are the target of a merger or acquisition.
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FeaturesBAE ups debt guarantees to safeguard benefits
BAE Systems has negotiated more security to the members of its pension schemes by increasing its security guarantees to 105 per cent of its debts.
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Features
Half of schemes considering ETVs to reduce risk
With research finding 50% of schemes are considering an enhanced transfer value (ETV) exercise to reduce their longevity risk, Ian Smith analyses five key elements of the process.
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Features
Hybrid DC ruling prompts review of safety nets
Schemes should revisit how certain benefits are protected by funding legislation, following the Supreme Court judgement on hybrid scheme design.
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Features
CPI legislation will increase scheme costs
Schemes which revalue benefits according to the retail prices index (RPI) will face the increased costs of a double calculation under the government’s final plans for scheme indexation.
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Features
Managers tussle with growing CPI complexity
As Unison considers joining the public sector juridical review of the RPI-CPI shift, schemes face growing fairness and practical challenges on amending benefits, lawyers have warned.
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