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Advocate General concludes that qualifying periods can restrict freedom of movement
- Herbert Smith Freehills LLP
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- European Union, United Kingdom
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- December 3 2010
Employers who transfer employees between member states may need to consider how to ensure that members' benefits are not adversely affected by the transfer in light of a decision of the Advocate General in Maurits Casteels v British Airways plc (C-37909
DWP to consult on that legislation on RPICPI
- Herbert Smith Freehills LLP
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- United Kingdom
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- December 3 2010
In previous bulletins we have outlined the Government's proposals to allow private sector pension schemes to switch from using the Retail Prices Index (RPI) to the (usually lower) Consumer Prices Index (CPI) as the measure of inflation for the purposes of revaluing pensions in deferment and increasing pensions in payment
New disclosure regulations came into force on 1 December 2010
- Herbert Smith Freehills LLP
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- United Kingdom
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- December 3 2010
New regulations (the Occupational, Personal and Stakeholder Pension Schemes (Disclosure of Information) (Amendment) Regulations (SI 20102659)) have amended the disclosure requirements applicable to all pension schemes with effect from 1 December 2010
PPF administration and general levies to remain unchanged
- Herbert Smith Freehills LLP
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- United Kingdom
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- December 3 2010
In a written Parliamentary statement, the Government has confirmed that both the Pension Protection Fund (PPF) administration levy and the general levy will not be increased in the financial year 201112
The issue: difficulties in changing a scheme’s PIP and problems with information requirements under the government’s tax proposals
- Herbert Smith Freehills LLP
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- United Kingdom
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- December 3 2010
Administrative complications may arise where a scheme's "scheme year" (used, for example, to determine pensionable salary) and the tax year are out of sync with their PIP
Ombudsman holds that failing to highlight a key assumption in a benefit quotation can constitute maladministration
- Herbert Smith Freehills LLP
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- United Kingdom
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- December 3 2010
In Mellodey, a member complained that that the trustees of the Kodak Pension Plan gave him incorrect information regarding his benefits, on which he relied to his detriment, both at the point he left service (in 1989) and subsequently (in 2005, just prior to retirement
PIPs: how they work
- Herbert Smith Freehills LLP
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- United Kingdom
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- December 3 2010
A scheme's PIP is the 12 month reference period (ending within the tax year) used to test members' "pension input amounts" against the annual allowance
EAT suggests that in some circumstances costs may be a ground to justify any age discrimination
- Herbert Smith Freehills LLP
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- United Kingdom
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- December 3 2010
In Woodcock v Cumbria Primary Care Trust the Employment Appeal Tribunal (in upholding the Employment Tribunal's original finding) suggested that it might be possible for costs alone to be used to justify age discrimination
Court of Appeal upholds “no detriment” guarantee against subsequent employer
- Herbert Smith Freehills LLP
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- United Kingdom
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- December 3 2010
In Robert Whitney v Monster Worldwide Limited, the Court of Appeal upheld an earlier decision by the High Court that "no detriment" assurances given to an employee by a previous employer following closure of its final salary scheme amounted to a binding guarantee that could be enforced even against a subsequent employer
Regulator issues statement on employer-related investments: focus on asset-backed funding structures
- Herbert Smith Freehills LLP
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- United Kingdom
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- December 3 2010
On 10 November, the Pensions Regulator published a statement on employer-related investments (ERIs) aimed at trustees, employers and their advisers
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