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Trivial commutation of pension benefits - new rules

Norton Rose LLP
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United Kingdom
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September 1 2009

Many schemes find the current rules about commutation of small "trivial" pensions restrictive

Redundancy age discrimination justifiable - Rolls Royce v Unite The Union

Norton Rose LLP
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United Kingdom
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August 26 2009

In our Pensions update of October 2008, we reported on the original High Court decision in which the employer, Rolls Royce, argued unsuccessfully that using an employee’s length of service as a selection criterion for redundancy was unlawful age discrimination

Update on The Freedom SIPP Limited

Norton Rose LLP
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United Kingdom
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October 26 2009

The FSA has announced that The Freedom SIPP Limited (TFSL), a self-invested personal pension operator, has been wound up on a petition issued by Her Majesty’s Revenue and Customs (HMRC) for non-payment of tax

Tyler v Robert Fleming Benefit Consultants Limited and Minet Benefit Consultancy Limited

Norton Rose LLP
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United Kingdom
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August 18 2008

The Deputy Pensions Ombudsman has ordered the administrators of a wound-up pension scheme, who lost all records of a member’s contributions, to compensate the member by putting him in the position he would have been in had he been part of the bulk transfer on the winding-up of the scheme

Pension transfer values - the new regime

Norton Rose LLP
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United Kingdom
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August 26 2008

Amendments to the Occupational Pension Schemes (Transfer Value) Regulations 1996 come into force on 1 October 2008

Framework document between Pensions Ombudsman and DWP published

Norton Rose LLP
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United Kingdom
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November 26 2009

The Pensions Ombudsman (PO) and the DWP have announced the publication of a framework document, effective from 1 October 2009

McLeish (774262) - early leavers should receive sufficient information to decide between options

Norton Rose LLP
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United Kingdom
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May 26 2010

In this case, the Pensions Ombudsman (the PO) determined that a pension scheme administrator should have provided the member (M) with enough information upon which to make a proper decision as to his pension benefit options

Refund of scheme surplus to employer - deadline looms for retaining option

Norton Rose LLP
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United Kingdom
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May 26 2010

The provision which usually exists under pension scheme rules for repaying to sponsoring employers any funding surplus is something that trustees and employers should consider before 6 April 2011

Financial Assistance Scheme (Tax) Regulations 2010

Norton Rose LLP
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United Kingdom
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April 27 2010

The above Regulations will come into force on 1 May 2010 and are intended to ensure that asset transfer payments made by schemes to the DWP are authorised payments for tax purposes, and that compensation payments made by the FAS are treated on the same basis as payments by registered pension schemes

IMA welcomes draft principles on DC pension schemes

Norton Rose LLP
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United Kingdom
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February 22 2010

The Investment Management Association (IMA) has issued a short press release responding to the Investment Governance Group's consultation paper on draft investment governance principles and best practice guidance for both trust-based and contract-based defined contribution work-based pension schemes

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