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BIC UK Limited v Burgess: Court of Appeal rules that retrospective amendment was invalid

United Kingdom - August 12 2019 In BIC UK Limited v Burgess and others, the Court of Appeal has ruled that benefit improvements which were not validly introduced in 1991 could not be…

Pensions Regulator sets out its expectations on long-term funding targets for Defined Benefit Schemes

United Kingdom - April 29 2019 The Pensions Regulator (TPR) has recently published its 2019 Annual Funding Statement, which applies to all trustees and sponsors of occupational…

Government proposes new civil and criminal sanctions for wilful or reckless mismanagement of defined benefit schemes

United Kingdom - March 15 2019 On 11 February 2019, the Government published a response to its June 2018 consultation on strengthening the powers of the Pensions Regulator (TPR). A…

PPF contingent assets to be re-executed by March deadline

United Kingdom - October 31 2018 Contingent assets can reduce the risk that an insolvency event results in a claim on the Pension Protection Fund (‘PPF’), or reduce the size of a…

CJEU rules on PPF compensation levels

European Union, United Kingdom - October 4 2018 The Pensions Act 2004 provides for compensation to be paid by the Private Protection Fund (PPF) to members of a qualifying scheme, amounting to 90%…