Welcome to your Weekly Update from the Allen & Overy Pensions team, bringing you up to speed on all the latest legal and regulatory developments in
The UK electorate voted to leave the European Union in a so-called Brexit referendum. The initial impact for occupational pension schemes has come
Contracting-out of the State Second Pension on a money purchase basis (known as a ‘protected rights’ basis) will be abolished from 6 April 2012.
The DWP has issued a consultation seeking views on two proposed changes to regulations concerning contracting-out.
The DWP and HMRC have issued factsheets, one for employers and one for trustees, to help plan for the abolition of DC contracting-out from April 2012.
The last few months have seen a plethora of announcements, consultations, draft legislation and of course plenty of speculation.
Automatic enrolment for personal accounts introduced for some schemes.
The DWP has issued a consultation paper on the draft Occupational, Personal and Stakeholder Pensions (Miscellaneous Amendments) Regulations 2009 (the Regulations).
The DWP has published draft regulations for consultation which will allow (but not compel) contracted-out occupational pension schemes to convert Guaranteed Minimum Pensions to scheme benefits, probably from 6 April 2009.
On 5 December the DWP published its response to its consultation on the Deregulatory Review Report prepared by Chris Lewin and Ed Sweeney.