Asking a court to rectify a mistake in pension documents is an arduous task. The law is complex and the evidence required is detailed. The recent High Court case of Re Mitchells and Butlers Pension Plan provides a leading example of how to do it right.
Protected Pension Age – update
The government has recently set out its proposals for increasing the Minimum Pension Age from 55 to 57, effective in 2028 when the State Pension Age will be increased to 67 for all.
The notifiable events regime was always intended as an early warning mechanism for the Pensions Regulator, alerting it to corporate activity that might adversely affect pension schemes, but as currently worded the regime only causes events to be notified as and when they are happening rather than before.
The Court of Appeal, through the decision in Adams v Carey has set out an important judgment as regards the scope of duties owed by SIPP operators, as well as the statutory construction of section 27 of the Financial Services and Markets Act 2000.
On 26 June 2018, The Pensions Regulator issued an online consultation regarding the expansion of its powers as proposed by the recent White Paper, Protecting Defined Benefit Pension Schemes. The consultation closes on 21 August 2018. The Regulator is seeking a wide range of responses.
In last month's White Paper, the Government set out plans to review the way defined benefit pension schemes are funded.
This month's White Paper on protecting defined benefit (DB) pension schemes aims to strengthen the Pensions Regulator's powers to protect final salary pensions with tough new measures to deal with company bosses who put pension schemes at risk.
THE Leeds office of leading North law firm Ward Hadaway has been shortlisted for four industry awards.
