The Month in Pensions - Gowling WLG

Sep 21, 2017

Key points

• Tax relief in the context of pensions (both during the saving phase and at the point of access) requires care and attention.
• Under the current UK tax regime, pension savings which exceed the "Annual Allowance" or "Lifetime Allowance" are subject to taxation. Employers may want to consider altering...

Sep 19, 2017

Key points

• Trustees cannot act lawfully when unduly influenced by a conflict of interest;
• A conflict of interest can impact on the validity of a trustee decision and on the management of the pension scheme;
• The Pensions Regulator has issued guidance around conflicts of interest;
• Trustees need to understand, identify and...

Sep 14, 2017

Key Points

• TUPE is a very complicated area of employment law. It is particularly difficult when it interacts with pension rights. Specific legal advice is advised if you are dealing with pension rights under TUPE.
• TUPE does not generally apply to pension benefits. As a result, an employee's entitlement to pension...

Sep 12, 2017

Key Points

• Calculating pension loss can be complex, especially where the employee was defined benefit pension scheme.
• The Employment Tribunal service published a 2003 guidance note which suggested two methods for approximating pension loss without the need for actuarial advice, but this guidance has now...

Sep 7, 2017

Key points

• Under a pensions salary sacrifice arrangement an employee gives up part of their cash salary in return for pension benefits
• Typically the employee's salary is reduced by the amount that they were previously paying as employee contributions to a pension scheme and the employer pays an equal amount to the...