The Month in Pensions - Gowling WLG

The Month in Pensions discusses the latest developments in the UK pensions world with insight from the Pensions team at international law firm Gowling WLG. NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.

The Month In Pensions – December 2021 – Working from home 2.0 01/05/2022

The Month In Pensions – October 2021 – Prosecco over pensions 11/03/2021

The Month In Pensions - March 2021 - You wait for one consultation… 03/31/2021

The Month In Pensions – February 2021 – The end of the quarterly trustee meeting? 03/03/2021

The Month In Pensions – February 2021 – The end of the quarterly trustee meeting? In The Month In Pensions for February 2021, Ian Chapman-Curry looks at a survey of defined benefit scheme trustees that suggests the age of the quarterly trustee meeting is over. We also look over some of the other developments that have made the headlines in the world of pensions in February 2021, including: Government issues further consultation on climate change risk - See details of the new consultation 'Taking action on climate risk: improving governance and reporting by occupational pension schemes - response and consultation on regulations' on ; and Listen to our . The Pensions Regulator (TPR) confirms increase in regulatory activity in Q4 2020 - Visit the . Pensions Protection Fund (PPF) publishes levy rules and policy statement for 2021/22 levy year - See the for details. The Pensions Administration Standards Association (PASA) issues guidance on tax issues in GMP equalisation - Visit . The Pension Schemes Act 2021 becomes law – Visit our ; and See our . Then we take a quick look at what is coming down the tracks for pensions in March 2021. You can find this episode and the accompanying transcript on our website: For more Insights, or to find out more about the pensions team at Gowling WLG, please visit Gowling WLG is an international full-service law firm working across a range of industry sectors including real estate, government, financial services, life sciences and technology. We operate across the world with offices in the UK, Europe, Canada and the Middle East. We regularly talk about a broad range of topics that may be of interest to you. Subscribe to receive our latest articles, podcasts and webinars straight to your inbox: Alternatively, you can view our full selection of insights and resources here: Want to get to know us? Follow us on: LinkedIn: Twitter: Facebook: Instagram: This podcast may contain information of general interest about current legal issues, but does not give legal advice. /episode/index/show/gowlingwlgpensions/id/18156371

The Month In Pensions – January 2021 – Time for the Pension Schemes Act 2021 01/26/2021

The Month In Pensions – January 2021 – Time for the Pension Schemes Act 2021 In The Month In Pensions for January 2021, Ian Chapman-Curry focuses on the legislation that will become the Pension Schemes Act 2021. At the point of recording, the Pension Schemes Bill 2019 – 21 was on the cusp of receiving Royal Assent so this episode focuses on what it will mean for pension scheme trustees and employers. When enacted, the Pensions Schemes Bill 2019 – 21 will see changes to the funding regime for defined benefit pension schemes along with giving The Pensions Regulator more powers. It will also provide the statutory framework for pensions dashboards and collective defined contribution schemes. We've created one page overviews of the key issues and actions for trustees and scheme sponsors: ; and . We'll also look over some of the other developments that have made the headlines in the world of pensions in January 2021, including: DWP publishing its response to default fund charge cap consultation (); Government announces expansion of Dormant Assets Scheme to certain pension assets ( ); TPR issues interim response to its funding code consultation ( ); PPF issues response to its levy consultation (); and Small Pots Working Group issues report (). You can find this episode and the accompanying transcript on our website: For more Insights, or to find out more about the pensions team at Gowling WLG, please visit Gowling WLG is an international full-service law firm working across a range of industry sectors including real estate, government, financial services, life sciences and technology. We operate across the world with offices in the UK, Europe, Canada and the Middle East. We regularly talk about a broad range of topics that may be of interest to you. Subscribe to receive our latest articles, podcasts and webinars straight to your inbox: Alternatively, you can view our full selection of insights and resources here: Want to get to know us? Follow us on: LinkedIn: Twitter: Facebook: Instagram: This podcast may contain information of general interest about current legal issues, but does not give legal advice. /episode/index/show/gowlingwlgpensions/id/17696285

The Month In Pensions – December 2020 – Pensions in 2021 – key trends and developments 12/30/2020

The Month In Pensions – December 2020 – Pensions in 2021 – key trends and developments In The Month In Pensions for December 2020, focuses on the key trends and developments that will dominate the world of in 2021. With a backlog of legislative, regulatory and policy developments, 2021 promises to be a busy year for anyone working in the pensions industry. The Pensions Schemes Bill 2019 – 21 will see changes to the funding regime for defined benefit pension schemes along with giving The Pensions Regulator more powers. It will also provide the statutory framework for pensions dashboards and collective defined contribution schemes. But 2021 will be about more than primary legislation. The Pensions Regulator will be updating its codes of practice as it moves towards a single code, environmental, social and governance issues will continue to be a trend, with an increasing emphasis on climate responsible investing and the government will tackle discrimination issues in public sector pension schemes. With so much going on, we've brought together ten key trends covering the most important issues that will dominate agendas and work streams throughout the year. Make sure that you stay ahead of the curve with our guide to in 2021. You can find this episode and the accompanying transcript on our website: For more Insights, or to find out more about the pensions team at Gowling WLG, please visit Gowling WLG is an international full-service law firm working across a range of industry sectors including real estate, government, financial services, life sciences and technology. We operate across the world with offices in the UK, Europe, Canada and the Middle East. We regularly talk about a broad range of topics that may be of interest to you. Subscribe to receive our latest articles, podcasts and webinars straight to your inbox: Alternatively, you can view our full selection of insights and resources here: Want to get to know us? Follow us on: LinkedIn: Twitter: Facebook: Instagram: This podcast may contain information of general interest about current legal issues, but does not give legal advice. /episode/index/show/gowlingwlgpensions/id/17366618

The Month In Pensions – November 2020 – Are you ready for cyber scams? 12/02/2020

The Month In Pensions – October 2020 – Where will you be in 15 years' time? 10/26/2020

The Month In Pensions – October 2020 – Where will you be in 15 years' time? In The Month In Pensions for October 2020, we join The Pensions Regulator in gazing into the future and consider what the world of pensions will be like in 15 years' time. See The Pension Regulator's 'Pensions of the future - a discussion on our strategy (16 October 2020)': Also covered in this month's edition are: DWP gives green light to standardised simpler annual benefit statements for DC auto enrolment pension schemes (See the DWP’s response to its consultation ‘Simpler annual benefit statements for workplace pensions’: ); PPF consults on the 2021/22 levy (See the PPF’s consultation ‘Have your say on our 2021/22 levy rules’: ); Public sector exit payment caps to come into force (See our insight ‘Public sector exit cap in force from 4 November 2020 (15 October 2020)’: ); TPR publishes new guidance on superfunds (See TPR's guidance 'Superfund guidance for prospective ceding trustees and employers (21 October 2020)’: ); Action Fraud reveals extent of pension scam activity in wake of COVID-19; and ECJ decides on VAT and pension management services case (See the full text in the judgment of United Biscuits (Pensions Trustees) Ltd. and another v Commissioners for HM Revenue and Customs (C‑235/19): ). We also look forward to some of the developments to expect in November 2020. You can find this episode and the accompanying transcript on our website: https://gowlg.co/3QCwspt For more Insights, or to find out more about the pensions team at Gowling WLG, please visit . Gowling WLG is an international full-service law firm working across a range of industry sectors including real estate, government, financial services, life sciences and technology. We operate across the world with offices in the UK, Europe, Canada and the Middle East. We regularly talk about a broad range of topics that may be of interest to you. Subscribe to receive our latest articles, podcasts and webinars straight to your inbox: https://gowlg.co/35efH2r Alternatively, you can view our full selection of insights and resources here: Want to get to know us? Follow us on: LinkedIn: https://gowlg.co/3hqmatB Twitter: https://gowlg.co/35Do0nY Facebook: https://gowlg.co/3th2w8N Instagram: https://gowlg.co/3tEf2iq This podcast may contain information of general interest about current legal issues, but does not give legal advice. /episode/index/show/gowlingwlgpensions/id/16549193

The Month in Pensions - September 2020 - Back to school, back to reality 09/28/2020

The Month in Pensions - September 2020 - Back to school, back to reality In The Month In Pensions for September 2020, we go back to school and consider what is coming down the tracks for trustees and employers in the final third of 2020. Ian Chapman-Curry is also joined by Gowling WLG pensions partner Christopher Stiles to discuss his latest Insight on GMP equalisation: Also covered in this month's edition are: TPR's confirmation of the end of the COVID-19 easements on reporting payment failures; Government consultation on ESG and climate change (); Government consultation on investment innovation and improving outcomes for DC members (); Pensions Minister confident that the Pension Schemes Bill 2019 - 21 will be in law this year; Government confirms plans to increase the minimum pension age (); Pensions Dashboard Programme to publish initial data standards for dashboards by the end of 2020 (); and High Court rectifies successive deeds in summary judgment (). We also look forward to some of the developments to expect in October 2020. You can find this episode and the accompanying transcript on our website: https://gowlingwlg.com/en/insights-resources/podcasts/2020/the-month-in-pensions-september-2020/ For more Insights, or to find out more about the pensions team at Gowling WLG, please visit www.gowlingwlg.com/pensions-uk. Gowling WLG is an international full-service law firm working across a range of industry sectors including real estate, government, financial services, life sciences and technology. We operate across the world with offices in the UK, Europe, Canada and the Middle East. We regularly talk about a broad range of topics that may be of interest to you. Subscribe to receive our latest articles, podcasts and webinars straight to your inbox: https://gowlg.co/35efH2r Alternatively, you can view our full selection of insights and resources here: https://gowlg.co/3IwEr41 Want to get to know us? Follow us on: LinkedIn: https://gowlg.co/3hqmatB Twitter: https://gowlg.co/35Do0nY Facebook: https://gowlg.co/3th2w8N Instagram: https://gowlg.co/3tEf2iq This podcast may contain information of general interest about current legal issues, but does not give legal advice. /episode/index/show/gowlingwlgpensions/id/16183583

The Month In Pensions - July 2020 - The robot will see you now 07/27/2020

The Month In Pensions - June 2020 - Tipping point for consolidation? 06/29/2020

The Month In Pensions - May 2020 - Accelerating the pace of change 05/26/2020

The Month In Pensions - April 2020 - Adapting to a new normal 04/28/2020

The Month In Pensions - March 2020 - Business Continuity in a Time of Crisis 03/31/2020

Getting ready for GDPR - Part five - Communicating with members 03/27/2018

Getting ready for GDPR - Part four - Legal issues and trustee decisions 03/27/2018

Getting ready for GDPR - Part three - Dealing with third parties 03/27/2018

Getting ready for GDPR - Part two - Understanding your scheme's data 03/27/2018

Getting ready for GDPR - Part one - Data protection laws are changing 03/27/2018

Pensions in 30: 30. Pension schemes and tax for individuals 09/21/2017

Pensions in 30: 29. Conflicts of interest and pension scheme trustees 09/19/2017

Pensions in 30: 28. The Transfer of Undertakings (Protection of Employment) Regulations and pensions 09/14/2017

Pensions in 30: 27. Termination of employment - compensation for pension losses 09/12/2017

Pensions in 30: 26. Salary sacrifice and pensions 09/07/2017

Pensions in 30: 25. Family leave and impact on pensions contributions and benefits 09/05/2017

Pensions in 30: 24. Sex discrimination, marital and civil partnership 08/31/2017

Pensions in 30: 24. Sex discrimination, marital and civil partnership Discrimination: Sex Key Points This note is primarily focussed on the sex discrimination issues which have arisen in relation to occupational pension schemes (rather than personal pension schemes), because this is where most of the sex discriminatory practices have been identified. The Equality Act 2010 (the "Act") applies to both employers participating in occupational pension schemes and the trustees of such schemes. The Equality Act 2010 also inserts an overriding non-discrimination rule into occupational pension schemes if they do not already contain such a provision. Under the Act, persons (including trustees of pension schemes) are prevented from directly or indirectly discriminating, victimising or harassing someone because of their sex. The key cases of Barber v Guardian Royal Exchange and Coloroll Pension Trustees Limited v Russell established that pension schemes had to equalise pension benefits between men and women, with effect from 17 May 1990 (i.e. the date of Barber decision), and outlined how they should equalise them. Specifically, men and women were required from this date to build up benefits by reference to the same normal retirement age ("NRA"). Before this, women typically had an NRA of 60 and men an NRD of 65. This difference in NRA meant that, in broad terms, men were required to work for longer than women in order to build up an equivalent pension. Many pension schemes have a gap between the 17 May 1990 (when they were legally required to equalise benefits for both sexes) and the date that a legally valid equalisation of the pension benefits was actually effected. This is known as a 'Barber window'. The main reason many schemes have a 'Barber window' is because there was a lack of clarity for a number of years as to how pension schemes were required to validly equalise. Equalisation of Guaranteed Minimum Pensions ("GMPs") was not addressed in the Barber case and remains a difficult area. Much of the case law and legislation referred to in this note involves European directives and rulings by the European courts. The requirement to equalise pension benefits between the sexes it is not expected to materially change following the UK's withdrawal from the European Union. Discrimination: Marital and Civil Partnership status Key Points The Equality Act 2010 (the "Act") applies to both employers participating in occupational pension schemes and the trustees of such schemes. The Act also inserts an overriding non-discrimination rule into occupational pension schemes if they do not already contain such a provision. Under the Act, persons (including trustees of pension schemes) are prevented from directly or indirectly discriminating or victimising someone because the individual is married or a civil partner. Harassment protection does not apply in relation to marital or civil partnership status. Same-sex partners have a right to any dependents’ pensions provided by pension schemes once they enter into a civil partnership or marry. An exemption allows pension schemes to restrict this right to benefits that accrued from 5 December 2005 (i.e. when legislation permitting civil partnerships came into force). The exemption was the subject of a government review published in June 2014. The government is yet to make a final decision on any legislative changes to the exemption. You can find this episode and the accompanying transcript on our website: Gowling WLG is an international full-service law firm working across a range of industry sectors including real estate, government, financial services, life sciences and technology. We operate across the world with offices in the UK, Europe, Canada and the Middle East. We regularly talk about a broad range of topics that may be of interest to you. Subscribe to receive our latest articles, podcasts and webinars straight to your inbox: Alternatively, you can view our full selection of insights and resources here: Want to get to know us? Follow us on: LinkedIn: Twitter: Facebook: Instagram: This podcast may contain information of general interest about current legal issues, but does not give legal advice. /episode/index/show/gowlingwlgpensions/id/5405231

Pensions in 30: 23. Discrimination against part-time and fixed term workers 08/29/2017

Pensions in 30: 23. Discrimination against part-time and fixed term workers Part one - discrimination and part-time employees Key points A part-time worker must not be treated less favourably than a comparable full-time worker doing the same or largely the same job unless the less favourable treatment can be objectively justified. This extends to less favourable treatment in respect of the provision of pension benefits. A part-time worker can bring a claim for less favourable treatment under the Part-Time Workers (Prevention of Less Favourable Treatment) Regulations 2000. The other potential claim a part-time worker can bring in relation to pensions discrimination is a claim for indirect sex discrimination under the Equality Act 2010. Preston v Wolverhampton Healthcare NHS Trust clarified that men or women excluded from their employer's pension scheme on grounds of indirect sex discrimination are entitled to claim access to the pension scheme. ‘Off-sets’ (notional deductions equal to the basic state pension made from a worker’s salary to calculate contributions and pension benefits) may be indirectly discriminatory but are capable of objective justification. Part two - Discrimination and fixed-term employees Key Points Fixed-term employees must not be treated less favourably than a comparable permanent employee doing the same or largely the same job unless the less favourable treatment can be objectively justified. This extends to less favourable treatment in respect of the provision of pension benefits. A fixed-term employee can bring a claim for less favourable treatment under the Fixed-term employees (Prevention of Less Favourable Treatment) Regulations 2002. Employers may be able to defend a specific unfavourable practice by demonstrating that the fixed-term employee's overall benefits package is comparable to their permanent employee comparator. In order to rely on objective justification the employer would have to demonstrate that the less favourable treatment amounted to a legitimate aim and that the less favourable treatment was a proportionate method of achieving that legitimate aim. You can find this episode and the accompanying transcript on our website: Gowling WLG is an international full-service law firm working across a range of industry sectors including real estate, government, financial services, life sciences and technology. We operate across the world with offices in the UK, Europe, Canada and the Middle East. We regularly talk about a broad range of topics that may be of interest to you. Subscribe to receive our latest articles, podcasts and webinars straight to your inbox: Alternatively, you can view our full selection of insights and resources here: Want to get to know us? Follow us on: LinkedIn: Twitter: Facebook: Instagram: This podcast may contain information of general interest about current legal issues, but does not give legal advice. /episode/index/show/gowlingwlgpensions/id/5405088

Pensions in 30: 22. Age discrimination 08/24/2017

Pensions in 30: 21. Discrimination - an overview 08/22/2017

Pensions in 30: 20. Winding up occupational pension schemes 08/17/2017

The Month in Pensions - Gowling WLG

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