Alerts

Focusing on breaking news

• The Pensions White Paper

  After a number of leaks in the press and alleged horse-trading behind the scenes, the Pensions White Paper was finally published today. The White Paper gives us the Government's thinking on the future of UK state pensions. We can now see for ourselves what it really says, rather than just relying on what has been reported in the press.

  Read more

• Cracking the MNT code!

  The Pensions Act 2004 will require that at least one-third of the total number of trustees of occupational pension schemes are member-nominated trustees or directors (MNTs). The current proposal is that this moves up to 50% in 2009. The Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 2006 were laid on 16 March 2006. Much more recently, the Regulator's code of practice was published in final draft. This document is important because it sets out guidance on how trustees should approach the nomination and selection process.

  Read more

• A-Day arrives!

  After a long journey tax simplification has finally arrived at its ultimate destination, A-Day (6 April 2006). Many occupational pension schemes will already have made changes to enable them to disembark and embrace the more flexible pensions tax world. But for other schemes, A-Day either marks the junction between two tax regimes or the beginning of a transitional period during which trustees and employers will decide which tax simplification track to take. Here we take a brief look at the options and at some of the further changes timetabled for the next few months.

  Read more

• TKU - coming to a scheme near you

  The Trustee Knowledge and Understanding (TKU) requirements under the Pensions Act 2004 are set to come into force on 6 April 2006. All occupational pension scheme trustees must have sufficient TKU of pensions and trusts law to run their schemes properly. Trustees must also be conversant with scheme documents. The Occupational Pension Schemes (Trustees` Knowledge and Understanding) Regulations 2006 were finally laid on 16 March 2006. The Regulator laid the code of practice on 23 March 2006.

  Read more

• Cross-border - road to nowhere?

  The cross-border road has been a series of twists and turns, with a final hairpin bend. The final date for applications is tomorrow - 29 March 2006. But the Regulator has published some further guidance on applications this afternoon. To facilitate the changes, the Department for Work and Pensions (DWP) laid The Occupational Pension Schemes (Cross-border Activities) (Amendment) Regulations 2006 before Parliament yesterday. The Regulations come into force today.

  Read more

• New rights for early leavers

  From 6 April 2006, members who leave their occupational pension scheme "early" (but with at least 3 months' service) will gain new rights. Following consultation documents published in July 2005, the regulations which encapsulate these new rights were laid before Parliament in January. But the accompanying code of practice from the Regulator has only recently followed suit.

  Read more