Pensions news

• DC Schemes: Hidden Liabilities

  When doing due diligence on a transaction, lawyers tend to breathe a sigh of relief when they discover the target only has a DC pension scheme. This is because, in theory, in a DC scheme the employer should not be exposed to any major risks, right? Maybe…

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• DC Quarter: Changing DC investment choices

  In a DC scheme there will generally be a range of investment funds for the member to choose from, including a default fund. Trustees must formally and regularly review the range and appropriateness of investment funds available. However, when it comes to making changes to investment options, things are not always straight forward.

  This News looks at why trustees may wish to change the investment options on offer, the legal considerations, some key practical issues and recent developments. 

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• Pensions without the default retirement age - time to make a change?

  With the default retirement age (DRA) gone, where does this leave occupational pension schemes? The Government might believe the change has “no impact” on schemes but, in practice, the DRA’s removal is already being felt.

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• Is your scheme family friendly?

  With the Coalition poised to put forward further extensive changes to family friendly rights, now is the time for pension schemes to ensure that they are up to date with the changes so far.

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• PPF entry: a smooth landing

  The PPF provides compensation for pension scheme members if their employer goes out of business and the pension scheme cannot provide benefits in excess of PPF compensation levels. But it is not always easy to foresee PPF entry or to achieve a smooth landing into the PPF as there are complex legal rules.

  In this news we look at the eligibility conditions and some of the practicalities associated with entering a PPF assessment period.

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• Who's Who? Identifying your statutory employer

  In July 2011, TPR issued a statement: Identifying your Statutory Employer. It reminds trustees that they should “identify and assess the legal obligations of each of the scheme’s employers, as well as the nature and extent of these obligations”.

  This issue came to TPR’s attention after it emerged that the George and Harding pension scheme had been refused entry to the PPF as it no longer had a statutory employer.

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