News

Find out what’s happening at Sackers. Our News section provides information about recent work, press comment and media coverage, and what our people are doing.

Latest News

Contingent Assets: Basics

Contingent assets are assets held outside a pension scheme which the scheme can claim when one or more specified “trigger” events occur (such as the insolvency of the sponsoring employer). They can be useful for trustees and employers...

Consultation: Basics

Under the PA04, employers with more than 50 employees have a statutory duty to consult “affected employees” before making “listed changes” (for example, increasing member contributions). The duty applies to changes made by an...

Consultation: Exclusions

Under the PA04, no consultation is required where: as a result of the consultation on a proposal for cessation of employer contributions there is a further proposal to reduce employer contributions; (occupational pension schemes) as a...

Clearance: Basics

Clearance is relevant for those considering corporate transactions or scheme-related events which are materially detrimental to a DB pension scheme and its members (known as “type A events”). Clearance is the term used to describe the...

CARE schemes

Career Average Revalued Earnings Schemes (known as CARE schemes) are a form of DB pension arrangement adopted by employers seeking greater costs control than may be achieved under a traditional final salary scheme. For an employer looking...

Cash balance schemes

A “cash balance” scheme is a form of DB pension arrangement where the defined benefit is a lump sum expressed as a formula linked to the member’s final pensionable salary. The lump sum will be available at retirement to provide...

Group Personal Pensions: Basics

A GPP is a group personal pension – a personal pension available to an employer’s staff through a group arrangement. A personal pension will be a DC arrangement. Members are still subject to the LTA and AA and may take 25% as a tax...