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.
The PIP is the period used to assess annual increases in the value of members’ benefits for testing against the annual allowance (AA). Increases are measured against the AA for the tax year in which the PIP ends and, to the extent...
Section 67 of the PA95 applies whenever a power to modify an occupational pension scheme is exercised to make a change (known as a “regulated modification”) which would or might adversely affect a member’s subsisting rights. ...
What is a Statement of Investment Principles? A SIP is a written statement governing decisions about investments for the purposes of an occupational pension scheme. Who is responsible for the SIP? Trustees of most occupational schemes must...
On a transfer of a business, the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE) often applies. Its effect is to provide that obligations of the old employer are transferred to the new employer as though the...
In High Court proceedings, it is vital for trustees to have the comfort and protection of knowing that they may recover the legal costs incurred in the proceedings from the scheme, whether prosecuting or defending a claim and regardless of...
The Bribery Act 2010 came into force on 1 July 2011. It aims to update and simplify the UK’s anti-corruption laws. The Act creates 4 offences: offering, promising or giving a bribe (active bribery); requesting, agreeing to receive or...
A “buy-in” is simply an annuity held in the trustees’ name. By contrast a “buy-out” is an annuity held in the member’s name. Buy-ins are simply another scheme investment and are attractive to employers...
A buy-out is the bulk purchase of annuities in respect of some (partial) or all (full) of the members of a pension scheme. The difference between a buy-out and a buy-in is that, in the former, the annuities are purchased in the names of...
