Quarterly Briefing


Contents

The June, 2008 Quarterly Briefing (PDF, 225 KB) highlights significant developments in pensions law, covering key areas such as pensions reform, regulatory developments, new legislation and cases.

Pensions Bill 2007/08

  • Amendments agreed

Employer Debt

  • The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2008

Internal Dispute Resolution Procedure

  • The Occupational Pension Schemes (Internal Dispute Resolution Procedures Consequential and Miscellaneous Amendments) Regulations 2008

Transfer Values

  • The Occupational Pension Schemes (Transfer Values) (Amendment) Regulations 2008

Financial Assistance Scheme

  • Changes

Winding-up

  • TPR, the PPF and the DWP announce a joint consultation on winding-up

Accounting Standards

  • International Accounting Standards Board publishes discussion paper on IAS19

Actuarial Profession

  • Revised GN29 – Amendments to actuarial appointment letters

Department for Work and Pensions

  • Proposed extension of TPR’s powers

HM Revenue & Customs

  • Anti-money laundering: further extension for Trust or Company Service Providers (TCSPs)
  • Finance Bill 2008
  • Notional earnings cap for 2008/09
  • Stamp duty: Removal of £5 stamp duty charges

Pension Protection Fund

  • PPF solution to equalising GMPs
  • PPF compensation cap
  • Valuation assumptions: changes announced

The Pensions Regulator

  • Conflicts of interest: consultation published
  • Clearance guidance published
  • Consultation on mortality assumptions
  • Consultation on updating the Myners Principles
  • Guidance published as part of continued focus on DC schemes

Cases

  • Alexander Forbes Trustee Services Ltd v Geoffrey Alan Clarke and others
  • Alitalia-Linee Aeree Italiane SPA v Filippo Rotunno and others
  • Legal challenge over VAT on investment management services