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.
Introduction On 20 February 2020, HMRC released long-awaited guidance (“the Guidance”) on some of the pensions tax issues arising when equalising benefits for the effect of GMPs. The Guidance focuses specifically on the so-called...
Introduction Following the publication of a “Call to Action” back in July, the cross industry GMP Equalisation Working Group (“the Group”) has published guidance (“the Guidance”) outlining methods that schemes could use to...
Introduction Just in time for Easter, the Government has published its long awaited guidance on using the GMP conversion legislation to help crack the GMP equalisation conundrum. The culmination of work carried out by the DWP’s industry...
Occupational pension schemes may convert GMPs into ordinary scheme benefits, provided five stringent conditions are met. Condition 1: Post-conversion benefits must be “actuarially at least equivalent to the pre-conversion...
Introduction The High Court handed down its highly anticipated decision in Lloyds Banking Group Pensions Trustees Ltd v Lloyds Bank plc and others on 26 October 2018, concluding that benefits do need to be equalised for the effect of GMPs....
