News
Alison Hills has recently written an article on the recent landmark ruling in which the High Court rectified pension increase provisions, published in STEP Journal Plus. To read it, access… Read more →
News
Any employer who employs eligible jobholders, even just one, has duties under the automatic enrolment legislation (AE Obligations). These can be split into two elements: the initial AE Obligations at… Read more →
News
We are seeing a significant increase in the number of member complaints against trustees relating to pension scams. There is no doubt that these scams can be devastating to members… Read more →
News
Partner Alison Hills discusses the impact the Morrisons takeover deal will have on its pension schemes. This article was originally published on In Pensions Age. To read the article please… Read more →
News
We have the benefit of seeing a vast array of benefit structures in our role as advisers to trustees of final salary pension schemes. One of the areas in which… Read more →
News
You may recall the article published by my colleagues Clive and Paul in Pensions Age in April 2020: Guest comment: Norton Motorcycles – Pensioners taken for a complete ride –… Read more →
News
The level of pension increases and the freedom to change the rate used has been the topic of ongoing discussion since the government introduced the use of CPI for revaluing… Read more →
News
The FCA announced in January this year that the average UK pension fund stands at £61,897. On one side of that scale there are those with no pension savings (a… Read more →
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News
To all our many readers – Happy Christmas and a very Healthy New Year. Despite the challenges of COVID, pensions law has continued non-stop and we are here to help you… Read more →
News
To avoid Santa’s naughty list this year, scheme trustees should ensure they have a suitable data subject access request (“DSAR”) policy which reflects the updated guidance on DSARs published by… Read more →
Podcast Video
News
Welcome to our Autumn 2020 Edition of Pensions Compass. We hope readers have enjoyed some relaxation over the Summer. 1. PODCASTS – In the Autumn we usually hold our Oktoberfest pensions event including… Read more →
News
We often receive initial approaches by companies or trustees who are involved with final salary pension schemes who are concerned that there is a disconnect between two or three of… Read more →
Uncategorized
There is no doubt that the world has changed dramatically in the last few months and many employers have had to react quickly to save their businesses. For many this… Read more →
News
Welcome to our July 2020 Edition of Pensions Compass. The legal consequences of Covid-19 are inevitably still to the forefront. The following articles consider the impact in different areas as well… Read more →
News
On 29 May 2020 the Chancellor announced that the Government’s Coronavirus Job Retention Scheme (the “Furlough Scheme”) would be changing to begin easing employees out of the Furlough Scheme. From… Read more →
News
Wedlake Bell Pensions & Employee Benefits Team Update – TPR’s Annual Funding Statement 2020 On 30th April 2020 the Pensions Regulator (“TPR”) published the above Statement aimed at employers and… Read more →
News
Many employers and employees alike are facing extreme financial difficulties in light of the COVID-19 pandemic. In the circumstances, it is understandable that employers might seek to make savings in… Read more →
News
Employers and employees alike are facing extreme financial difficulties. Whilst cutting pension provision is not necessarily a wise step long-term, making temporary changes to your pension provision can have a… Read more →
News
Employers are facing an unprecedented set of circumstances as Covid-19 sweeps the country. Whilst the primary objective is, and should be, to halt the spread of the virus and to… Read more →
Uncategorized
Welcome to our first 2020 Edition of Pensions Compass! As usual we have a fun packed edition to help blow away the winter doldrums. Our first edition of Pensions… Read more →
Bulletins
Contingent assets can be of fantastic benefit to trustees and employers involved with defined benefit occupational pension schemes, particularly when cash is tight and employers wish to avoid the risk… Read more →
News
Welcome to our December 2019 edition of Pensions Compass. As we approach a very special event (I’m referring to Christmas rather than the general election or Brexit), we take a… Read more →
News
Auto-enrolment may have been introduced over 7 years ago, but as auto-enrolment specialists we are still dealing with auto-enrolment issues on a daily basis in our team. Our experience includes… Read more →
Bulletins
As we (potentially) approach B-Day there is a lot going on in the world, much of it gloomy, with discussions about entering a recession, concerns regarding the potential of a… Read more →
Bulletins
Welcome to our May 2019 edition of Pensions Compass. We are pleased to welcome Anna Giles to the team for a period of 6 months as part of her training… Read more →
News
This is a critical question which is all too frequently overlooked. The natural tendency, when faced with a member query, is for a trustee, employer or administrator to simply reach… Read more →
Bulletins
Welcome to our May 2019 edition of Pensions Compass. We are pleased to welcome Anna Giles to the team for a period of 6 months as part of her training… Read more →
Alison provides a run through of the changes to the law governing minimum benefits for same-sex spouses and registered civil partners over the years including the changes brought in by… Read more →
Bulletins
We’re now at the end of the first quarter of 2019, and for many, at the end of the financial year. Brexit continues to rule the headlines and be a… Read more →
News
The Lifetime Allowance was introduced on 6 April 2016 and since then it has applied to the total of all the tax-free pension savings an individual has, including the value… Read more →
Bulletins
Auto-enrolment has been hugely successful at encouraging increased numbers of people to save towards their retirement. Part of the transitional arrangements which were integral to auto-enrolment were the stepped contribution… Read more →
Bulletins
We are now almost a month into 2019 and it has certainly been an eventful start to the year! Brexit continues to rule the headlines, and whilst Brexit will have… Read more →
Brexit
Are you ready? Brexit is going to impact on our laws. It is too early to know what the repercussions will be but it is certain that there will be… Read more →
News
Making changes to pension increases continues to be a popular option with sponsoring employers which, if effected in the proper manner, can provide significant cost savings. Indeed, many schemes continue… Read more →
News
Auto-enrolment has been hugely successful at encouraging increased numbers of people to save towards their retirement. Part of the transitional arrangements which were integral to auto-enrolment were the stepped contribution… Read more →
News
On 1 October 2018 legislation which regulates UK master trusts is due to come into force. From 1 October, in order to continue operating, a master trust will either: need… Read more →
Bulletins
A lot has happened since our last edition of Pensions Compass in July, including the hottest summer ever recorded in England! The pensions and employee benefits industry remains just as… Read more →
Bulletins
It’s been a scorching start to the summer, and we hope you’re all managing to make the most of the unprecedented weather! In the background the pensions industry has… Read more →
Bulletins
It has been estimated that in the region of £1bn of pension savings has been lost to scams (and $42m of this has gone missing since the pension freedom and… Read more →
News
International private wealth publication, eprivateclient, has reported on the promotion of Jonathan Achampong and Alison Hills to Partner. The promotions, which took effect on 1 April 2018, bring our total… Read more →
News
Wedlake Bell, is pleased to announce that Alison Hills (Pensions & Employee Benefits) and Jonathan Achampong (Residential Property) have been made up to Partners, effective from 1 April 2018, in… Read more →
Bulletins
In my last Pensions Compass article (17 January 2018) I wrote about the pensions issues surrounding a hostile bid made by Melrose, a turnaround company, in respect of the proposed… Read more →
Bulletins
Final salary funding deficits are all around us and they cause headaches for a number of people, not least: pension scheme members who worry about the security of their retirement… Read more →
Bulletins
British Airways’ pension arrangements are in the news yet again. After much-publicised High Court proceedings over indexation of pension increases under the Airways Pension Scheme (essentially relating to the trustee’s… Read more →
Bulletins
As the legal adviser to many trustee boards and many employer bodies alike we see it as part of our job to help keep our clients away from complaints and… Read more →
Bulletins
According to a survey by Employee Benefits and Staffcare, 84% of employer respondents allow staff to contribute to their DC pension through a salary sacrifice arrangement. This represents an increase… Read more →
Bulletins
The High Court recently ruled on an application from British Airways challenging the actions of the pension scheme’s trustees regarding the payment of pension increases. Historically any attempt by the… Read more →
Bulletins
The Pensions Regulator (“TPR”) has recently published a report in relation to the failure of Johnsons Shoes Company (“Johnsons”) to comply with its automatic enrolment obligations as an employer. Johnsons’… Read more →
Bulletins
According to data provided in a Freedom of Information request to Salisbury House Wealth by the Pensions Regulator, 80,000 workers transferred out of their employer’s defined benefit (also known as… Read more →
Bulletins
The index used for the purposes of determining revaluation of deferred benefits and increases to pensions in payment is a topic which many trustee boards and employers alike are watching… Read more →
Bulletins
This case was brought by six high court judges but affected 210 judges at various levels within the judiciary. The claim was made against the Lord Chancellor and Secretary of… Read more →
Bulletins
The Prime Minister commissioned the Independent Review of Employment Practices in the Modern Economy on 1 October 2016. This followed the investigation into the working practices at Sports Direct which… Read more →
Bulletins
Relaxing legislation: will the government take a steely approach? On 26 May 2016 the Department for Work & Pensions issued a Public Consultation on the British Steel Pension Scheme (the… Read more →
Bulletins
In August 2016 the Regulator issued three £2,000 fines against an independent trustee company following their failure to produce a signed chair’s statement before the statutory deadline. Since 6 April… Read more →
Bulletins
Will the Pensions Bill offer any help to hard pressed schemes burdened by funding deficits? – wonders Alison Hills. This article was first published in Pensions World on 1 September… Read more →
Bulletins
On 26 May the Department of Work and Pensions issued a public consultation on the British Steel Pension Scheme (the “BSPS”). Why has this come about? It is all connected… Read more →
Bulletins
Last month saw the end of contracting-out, a creature which was introduced in 1978 to enable employers to integrate their scheme benefits with those offered by the State. It is… Read more →
Bulletins
A lot has happened in the world of pensions since you received our March 2016 bulletin – the most exciting development being of-course, my appointment as editor-in-chief! Another (no less!)… Read more →
Bulletins
Trustees have until midnight on 31 March 2016 to re-certify existing contingent assets and certify new contingent assets, but given the changes to this year’s guidance, can trustees be certain… Read more →
Bulletins
The Pension Protection Fund’s “levy determination” for the 2016-17 levy year has now been published. A key feature is the PPF’s recognition of the importance of stability as regards amounts… Read more →