News & Analysis as of

Pensions

Hogan Lovells

UK Budget 2024: Pensions news

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Today's Budget brought some good news: Despite recent speculation, National Insurance contributions (NICs) will not be charged on employers’ pension contributions; and No changes were announced to members’ tax-free lump sums....more

Groom Law Group, Chartered

Proposed Settlement Agreement Reached in Actuarial Equivalence Lawsuit

Earlier this month, a group of retired employees of Citgo Petroleum Corporation filed a motion for settlement of their lawsuit claiming they were harmed by their pension plan’s use of unreasonable actuarial assumptions. The...more

A&O Shearman

Pensions: what's new this week - October 28, 2024

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Welcome to your weekly update from the A&O Shearman pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. TPR publishes pensions scam case studies - The Pensions...more

Blake, Cassels & Graydon LLP

Ontario Finalizes Regulations for Target Benefit Plan Framework

On October 16, 2024, the Ontario government filed various regulations under the Pension Benefits Act to implement a permanent target benefit pension plan (Target Benefit Plan) framework. Target Benefit Plans seek to...more

A&O Shearman

Pensions: Joint DB & DC trustee agenda update – November 2024

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Welcome to our monthly update on current legal issues for trustees of DB and hybrid pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on...more

A&O Shearman

Pensions: DC trustee agenda update - November 2024

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Welcome to our monthly update on current legal issues for trustees of DC pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on your next...more

Pullman & Comley - Labor, Employment and...

PBGC Updates Premium Rates for 2025

The Pension Benefit Guaranty Corporation (PBGC) insures most private sector (i.e., non-governmental) defined benefit pension plans. The Plan Administrator of each pension plan covered under ERISA is required to annually file...more

Carlton Fields

Sometimes, Pension De-Risking Makes Cents

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In a defined benefit plan, participants usually accrue a monthly benefit based on a formula that typically considers their last three years’ salary before retirement and years of service with their employer. For example, the...more

Fisher Phillips

Bankruptcy Court Upholds PBGC Rules, Says Massive Pension Fund Bailouts Can’t Reduce Employer’s Withdrawal Liability: Your 5 Key...

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A bankruptcy court in Delaware recently upheld rules issued by the Pension Benefit Guaranty Corporation (PBGC) that severely impact how liability is calculated for employers withdrawing from multiemployer pension plans...more

Fisher Phillips

Withdrawal Liability Calculations for Multiemployer Pension Plans: What Employers Must Know About Financial Exposure

Fisher Phillips on

“Withdrawal liability” blindsides many employers when they stop contributing to collectively bargained pension plans. Multiemployer plans have used different calculations for years that inflate the withdrawal liability they...more

A&O Shearman

Pensions: what's new this week - October 21, 2024

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Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. TPR targets continuous improvement on ESG matters - The...more

IR Global

Myths about self-assessment

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In a recent press release, HMRC addressed some common misconceptions about who needs to file a self-assessment return before the 31 January 2025 deadline and clarifies some of the most widespread myths....more

A&O Shearman

Pensions: what's new this week - October 14, 2024

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Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Abolition of Lifetime Allowance: Further regulations - ...more

Hogan Lovells

Own risk assessments (ORAs) for UK pensions: when do you need one?

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Trustees or managers of an occupational pension scheme with 100 or more members must carry out and document an ORA.  The Pensions Regulator (TPR) describes an ORA as an assessment of how well a scheme’s “effective system of...more

Hogan Lovells

Virgin Media: is action needed by pension trustees?

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Our clients have been asking us whether they should conduct a review of previous deeds of amendment in light of the Court of Appeal decision in the Virgin Media case. This article sets out our views....more

Hogan Lovells

Trivial commutation lump sums: calculation changes, again

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Regulations issued on 7 October 2024 will change (again) the requirements for calculating whether a member may be paid a trivial commutation lump sum (TCLS).  The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 3)...more

Hogan Lovells

UK pensions dashboards: "Act now" says the Regulator

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In a recent blog, the Pensions Regulator (TPR) has urged schemes to get on with steps to comply with their pension dashboard duties.  Its particular concern is that schemes may not be sufficiently prepared to connect with the...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Canada (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER CANADIAN LAW - 1. Canada's Political and Legal System - Canada has a federal system of government, subject to its Constitution, which was...more

Ius Laboris

Hong Kong launches e-platform for pension scheme

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The Mandatory Provident Fund Schemes Authority (‘MPFA’) has commenced a major overhaul of the Hong Kong pensions system with the launch of the eMPF Platform in June 2024....more

A&O Shearman

Pensions: what's new this week - October 7, 2024

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Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. TPR publishes regulatory intervention report: The Meghraj...more

Blake, Cassels & Graydon LLP

Garder le cap avec l’ACOR : Nouvelles lignes directrices sur les régimes de capitalisation et la gestion des risques

Le 9 septembre 2024, l’Association canadienne des organismes de contrôle des régimes de retraite (l’« ACOR ») a publié la ligne directrice no 3 – Ligne directrice pour les régimes de capitalisation (la « ligne directrice pour...more

Carlton Fields

Studebaker: From Coupe to Coup

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In the early days of the workforce, retirement was a foreign concept—people worked until they died. Life expectancy was significantly lower than it is today, making the idea of retirement nearly irrelevant....more

A&O Shearman

Pensions: what’s new this week - September 30, 2024

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Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. TPR publishes statement of strategy templates - New...more

Blake, Cassels & Graydon LLP

Keeping Up With CAPSA: New Guidelines for Capital Accumulation Plans and Risk Management Released

On September 9, 2024, the Canadian Association of Pension Supervisory Authorities (CAPSA) released Guideline No. 3 – Guideline for Capital Accumulation Plans (CAP Guideline), replacing the 2004 Guidelines For Capital...more

Latham & Watkins LLP

FCA Publishes Update on Cash Savings Work

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On 18 September 2024, the FCA provided an update on its work in the cash savings market. Following the FCA’s 2023 cash savings market review in light of concerns that higher interest rates were not being passed on effectively...more

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