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Virgin Media: is action needed by pension trustees?

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

UK pensions dashboards: "Act now" says the Regulator

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

UK pensions lifetime allowance limbo: what you need to know

Legislation in a hurry... Pensions tax is never simple, and the legislation abolishing the lifetime allowance (LTA) on 6 April 2024 (“L-Day”) bears this out.  Regulations issued mid-March correct some, but by no means all, of...more

UK pensions: ambitions for defined benefit (DB) schemes

The government has ambitious plans for the future of defined benefit (DB) pension schemes, many of which, it is hoped, will help the UK economy through increased investment in productive finance.  In particular, the...more

UK pensions: defined contribution (DC) consolidation

The government is keen to see continued reduction in the number of DC trust-based occupational pension schemes, believing that a smaller number of large, well-run schemes will result in better outcomes for members while...more

UK recent developments in pensions seminar

On 28 November 2023, we held our recent developments in pensions seminar covering legal updates from the pensions industry from the recent months. Topics members of our team covered included: Autumn Statement 2023: what...more

The Virgin Media case: what does it mean for UK pension trustees and sponsoring employers?

Pension trustees and sponsoring employers may have seen commentary on the recent case of Virgin Media v NTL Pension Trustees Ltd and others, which concerned procedural requirements for historic amendments in relation to...more

UK Pensions newsletter - October 2022

Welcome to Hogan Lovells UK pension team's October 2022 newsletter.  The past fortnight has demonstrated how pension schemes can be significantly impacted by unexpected turmoil in financial markets.  ...more

Anti-money laundering and pension trustees: which trust must register with HMRC by 1 September 2022?

Pension scheme (and other) trustees must register certain trusts with HMRC by 1 September 2022, following the implementation in the UK of the Fifth Money Laundering Directive (5MLD). While the new requirements do not apply to...more

LIBOR changes: what pension trustees should know

Significant changes are taking place to certain inter-bank offered rates (IBORs) commonly used as interest rates in derivatives and other financial contracts. In the UK, LIBOR (the London inter-bank offered rate) is expected...more

Coronavirus: Actions For Pension Trustees

The COVID19 crisis has changed the landscape for pension scheme trustees. This note discusses the potential impacts and actions trustees should consider taking in relation to the following areas. ...more

New offences, penalties and powers for the Pensions Regulator: what employers and trustees should know

As expected, following the general election the new government has reintroduced the Pension Schemes Bill and is taking forward changes consulted on in 2018. The Bill will significantly increase the Pension Regulator's powers...more

Pension transfers and scams: what should trustees do?

Pension scammers are becoming ever more sophisticated in their methods of parting scheme members from their pension funds, learning how to stay (just) on the right side of the law and to avoid breaching requirements of...more

IORP II: What Does It Mean For Uk Pensions?

The new directive on occupational pension schemes (IORP II) must be implemented in national law by mid-January 2019. UK pension schemes are already subject to most of the requirements under existing UK legislation. However,...more

The General Data Protection Regulation (GDPR): action plan for pension scheme trustees - (revised March 2018)

The European General Data Protection Regulation (GDPR) will apply directly in the UK from 25 May 2018, and will make some fundamental changes to the current requirements surrounding data protection. Key areas of change...more

Pension Alert - February 2018

Featured is a reminder regading action needed on legacy protected rights rules and new briefings on New offences under the Criminal Finances Act 2017; Reducing your PPF levy; VAT and pension schemes; and an updated briefing...more

New offences under the Criminal Finances Act 2017: are corporate pension trustees at risk?

The Criminal Finances Act 2017 creates two new offences concerning tax evasion, potentially relevant to pension scheme corporate trustees (but not individual trustees). Corporate pension trustees should consider whether they...more

New anti-money laundering regulations: action for pension scheme trustees - Updated December 2017

Pension scheme trustees should be aware of requirements under new money laundering regulations to record information and, in some cases, to give the information to third parties and to register the information with HMRC. ...more

The Pension Regulator: online materials for trustees of occupational pension schemes

The Pensions Regulator (tPR) has issued a multitude of codes of practice, guidance notes and other documents to assist pension scheme trustees to understand and better perform their role. However, knowing what help is...more

New anti-money laundering regulations: action for pension scheme trustees

Pension scheme trustees should be aware of requirements under new money laundering regulations to record information and, in some cases, to give the information to third parties and to register the information with...more

The General Data Protection Regulation (GDPR): action plan for pension scheme trustees

The European General Data Protection Regulation (GDPR) will apply directly in the UK from 25 May 2018, and will make some fundamental changes to the current requirements surrounding data protection. Key areas of change...more

Personal data security for pension scheme trustees

Cybersecurity and protection of personal data are increasingly to the forefront of concerns for pension trustees. The European General Data Protection Regulation (GDPR), applicable in the UK from 2018, will impose additional...more

Charges and governance requirements for Defined Contribution pensions

This note sets out the areas in which restrictions on charges and governance requirements apply to trustees or managers of occupational money purchase schemes. These requirements have been introduced over the last two years...more

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