You will no doubt recall that, back in February, the Pension Schemes Act 2021 (the “Act”) finally became law. The Act changes the pensions landscape quite drastically and one way it did this was to extend the Pensions Regulator (“tPR”)’s contribution notice (“CN”) regime. What changed in a nutshell? tPR could already issue a CN, if it was reasonable to do so, where there had been deliberate avoidance of a s75 debt or an act…

The Pension Schemes Act 2021 introduces a framework for a new type of pension scheme – collective money purchase schemes. Also known as collective defined contribution or CDC schemes, this type of pension scheme offers a middle path between traditional defined benefit (DB) and defined contribution (DC) schemes. Employer and member contributions are fixed, as in a DC scheme. However, investment and longevity risks are borne collectively by the members, rather than being borne exclusively…

DC consolidation has been on the Government’s agenda for some time. Now the DWP has published a call for evidence, suggesting that the push to consolidate will be ramped up. Consolidation involves winding up small DC arrangements and moving active members and accrued DC pots to larger schemes. Typically the chosen destination will be a master trust – a multi-employer occupational pension scheme which operates on a commercial basis. Master trusts are subject to…

In episode 208 of our Employment podcast, Christopher Fisher is looking at two recent discrimination cases dealing with two important issues – will interim relief remedies be introduced for discrimination claims and will gender-critical beliefs be protected as philosophical beliefs.  One case is from the EAT and one from the Court of Appeal.  You can listen to it here: UK Employment Law | Perspectives & Events | Mayer Brown…

HMRC has published information on the use of unfunded pension arrangements which are set up in an attempt to avoid corporation tax, income tax and National Insurance (“NI”) contributions. If you think you have put in place such an unfunded pension arrangement, or are considering setting up an unfunded pension arrangement in the future, you may find the information helpful in understanding the tax treatment that will be applied to that arrangement.…

The Pensions Regulator has published its annual funding statement for occupational defined benefit (“DB“) pension schemes.   The statement is relevant for trustees and employers making decisions on scheme funding. It provides wider guidance on covenant monitoring due to the impact of COVID-19 and climate change risks. It highlights the need for employers to provide detailed financial projections to assist trustees in understanding the impact of COVID-19 and in managing future unexpected events. Purpose Aimed at…

Please see our article just published in the Employment Law Journal, regarding the issue of ‘fire and rehire’ and the recent Khatun tribunal case: Fire/Rehire  …