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 many implications from the legal context (not just in relation to pensions – our immigration law specialist Julia Jackson is particularly busy!), there are other things going on… honestly!
You will be relieved to hear that our first edition of Pensions Compass for 2019 is relatively Brexit-free, it covers:
- Clive’s Ready Reckoner – a helpful summary of the latest developments from the courts, government and Pensions Regulator;
- GMP Equalisation – what do Trustees need to know? – a podcast from Justin and myself tackles the key GMP equalisation issues Trustees need to be aware of following the Lloyds judgment since it has been confirmed an appeal will not be lodged. The DWP has announced it will shortly be issuing guidance and input from HMRC with regards to certain issues (particularly ensuring payments remain authorised) is keenly awaited – you can listen to our podcast by clicking here;
- Katie updates us on how EU legislation has benefited certain pensioners receiving compensation from the PPF following the ruling in Grenville Hampshire v the Board of the Pension Protection Fund;
- A reminder that minimum statutory contribution rates under auto-enrolment are due to increase in April this year – what do employers need to be thinking about in preparation?
- An update on Pension Increases following the High Court judgment in Coats UK Pension Scheme Trustees v Styles; and
- Clive talks us through some of the IHT implications where death benefits are paid to the estate of a deceased member. There are some important points to consider for those setting up a scheme which provides lump sum death benefits.
We hope you enjoy this edition of the Pensions Compass.
If you have any questions regarding any of these topics please do get in touch.
Please click here for a PDF version of this month’s update.
For further details on these matters or any other pensions related queries, please contact a member of the Pensions and Employee Benefits team.
Alison Hills, Partner and Editor-in-Chief