News - Wedlake Bell

Clive Weber, Partner, Pensions & Employee Benefits Team. Please contact Clive with any queries on this Ready Reckoner. PARLIAMENT FROM THE COURTS FORTHCOMING COURT DECISIONS THE ROAD AHEAD OTHER MATTERS

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Budget 2018: Brexit

LNB News 29/10/2018 102. The government has allocated an additional £500m of funding for its preparation for the UK’s exit from the EU. This funding aims to help departments manage … Read more →

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Pensions Ready Reckoner – September 2018

Pensions Ready Reckoner Clive Weber, Partner, Pensions & Employee Benefits Team. Please contact Clive with any queries on this Ready Reckoner. PARLIAMENT Recent Legislation Enacted Effect Data … Read more →

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British Airways: Court of Appeal defines the proper purpose of an occupational pension scheme and narrows the role of pension scheme trustees

British Airways (“BA“) has successfully appealed against the BA pension scheme Trustees’ award of pensions increases. The Court of Appeal reversed the High Court decision in favour of the Trustees … Read more →

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Pensions Ready Reckoner – June 2018

Clive Weber, Partner, Pensions & Employee Benefits Team. Please contact Clive with any queries on this Ready Reckoner. PARLIAMENT Legislation Enacted Effect Finance Act 2018 15 March 2018 … Read more →

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“What is the purpose of a pension scheme?” – Clive Weber comments for Professional Pensions

Partner in our Pensions & Employee Benefits team, Clive Weber, has had his comments published by Professional Pensions in relation to British Airways’ pension scheme dispute. On the issue, Clive … Read more →

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Pensions Ready Reckoner – March 2018

Pensions Ready Reckoner Clive Weber is a Partner in our Pensions & Employee Benefits Team. Please contact Clive with any queries on this Ready Reckoner. PARLIAMENT Topic Bills … Read more →

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Pension Ready Reckoner – January 2018

PARLIAMENT Topic Bills Data Protection Bill The Bill was introduced in Parliament on 13 September 2017 and is intended to give effect to the EU General Data … Read more →

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Legality of employer decisions

In this article Employment Partner Blair Adams and Pensions Partner Clive Weber jointly comment on the important Court of Appeal decision in IBM v Dalgleish on 3 August 2017 (IBM Decision)… Read more →

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Pensions Ready Reckoner – September 2017

Clive Weber, Partner, Pensions & Employee Benefits Team. Please contact Clive with any queries on this Ready Reckoner. PARLIAMENT Topic Key Acts of Parliament Finance Bill 2017 The following provisions … Read more →

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Section 75 debts: DWP consults on yet another possible relaxation

Help is at hand for employers which accidentally cease to have active members, or is it? Problem One can liken section 75 for employers in DB multi-employer schemes to a … Read more →

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Risk reduction a ‘key driver’ of increased gilts investments

Clive Weber, Partner in Pensions and Employee Benefits was quoted in Pensions Age, the leading pensions magazine. Risk reduction is a “key driver” of increased gilts investments by pensions funds,… Read more →

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Defined Benefit Pension Scheme Reform

The BHS Scheme saga rumbles on. Meanwhile, the Department for Work and Pensions has published a ‘Green Paper’ for consultation on reform of defined benefit pensions, entitled ‘Security and Sustainability … Read more →

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HMRC v Staveley, Upper Tribunal decision, January 2017

The Upper Tribunal has recently given its decision in an interesting case concerning inheritance tax (“IHT”) and pension schemes. The case turned on very specific facts, including importantly, that the … Read more →

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RPI/CPI: RPI, or new Chapter?

Relief for members and disappointment for employers: on 2 November 2016 the Court of Appeal upheld the High Court decision in Buckinghamshire v Barnardo’s, thus precluding the Barnardo’s scheme trustees … Read more →

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Rocket or damp squib? Government consults once again on GMP sex equality

Having consulted on draft Regulations in 2012, DWP has now issued a further Consultation proposing a new approach and method for GMP equalisation. This article considers whether the new proposals … Read more →

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Protecting a bankrupt’s pension: Horton v Henry, Court of Appeal 7/10/2016

Good news for debtors but disappointing for creditors: the Court of Appeal has decided, in its recent Horton v Henry decision, that a bankrupt individual’s pension rights cannot be exercised … Read more →

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Court of Appeal denies Barnardo’s permission to switch from RPI to CPI

The Court of Appeal has declared that trustees of the Barnardo’s pension scheme cannot switch its indexed linked payments from the Retail Price Index (RPI) to the Consumer Price Index … Read more →

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US Acquisitions in the UK – how to manage UK pension risks

US owners or would be owners of UK companies should take extra care in the case of a UK defined benefit pension scheme (“DB Scheme”), sometimes known as a ‘final … Read more →

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Parliamentary Select Committee enquiry into defined benefit pension schemes: Show-stopper or damp-squib?

Introduction Not content with its Report on the BHS Scheme (issued on the 20 July 2016) the Parliamentary Select Committee (the Committee) announced on 8 August 2016 a wide ranging … Read more →

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Brexit – Implications for pension schemes

Much of EU source UK pensions law is sensible and at most should need minor adjustment. Broadly speaking the following areas are in this category (but see below re GMPs … Read more →

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Secondary Annuity Market – pipedream or reality?

Stuck with an annuity or deferred annuity? Don’t worry, help is close at hand. From April 2017, you can sell your right to income for a capital amount! This is … Read more →

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Pensions Ready Reckoner – March 2016

A recap of latest developments in the ever-changing world of occupational pension schemes. PARLIAMENT Topic Legislation Budget – 16 March 2016 Key pension tax changes in the Chancellor’s … Read more →

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This miscellany of proposed changes from April 2016 is a can of worms…

“Miscellaneous” amendment regulations are often tidying up exercises and of no great consequence. However the DWP’s recent consultation on its proposed Miscellaneous Amendments Regulations 2016 are a different kettle of … Read more →

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The Pensions Ombudsman and the Courts – uneasy bedfellows?

Even though the first Pensions Ombudsman took office as long ago as 1990, the relationship between the Pensions Ombudsman and the Courts remains work in progress. History Essentially there has … Read more →