Pensions Compass July 2020

01 / 07 / 2020

Welcome to our July 2020 Edition of Pensions Compass.

The legal consequences of Covid-19 are inevitably still to the forefront. The following articles consider the impact in different areas as well as highlighting other important developments in the pensions legal world:

Contents

  • Part 1 –Corporate Insolvency and Governance Act 2020 – hot of the Press, as Royal Assent was on 25 June 2020. The Government has rushed through the Act aimed at keeping companies in difficulties afloat. DB scheme pension deficits are swept down river as the article explains.
  • Part 2 – Alison’s commentary on the continuing pension implications of the furlough scheme and its gradual ending.
  • Part 3 – Employer communications – Paul’s commentary on recent Pensions Ombudsman decisions on misleading employer communications. The moral is clear – ensure member communications are reviewed from the legal perspective, especially communications re Covid -19 and the gradual phasing out of furlough.
  • Part 4 – SIPPS are in the news – Adam comments on the recent Tribunal decision on tax deduction for pension contributions, and on contrasting decisions of the High Court and the Financial Ombudsman Service involving SIPPS invested in “containers”.
  • Part 5 – Justin’s salutary reminder of the legal principles relating  to distributing  death benefits and  potential complexities
  • Part 6 – Our Pensions Ready Reckoner featuring key legal developments, a bumper crop in this Edition !