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Pensions & Employee Benefits
Pension matters have never been so challenging. Our Pensions & Employee Benefits team uses its detailed knowledge of pensions law to tackle issues around affordability, business survival, HR policy and retirement savings options.
Radical upheavals in the pensions industry – coupled with rapidly changing legislation and case law – present difficult choices for employers, trustees and scheme members.
That is why our legal advice is always constructive and pragmatic with a recognition that the decisions made today will have an impact on employers’ costs, scheme management and members’ lives for many years to come.
It has never been more important to offer our pensions clients dedicated expertise from a range of legal disciplines. We work in combination with the Finance team (on the establishment of security structures), the Insolvency & Restructuring team (on distressed employer restructurings and scheme entry to the Pension Protection Fund) and the Commercial Property and Intellectual Property teams (on alternative asset funding structures) as well as the Family team (on matrimonial pension issues).
When it comes to Employee Benefits, we advise a range of clients on how they can maximise their reward and retention policies in a tax efficient way – key to which is an understanding of our clients’ commercial objectives. We also have particular expertise in advising on the disguised remuneration framework and establishing Enterprise Management Incentive Plans.
- Advising a Scandinavian parent company on the Pension Regulator's powers and jurisdiction.
- Advising non-UK residents on the tax efficient transfer of their UK pension benefits to various jurisdictions.
- Advising a Channel Island trustee company on its international pension offering.
- Establishing Enterprise Management Incentive Plans for a number of SMEs.
- Advising a Guernsey based trustee company on the disguised remuneration regime and its historic EBT arrangements.
- Advising a Swedish parent company on its UK share incentive arrangements.
PART 2 – FURLOUGH – DO YOU UNDERSTAND THE IMPACT ON YOUR PENSION ARRANGEMENTS? IT’S NOT TOO LATE TO FIX ANY PROBLEMS!
There is no doubt that the world has changed dramatically in the last few months and many employers have had to react quickly to save their businesses. For many this… Read more →
Ready Reckoner – July 2020
PARLIAMENT Recent Legislation Date Effect Corporate Insolvency & Governance Act 2020 25/6/2020 Attempt to provide lifeline to struggling companies. Measures include suspending enforcement of certain debts, introduction to the UK… Read more →
Pensions Compass July 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… Read more →
Part 4 – Problems with Self-Invested Personal Pensions: SIPPing from a poisoned chalice?
A series of recent cases in the Upper Tribunal, the High Court and from the Financial Ombudsman Service have highlighted some potential concerns for members and providers of self-invested personal… Read more →
Part 3 – Employee Rights to Receiving Adequate Pensions Information Bolstered by the Pensions Ombudsman
An Employer was found liable for negligent misstatement and in failing in its duty of care by the Pensions Ombudsman (“TPO”) decisions in Mr H (PO-15168) and Mr N (PO-15171)… Read more →
Part 1 – Corporate Insolvency – emergency legislation – Pension deficits relegated ?
Introduction The Corporate Insolvency and Governance Act 2020 (the “Act”) became law on the 25th June 2020. The aim of the Act is to assist the survival of companies in… Read more →
Wedlake Bell Pensions & Employee Benefits Team Update – TPR’s Annual Funding Statement 2020
Wedlake Bell Pensions & Employee Benefits Team Update – TPR’s Annual Funding Statement 2020 On 30th April 2020 the Pensions Regulator (“TPR”) published the above Statement aimed at employers and… Read more →
Pensions Ready Reckoner April 2020
Clive Weber, Partner, Pensions & Employee Benefits Team. Please contact Clive with any queries on this Ready Reckoner. PARLIAMENT Proposed Legislation Date Effect Pension Schemes Bill 2020 Uncertain due to… Read more →
Part 5 – Key Points for Defined Contribution Schemes – Investment Powers and Duties
Given the precipitous decline in value of many defined contribution members’ pension pots, the trustees of defined contribution schemes (“DC Schemes“) are particularly at the sharp end. Trustees of defined… Read more →
Part 4 – COVID-19 – GETTING TO GRIPS WITH DB PENSION SCHEMES
The Covid 19 pandemic has impacted many aspects of lives. These unprecedented times continue to pose economic and operational challenges for pension schemes – trustees’ and sponsoring employers of defined… Read more →
Part 3: DC Schemes – Covid-19: Continuation of Employer and Employee Contributions
Many employers and employees alike are facing extreme financial difficulties in light of the COVID-19 pandemic. In the circumstances, it is understandable that employers might seek to make savings in… Read more →
Part 2 – How to Operate Well in the COVID-19 World
In the wake of the COVID-19 pandemic, trustees of pensions schemes will need to adapt to new pressures and restrictions on normal day-to-day operations. The Pensions Regulator (“TPR“) has published… Read more →
Part 1 – Quick Refresher on Legal Duties
In these exceptional times, how can trustees and employers best take legally watertight decisions? When life returns to normal, present decisions need to stand up to legal scrutiny if challenged.… Read more →
Pensions – What savings can you make and what can you reclaim in respect of furloughed employees?
Employers and employees alike are facing extreme financial difficulties. Whilst cutting pension provision is not necessarily a wise step long-term, making temporary changes to your pension provision can have a… Read more →
Coronavirus – How can our People Services team help your business with the challenges it is facing?
Employers are facing an unprecedented set of circumstances as Covid-19 sweeps the country. Whilst the primary objective is, and should be, to halt the spread of the virus and to… Read more →
Pensions Compass February 2020
Welcome to our first 2020 Edition of Pensions Compass! As usual we have a fun packed edition to help blow away the winter doldrums. Our first edition of Pensions… Read more →
A very responsive team that provides practical advice'
— Legal 500, 2020
'Justin McGilloway provides pragmatic, timely advice, is very proactive and nice to deal with'
— Legal 500, 2020
'Justin McGilloway, Clive Weber and new partner Alison Hills are all very sound and pleasant to work with'
— Legal 500, 2020
"The ‘very good’ team at Wedlake Bell LLP ‘always gives clients proactive information about legislative changes’, and provides ‘very practical advice’."
— Legal 500, 2017
"The team is led by the ‘very responsive’ Justin McGilloway, who has been advising the trustees of the Steamship Insurance Management Services Pension Scheme on various regulatory matters. McGilloway also acted for the trustees of the Telereal Pension Plan regarding scheme funding and closure to future accrual during a complex valuation process."
— Legal 500, 2017
"Clive Weber acted for the trustees of the Buhler Pension Scheme on the sale of the employer to another company."
— Legal 500, 2017