International Pension issues
Our Pensions & Employee Benefits team is helping an increasing number of international clients understand their UK pension responsibilities as a non-UK parent company.
Acquisitions of UK companies by non-UK companies continue to grow and pensions often play a large part in the due diligence process for many of these acquisitions – especially where the target company sponsors a UK defined benefit ‘final salary’ pension scheme.
As recent litigation shows, the UK Pensions Regulator considers its powers extend to non-UK holding companies. Our insight into this intricate area of law is crucial in helping non-UK entities evaluate their risks.
We have acted in cases involving non-UK parent companies in various jurisdictions including Norway, Sweden, USA, Switzerland and France – with considerable experience in situations where UK pension scheme deficits result in UK trustees seeking guarantees and/or security from non-UK holding companies.
If you are a non-UK resident individual, our Pensions & Employee Benefits team can help advise you on the tax efficient transfer of UK pension benefits to non-UK jurisdictions.
We also help offshore providers in establishing QROPS and QNUPS, ensuring compliance with UK tax requirements.
- 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.
- Advising UK scheme in light of the restructuring or international corporate group.
- Advising on pension provisions of double taxation agreements.
Part 1 – Transfer Regulations – do they provide enough protection?
We are seeing a significant increase in the number of member complaints against trustees relating to pension scams. There is no doubt that these scams can be devastating to members… 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 →
British Airways’ Pensions
British Airways’ pension arrangements are in the news yet again. After much-publicised High Court proceedings over indexation of pension increases under the Airways Pension Scheme (essentially relating to the trustee’s… Read more →