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.
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 →