P&E Update: Pensions Bulletin (05 Mar 2015)

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The Watch List

6th April, 2015 Changes

  • Pension Schemes Bill receives Royal Assent: Countdown begins
  • signposting to Pension Wise: Guidelines for pension providers and schemes
  • second line of defence: Update
  • DC charges and governance (1): Final rules for independent governance committees
  • DC charges and governance (2): DWP guidance on charge cap
  • Pension Schemes Newsletter 67: PAYE on "flexible benefits"

New Law

  • banking reform: Pensions Regulations
  • changes to the Investment Regulations following Law Commission Report "Fiduciary duties of investment intermediaries"

Tax

  • inheritability of joint life and guaranteed annuities: Finance Bill 2015 clauses

Cases

  • IBM v Dalgleish: Remedies’ judgment
  • liability of employers for Section 75 debt: High Court decision in relation to the Merchant Navy Ratings Pension Fund
  • obligation to take personal pension benefits before NPA for the purposes of calculating means-tested benefits: BRG v Secretary of State
  • forced retirement at age 70: Whether age discrimination: Sharma v Lee
  • two year time limit for paying death benefits: Ombudsman’s determination in relation to Mrs Bashfor

Points in Practice

  • PPF Levy 2015/16: Answers to FAQs