News

Find out what’s happening at Sackers. Our News section provides information about recent work, press comment and media coverage, and what our people are doing.

Latest News

Statutory money purchase illustrations (“SMPIs”) – impact on occupational pension schemes

From 6 April 2003, all schemes which provide “money purchase benefits” must supply members with an annual illustration of them. In this newsletter we consider the new requirements set out in the Occupational and Personal...

Proposed relaxation of provisions governing the reduction of transfer values

Under the Occupational Pension Schemes (Transfer Values) Regulations 1996, there are limited circumstances in which an individual’s cash equivalent transfer value can be reduced. There is also a prescribed time-frame for providing...

Bankrupt members – what happens to their pensions?

In May 2000 and April 2002, new legislation came into force dealing with the pension rights of a bankrupt member. Orders made before the statutory changes remain embroiled in a minefield of legal uncertainty. Against this background, we...

More convictions for trust busting

Further convictions at Oxford Crown Court this month highlight the huge sums being lost in trust busting scams. In this case a 20% commission was deducted from transfers resulting in a lost to the Inland Revenue of over £1m. Last year...