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

The Contracting-out (Transfer and Transfer Payment) (Amendment) Regulations 2017 – Sackers’ response to DWP consultation

Background The DWP is consulting on draft regulations to introduce changes to enable transfers, in limited circumstances, of pensioner members with GMP or section 9(2B) rights, with their consent, to schemes that have never been...

British Steel Pension Scheme – Sackers’ response to consultation

Background The Department for Work and Pensions (DWP) is consulting on four options aimed at helping the British Steel Pension Scheme (BSPS) as part of a wider package of Government support for British steel, steel workers and affected...

Pensions tax: bridging pensions

Background Legislation to be introduced in the Finance Bill 2016 is set to include consequential changes to ensure that, following the introduction of the new single tier State Pension from 6 April 2016, the tax rules on bridging pensions...

Developing a Retirement Quality Mark

Background The Board of the Pension Quality Mark (PQM) launched a consultation in November 2015 on its proposed new Mark, the Retirement Quality Mark (RQM). The existing PQM is focused on the accumulation phase of retirement saving, with...

Employers: Countdown to the abolition of DB contracting-out

Introduction As a consequence of the introduction of the new single-tier state pension, DB contracting-out will be abolished with effect from 6 April 2016. With only six months to go, below we set out the issues which sponsoring employers...

Trustees: Countdown to the abolition of DB contracting-out

Introduction As a consequence of the introduction of the new single-tier state pension, DB contracting-out will be abolished with effect from 6 April 2016. With only six months to go, below we set out the issues which the trustees of...

Section 67 essentials

Section 67 of the PA95 applies whenever a power to modify an occupational pension scheme is exercised to make a change (known as a “regulated modification”) which would or might adversely affect a member’s subsisting rights. ...