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Introduction In November 2011, Steve Webb, the Pensions Minister, confirmed his intention to “crack down” on bad practice in relation to incentive exercises (“IEs”). To achieve this, he tasked an industry working...
Introduction Following concerns raised by the pensions industry, HMRC has issuedguidance clarifying its position on fixed protection and continued life cover. In this Alert: Key points Background Restrictions on fixed protection Why is...
Introduction A threat to fixed protection has emerged from an unexpected source – continued life cover in respect of an individual’s dependants. In this Alert: Key points Background Restrictions on fixed protection Why is...
Introduction With effect from 6 April 2012, contracting-out on a DC basis (protected rights) will be abolished.1 On 29 February 2012, the DWP published its response to consultation, together with regulations aimed at assisting trustees in...
Introduction DC contracting-out will be abolished on 6 April 2012. Employers and trustees should use the run-up to that date to check that they are prepared for its demise. In this Alert: Key points Background What will happen to protected...
Introduction The Government has published its response to consultation on the switch from RPI to CPI for increases to pensions in payment and revaluation in deferment. Its December 2010 consultation followed announcements last summer...
Background Due in part to increasing longevity and the fact that people are working for longer, the Government intends to remove the effective requirement to purchase an annuity by the age of 75 from April 2011. The consultation was...
