As is well known, employers have been able to retire employees at 65. The ability to do this is now removed for most employees under employment legislation (from 6 April 2011 or 1 October 2011 if the employee had already been given notice of imminent retirement). So many of our clients are starting to face up to the challenges which they will face from a potentially aging workforce. Pensions are obviously a key issue.
Archive for April, 2011
Losing the default retirement age – stuck with a normal pension age?
Thursday, 14 April 2011Pension contribution notices – What did we learn from Bonas?
Tuesday, 5 April 2011When my clients enter into transactions or corporate restructurings involving defined benefit schemes the moral hazard powers of the Pensions Regulator are often a worry. They want to know whether the Regulator could use its powers to issue a contribution notice or financial support direction on parties involved in the transaction and what would happen if it did. Contribution notices force an immediate cash payment into a scheme but financial support directions are more about long term support for a scheme where the actual sponsor can’t support the scheme by itself.
