The Allen & Overy team (well, Däna Burstow and me) were in Manchester this week for the annual National Association of Pension Funds jamboree. Very impressive it was too – the greatest number of delegates, the most exhibitors and probably the highest calibre of speakers we have ever had at the NAPF. I’ve listened to Lord Hutton, Stephanie Flanders (Economics Editor of the BBC), Alistair Darling, László Andor (European Commissioner for Employment) and both the minister and shadow minister for Pensions. And there’s still Sir Matthew Pinsent to come! (more…)
Archive for the ‘Current hot topics’ Category
NAPF Manchester: Postcard from the edge
Friday, 21 October 2011Scheme pays: act now to avoid complaints later?
Tuesday, 11 October 2011It sounded like a simple enough idea in principle: the new, lower, annual allowance for pension saving could lead to hefty tax charges for some members – substantially in excess of their actual income for the year – relating to increases in pension benefits which won’t translate into cash in hand for years or possibly decades to come. Some members might not be able to pay that tax bill, so the neat solution devised by the Treasury was to allow members to require their pension scheme to meet the annual allowance tax charge instead of paying it personally, with a corresponding deduction from pension – the facility known as ’scheme pays’. (more…)
Do you know who your “statutory” employers are?
Friday, 23 September 2011If you are filling out your scheme return from November 2011 you will need to answer the question “who is your statutory employer?”
Auto-enrolling workers into pension saving – but who are the workers?
Friday, 19 August 2011When is a worker not a worker? Or perhaps more importantly, when is a contractor an employee so far as auto-enrolment into pension saving is concerned? It’s a question UK employers are going to have to get to grips with over the next few months: under the new auto-enrolment regime, they will be required to enrol all their qualifying workers (known as ‘eligible jobholders’) into pension saving meeting minimum quality standards, and make contributions on their behalf – but who exactly must be enrolled? In the modern employment environment, with casual and zero-hours staff, temporary and agency workers and independent contractors all playing a part in the flexible workforce, which workers have the right to be enrolled into a pension scheme? (more…)
Is a corporate pension scheme trustee a commercial organisation for the purpose of the Bribery Act 2010?
Wednesday, 22 June 2011Last week Stephen looked at whether he could still take his pension trustee clients to Wimbledon as a result of the Bribery Act 2010 ( The Bribery Act 2010: can I still take my pension trustee clients to Wimbledon?!). However, there’s another aspect of the new Act that interests me and that’s the “section 7 offence” that catches commercial organisations who fail to prevent bribery by those associated with them. If a corporate pension scheme trustee is deemed to be a commercial organisation then it would also need to be concerned about the activities of those performing services for or on its behalf (such as investment managers, custodians, administrators etc). (more…)
