Defined benefit arrangements

When less is not necessarily more

Caroline Overton

The perennial question of how much information should be given to members pops up to vex employers and trustees from time to time. Generally, it is possible for trustees and employers to steer a careful course between complying with statutory disclosure obligations and avoiding the pitfalls of providing tax or financial advice. This month, however, Read More

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Compensation for distress and inconvenience – where are we now?

Amy Priestley

Pension schemes are complex and even the best-run schemes have to deal with complaints. When advising on complaints being considered under a scheme’s internal dispute resolution procedure (IDRP), I’m often asked ‘should we offer compensation?’ and, if so, ‘how much?’. Read More

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Hope for scam victims; concern for pension schemes?

Helen Powell

A new pension liberation case has hit the headlines, after the Pensions Ombudsman (TPO) found that the authority managing the Police Pension Scheme could not rely on a statutory discharge following a transfer, because it had failed to perform adequate scam checks on the proposed receiving scheme and failed to give the member the Regulator’s Read More

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GMPs – to equalise or not to equalise: that is the question…

Harpreet Boora

Now that the High Court hearing is over, what was it about and what can pension scheme trustees be doing in preparation if the High Court rules that some of the Lloyds Banking Group defined benefit pension schemes need to equalise overall scheme benefits for the effects of unequal GMPs? Read More

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Windrush, GDPR and pension schemes: what should you do about historic data?

Helen Powell

Pension schemes have a long lifecycle. They need personal data to put pensions into payment decades after a member first joined the scheme and may need to deal with claims about calculation errors decades after that. Schemes with a complex history of mergers and bulk transfers-in may have significant quantities of legacy data. Any scheme Read More

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