Trustees

When a good employee goes bad… is their pension at risk?

Helen Powell

The Pensions Ombudsman has recently had to consider the case of a convicted fraudster, Mr A, who had embezzled around £500,000 from his former employer, but had been made redundant in a separate exercise before his fraud was discovered. Mr A had been made bankrupt on the employer’s petition, but this did not give the Read More

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When delays can be taxing … the 5 April deadline

Angela Stafford

No matter how good your scheme administration is, slip-ups can happen for a variety of reasons – human error, member misunderstanding, general administrative delays – but with the end of the tax year looming, the consequences of a mistake, particularly relating to DC contributions, can be much more significant.  The annual allowance rules are increasingly Read More

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Can’t pay? Have to pay – correcting underpaid lump sums

Helen Powell

It’s not uncommon for a pension scheme to discover that a mistake has led to a pension being put into payment at less than the correct amount. There are helpful regulations to deal with payment of pension arrears, and plenty of industry experience of dealing with this kind of problem. What trustees can’t easily do, Read More

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Protected lump sums: practical issues for trustees and administrators

Helen Powell

The pension freedoms have created particular risks and hurdles for members with protected lump sum rights. In some cases, members may not be able to take their rights in the form they would prefer, except with assistance from trustees or other members. Read More

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Class actions in the UK – a new regime?

Jason Shaw

There has been a lot of talk recently about the introduction of U.S.-style class actions into the UK. The discussion stems from the class action regime introduced by the Consumer Rights Act 2015 (the CRA). However, the CRA only applies to collective proceedings in the Competition Appeal Tribunal for breaches of competition law – it Read More

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