Financial Support Directions: issues for banks and lenders

Jason Shaw

With the high profile collapse of BHS and two subsequent Parliamentary inquiries, the role and powers of the Pensions Regulator have come under close scrutiny since the second half of 2016. This spring, the government is planning to issue a discussion paper on various issues related to defined benefit pension schemes; it is perhaps no Read More

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

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

Recovering overpayments – where to draw the line?

Jason Shaw

Recovering overpayments can be a real headache for trustees. Failing to take the right steps at the right time can have a real impact on the prospect of recovering any overpaid monies at all. In addition, the time and cost involved in recovering the monies can sometimes entirely dwarf the amount that could be recovered. Read More

Dutch works councils get stronger rights of approval on pensions changes

Frank Doornik

Dutch works councils will shortly gain a new right of approval in relation to the adoption, cancellation or amendment of arrangements relating to a pension agreement – a potentially significant new power to block changes to a pension scheme, regardless of how it is structured (for example, with a pension fund, an insurer or a Read More