Pay cuts and pensions: points to watch

Helen Powell

According to recent media reports, 18% of employers have implemented pay cuts this year in response to the effects of Covid-19, and 30% more may do so in future, if they feel it’s necessary. Employers approach this objective in different ways, from a straight percentage salary reduction to reduced working hours, or arrangements involving periods Read More

Post-lockdown redundancies: pay attention to pensions! Part 2

Jessica Kerslake

This is the second part of our look at the pensions pitfalls that can trip up employers and trustees when there are redundancies on the horizon. To read more about two major cost issues, see Part 1 – or read on for some practical points to help shape your preparation. Read More

Post-lockdown redundancies: pay attention to pensions! Part 1

Jessica Kerslake

With the Government’s furlough scheme coming to an end and an increased number of redundancies on the horizon, employers and trustees should ensure that they consider the potential pensions implications at the outset. Good preparation can help you avoid legal and practical pitfalls. This post looks at two key cost issues; Part 2 will cover Read More

Benefit changes and privileged revaluation: active or deferred?

Jason Shaw

Benefit change projects are complex, and the risk of complaints or challenges has to be managed at all stages. The Pensions Ombudsman has recently published an interesting decision about an unusual practice for the revaluation of accrued final salary benefits after a benefit change project. In this case, the scheme had been amended in 2017 Read More

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