Follow this link to read the full press release
RETROSPECTIVE LEGISLATION FOR MONEY PURCHASE SCHEMES
3 August 2011 Professional Pensions reports that The Supreme Court has dismissed the Department for Work and Pensions appeal in the long running Bridge v Yates case. Judges dismissed the appeal by a majority of four to one. It upheld the Court of Appeal decision concerning the Imperial Home Decor scheme, and a previous decision in the KPMG case. Bridge Trustees chairman Giles Orton said: "The majority judgment, delivered by Lord Walker is admirable and goes further than the Court of Appeal in attempting to define money purchase benefits. Follow this link to read the full report CONSULTATION: THE OCCUPATIONAL PENSION SCHEMES (CONTRACTING-OUT AND MODIFICATION OF SCHEMES) (AMENDMENT) REGULATIONS 2012 24 August 2011 This consultation asks for views on two proposed changes to regulations that concern the contracting-out changes next year. These are: · to increase the amount of the compound interest used in the fixed rate revaluation of Guaranteed Minimum Pension for early leavers from 6 April 2012 to 4.75 per cent; and · to introduce a regulation to allow trustees of formerly contracted-out defined contribution occupational pension schemes to change their scheme rules to take into account the abolition of “protected rights” after 6 April 2012. The consultation also advises of a technical drafting correction to the Occupational Pension Schemes (Contracting-out) Amendment Regulations 2011 (SI 2011/ 1294), which comes into force on 1 October 2011. The correction provides clarification for actuaries certifying that contracted-out salary-related occupational pension schemes meet the contracting out conditions. The consultation is primarily aimed at pension scheme trustees, their advisers, employers who sponsor contracted-out occupational pension schemes and the general public. The Occupational Pension Schemes (Contracting-out and Modification of Schemes) (Amendment) Regulations 2012 – consultation document The Occupational Pension Schemes (Contracting-out and Modification of Schemes) (Amendment) Regulations 2012 – regulations Professional Pensions have written an interesting article where a consultant is saying that firms planning to freeze their defined benefit schemes should do so before 5 April next year due to the forthcoming change in guaranteed minimum pension rules within the aforementioned consultation. Follow this link to read the article
PENSION CONTRIBUTIONS AND MATERNITY LEAVE
24 August 2011
CIPP Policy News Journal
09/10/2012, Page 173 of 234
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