All Hogan Lovells articles – Page 2
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FeaturesNuffield Health scheme boosts security with ABF
Not-for-profit healthcare provider Nuffield Health has entered into an asset-backed funding arrangement for its £377.1m defined benefit pension fund, as schemes continue to secure benefits with tangible goods.
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OpinionPension advice allowance – action needed?
From the blog: April 6 saw the introduction of the pension advice allowance: a new type of tax-authorised payment to allow members of defined contribution (or hybrid) schemes to take up to £500 from their pension pot to pay for financial advice.
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NewsNortel inches closer to PPF-plus as £5bn lockbox opened
The Nortel Networks UK Pension Plan is set to receive more than £1bn in assets from its insolvent sponsor Nortel in the coming months, after US and Canadian courts agreed to open a $7bn (£5.4bn) escrow ‘lockbox’.
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NewsNortel scheme could avoid PPF after creditor agreement
The trustees of the Nortel UK pension scheme edged closer to repairing its deficit last week as they reached a consensus with other stakeholders and creditors on how to divide their insolvent sponsor’s residual assets.
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Opinion
What you need to know before seeking a buyout or buy-in
Trustees looking to carry out derisking exercises should decide early on whether to seek a buy-in, where a bulk annuity policy is held as a scheme asset, or buyout, where annuities are bought for individual members.
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FeaturesHP scheme reboots parent company guarantee
The Hewlett-Packard Limited Retirement Benefits Plan has replaced its parent company guarantee following a major corporate reorganisation, resulting in improved terms for members.
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OpinionBuchanan: How to tackle zombie DB schemes
The Work and Pensions Committee enquiry into the BHS Pension Scheme, coupled with the fate of Tata Steel, once again shines the spotlight on defined benefit pension schemes for all the wrong reasons.
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FeaturesHalcrow plots rescue of DB scheme
Engineering company Halcrow’s pension scheme is expected to agree a liability-management exercise in coming weeks after the High Court ruled a previous proposal was illegal.
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OpinionOffsetting costs from the end of contracting-out
The abolition of contracting-out will lead to additional national insurance bills of an estimated £1.2bn this year for private sector employers and £2.7bn for employers in the public sector according to news reports, so how should they deal with the change?
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NewsLifetime Isa blurs lines between long and short-term saving
Budget 2016: The dreaded tax change on pension saving has been narrowly avoided in the chancellor’s Budget 2016, but the announcement of a Lifetime Isa could be a step towards a pensions Isa, industry comments suggest.
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OpinionBuchanan: Government should close legal gaps to stop scammers
When I started out in pensions in the early 1990s, there were clear demarcation lines between ‘occupational pension schemes’, established on a paternalistic, non-profit basis by employers, and ‘personal pension plans’ operated by authorised providers for commercial gain.
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NewsRoyal London publishes first IGC report but independence questions remain
Royal London has become the first provider to release an independent governance committee report, providing key insights into how committees are defining value for money and dealing with legacy pension schemes.
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NewsNHS cash for pensions offer could open loophole
An NHS trust has come under scrutiny for offering nurses cash to opt out of the pension scheme, which experts have said could lead to other employers copying the move.
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NewsOmbudsman ill-health decision underscores complexity for members
Schemes have been urged to maintain open channels of communication with employers and members around ill-health benefits after an ombudsman determination ruled against a member’s attempt to "rewrite history".
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News
Scottish ruling creates confusion for pensions lawyers
Pensions lawyers need guidance on how to treat antiquated or onerous scheme rules, experts have said, after Scotland’s highest appeal court ruled that a legal firm must pay more than £62,000 to the Scottish Solicitors Staff Pension Fund.
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OpinionInvestment lessons from DB
Talking Head: The last 10 years have seen a massive rise in defined contribution pension provision, fuelled by a combination of employers moving away from defined benefit schemes and the introduction of auto-enrolment.
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OpinionSix pages or 60? What to expect from an IGC report
It is nearly a year since the requirement to set up independent governance committees was introduced, which means the first annual reports will soon be rolling off the presses.
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OpinionStoring up a scandal? The risks of cashing in annuities
Talking Head: In her last Talking Head piece before becoming pensions minister, Ros Altmann welcomed the consultation launched by the coalition government into the creation of a secondary annuity market.
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NewsFindel forks out £2.3m to repair equalisation error
Findel Group Pension Scheme has paid more than £2.3m in past-service costs to make good an error in which a member benefit equalisation exercise was implemented incorrectly.
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News
Regulator talks tough as DC scheme governance falls short
Small and medium-sized defined contribution schemes are falling behind on governance compliance, Pensions Regulator research shows, with the watchdog vowing to use its powers where necessary.
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