CMG Pension Trustees Ltd v CGI IT UK Ltd [2022] EWHC 2130 (Ch) – Radcliffe Chambers

Posted August 16th, 2022 in forfeiture, interpretation, news, ombudsmen, pensions by sally

‘On 11 August 2022 Mr Justice Leech handed down judgment in CMG Pension Trustees Ltd v CGI IT UK Ltd [2022] EWHC 2130 (Ch), a claim primarily concerning the construction of a rule in the CMG UK Pension Scheme which the defendant sponsoring employer contended provided for forfeiture of members’ benefits in specified circumstances.’

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Radcliffe Chambers, 11th August 2022

Source: radcliffechambers.com

Inflation and the Gender Pension Gap – Pump Court Chambers

Posted August 16th, 2022 in indexation, national insurance, news, pensions, women by sally

‘The June 2022 Office of National Statistics, Consumer Prices Index (CPI) figures show that inflation hit a new 40-year high of by 9.4% in the 12 months to June 2022. Indications suggest it could reach 12% in October 2022. If we could predict the future, we would all be billionaires. That said, inflation is here to stay for the short term at least.’

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Pump Court Chambers, 25th July 2022

Source: www.pumpcourtchambers.com

McCloud Remedy – a Ground to Set Aside Financial Orders? – Family Law

‘Many will recall the McCloud judgment, in which the Court of Appeal determined that the transitional provisions in the Government’s 2015 public sector pension schemes were age discriminatory. In response to the judgment, the Government agreed to unravel these changes. Last year, the Government announced its solution known as the McCloud Remedy. But what does this mean for pension trustees? Do these circumstances amount to grounds to set aside a financial remedy order?’

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Family Law, 11th August 2022

Source: www.familylaw.co.uk

Holiday pay and pensions – Local Government Lawyer

‘Doug Mullen and Billy Richards consider the pensions implications of a recent Supreme Court holiday pay case.’

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Local Government Lawyer, 5th August 2022

Source: www.localgovernmentlawyer.co.uk

Duo jailed for £20m pension fraud – Crown Prosecution Service

‘Two scammers have been imprisoned today (15 July 2022) for a pension fraud worth over £20 million which caused many of the victims to lose their entire pensions.’

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Crown Prosecution Service, 15th July 2022

Source: www.cps.gov.uk

Pensions disputes: Ombudsman clarifies ill health benefit complaints approach – OUT-LAW.com

Posted July 15th, 2022 in complaints, health, news, ombudsmen, pensions by tracey

‘Ill health pensions are frequently the subject of complaints to the UK’s Pensions Ombudsman (PO), who has helpfully explained his role and approach in two recent determinations.’

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OUT-LAW.com, 14th July 2022

Source: www.pinsentmasons.com

New Acts – legislation.gov.uk

2022 c. 35 – Judicial Review and Courts Act 2022

2022 c. 33 – Pension Schemes (Conversion of Guaranteed Minimum Pensions) Act 2022

2022 c. 31 – Health and Care Act 2022

2022 c. 30 – Building Safety Act 2022

Source: www.legislation.gov.uk

New Judgment: Commissioners for Her Majesty’s Revenue and Customs v Coal Staff Superannuation Scheme Trustees Ltd [2022] UKSC 10 – UKSC Blog

Posted April 28th, 2022 in double taxation, EC law, news, pensions, Supreme Court, tax credits by sally

‘The Respondent is the corporate trustee of a tax-exempt United Kingdom pension fund. It held a large portfolio of UK and overseas shares. To generate revenue, it engaged in a practice known as stock lending. This involves a shareholder (the lender) transferring ownership of shares to another party (the borrower) on terms that the borrower will (i) return equivalent shares to the lender at the end of the lending period and (ii) pay an amount to the lender equivalent to the dividends paid on the shares during that period. These payments are known as a “manufactured dividend” (“MD”) if the shares are held in a UK company. If the shares are in a non-UK company, they are known as a “manufactured overseas dividend” (“MOD”).’

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UKSC Blog, 27th April 202

Source: ukscblog.com

Pension fraudsters jailed after £13m scam – BBC News

Posted April 26th, 2022 in fraud, news, pensions, sentencing by sally

‘Two fraudsters have been jailed for their part in a series of scams in which 245 people lost millions of pounds in pension savings.’

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BBC News, 23rd April 2022

Source: www.bbc.co.uk

Overseas pensions and divorce – Family Law

‘Pensions can make up a significant proportion of family assets and should be fully taken into account when financial matters are dealt with during a divorce. Where a couple with UK pensions divorce in England, the court can make various orders to deal them. Most commonly, a pension sharing order is made hiving off a portion of one party’s pension and giving it to the other. However, where there are pension assets overseas or a divorce overseas and pension assets in the UK, the situation is more complex. There are two angles that need to be considered:
Can an overseas pension be shared in a divorce in England & Wales; and Can a UK pension be shared in an overseas divorce.’

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Family Law, 28th March 2022

Source: www.familylaw.co.uk

New Acts – legislation.gov.uk

Posted March 18th, 2022 in judiciary, legislation, national insurance, pensions by tracey

2022 c. 9 – National Insurance Contributions Act 2022

2022 c. 7 – Public Service Pensions and Judicial Offices Act 2022

Source: www.legislation.gov.uk

Financial Remedy Update, February 2022 – Family Law Week

Posted March 4th, 2022 in divorce, families, family courts, financial provision, news, pensions by tracey

‘Sue Brookes, Principle Associate and Nicola Rowlings, Professional Support Lawyer, at Mills & Reeve LLP consider the most important news and case law relating to financial remedies and divorce during January 2022.’

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Family Law Week, 3rd March 2022

Source: www.familylawweek.co.uk

Punter Southall Governance Services Ltd v Benge [2022] EWHC 193 (Ch) – Wilberforce Chamber

Posted February 11th, 2022 in chambers articles, news, pensions, trusts by sally

‘This decision of Chief Master Shuman concerns the circumstances in which the Court might refuse to bless a decision of pension scheme trustees, with particular reference to the meaning of “necessaries of life”, the conflicted position of member-trustees, and the relevance of disputed matters of fact. It will be important both for those considering the payment of discretionary benefits from pension schemes, including the interrelationship of scheme rules and the authorised payments regime under the Finance Act 2004, as well as more generally in relation to the robust approach the Court should take to beneficiaries seeking to oppose the blessing of trustee decisions.’

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Wilberforce Chambers, 7th February 2022

Source: www.wilberforce.co.uk

Police launch legal action against government amid row over pensions and pay freeze – The Independent

Posted September 14th, 2021 in judicial review, news, pensions, police, remuneration by tracey

‘Police officers have launched legal action against the government over pensions as relations sour with ministers.’

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The Independent, 14th September 2021

Source: www.independent.co.uk

No more reward without risk – Local Government Lawyer

Posted July 2nd, 2021 in contracting out, local government, news, pensions, waste by tracey

‘Nigel Bolton and Philip Woolham look at the lessons to be learned from an important High Court judgment for local authorities and contractors on pension exit credits.’

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Local Government Lawyer, 2nd July 2021

Source: www.localgovernmentlawyer.co.uk

Axminster: Limitation and forfeiture revisited after Lloyds – Wilberforce Chambers

Posted July 2nd, 2021 in chambers articles, forfeiture, limitations, news, pensions, trusts by sally

‘The High Court (Morgan J.) has delivered judgment in Punter Southall Governance Services Ltd v Hazlett [2021] EWHC 1652 (Ch), concerning the Axminster Carpets Group pension plan. It is now the leading judgment on limitation in claims by pension scheme beneficiaries for arrears. It also gives key guidance on the court’s power to award interest on such claims and on the interpretation and exercise of forfeiture clauses, and makes certain findings on the scope of s.37 of the Pension Schemes Act 1993. This summary only scratches the surface of a detailed 347-paragraph judgment covering several different areas of pensions and trusts law. A more flippant title might have been: “The Axminster Carpets case: a pile of issues…”’

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Wilberforce Chambers, 24th June 2021

Source: www.wilberforce.co.uk

Pension sharing orders: Finch v Baker – Family Law

Posted June 18th, 2021 in appeals, divorce, families, financial dispute resolution, news, pensions by tracey

‘The Court of Appeal judgment in Finch v Baker [2021] EWCA Civ 72 was released on 28 January 2021. The judgment provides some useful guidance on not being able to get what are essentially conduct arguments contrary to s25(g) through the back door by making “negative contribution” arguments, and it also highlights the importance of ensuring that you adduce and apply for the most appropriate and necessary evidence in advance of a hearing. Simply arguing that an updated pension report is needed, following an appeal hearing, on the basis that the pension sharing order made would not reflect the judge’s intentions as the CE figures would be significantly out of date, is insufficient and misconceived.’

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Family Law, 17th June 2021

Source: www.familylaw.co.uk

Britvic PLC v Britvic Pensions: Court of Appeal Decision Overturns High Court on Interpretation and “Corrective Construction” – Wilberforce Chambers

Posted June 14th, 2021 in appeals, chambers articles, contracts, interpretation, news, pensions by sally

‘The Court of Appeal has just handed down its decision in Britvic PLC v Britvic Pensions [2021] EWCA CIV 867, overturning the first instance High Court decision. It is a major decision on interpretation (applying principles applicable to contracts and other documents, and not just pension schemes). This note focuses on the interpretation issue of general application; a second note will touch on the pensions-specific aspects.’

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Wilberforce Chambers, 11th June 2021

Source: www.wilberforce.co.uk

Uber recognises union for first time in landmark deal – BBC News

Posted May 27th, 2021 in holiday pay, news, pensions, remuneration, taxis, trade unions by tracey

‘Ride-hailing giant Uber has agreed to recognise a trade union for the first time, in a landmark deal that should benefit gig economy workers.’

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BBC News, 26th May 2021

Source: www.bbc.co.uk

Pension sharing orders: Finch v Baker – Family Law

Posted May 20th, 2021 in divorce, evidence, financial provision, news, pensions, taxation by tracey

‘The Court of Appeal judgment in Finch v Baker [2021] EWCA Civ 72 was released on 28 January 2021. The judgment provides some useful guidance on not being able to get what are essentially conduct arguments contrary to s25(g) through the back door by making “negative contribution” arguments, and it also highlights the importance of ensuring that you adduce and apply for the most appropriate and necessary evidence in advance of a hearing. Simply arguing that an updated pension report is needed, following an appeal hearing, on the basis that the pension sharing order made would not reflect the judge’s intentions as the CE figures would be significantly out of date, is insufficient and misconceived.’

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Family Law. 14th May 2021

Source: www.familylaw.co.uk