“Henry Clayton of 4 Paper Buildings outlines the consequences where a party to financial remedy proceedings becomes bankrupt after the making of a final order.”
Family Law Week, 28th June 2013
Source: www.familylawweek.co.uk
HM Revenue and Customs (HMRC) is preparing to de-register up to 500 pension providers as part of its ‘pension liberation’ compliance efforts, according to press reports.
OUT-LAW.com, 2nd July 2013
Source: www.out-law.com
“When the Pensions Regulator, acting by the determinations panel, made a determination about a financial support direction in relation to a pension scheme, the trustees of that scheme, by virtue of their office, were persons “directly affected” by that determination for the purposes of section 96(3) of the Pensions Act 2004, and accordingly had standing as of right to refer that determination to the Upper Tribunal under that provision. Further, where any person referred such a determination of the Regulator to the Upper Tribunal under section 96(3) of the Act, the two-year time limit in section 43(9), which, prior to amendment by the Pensions Act 2011, required the Regulator to issue a financial support direction within two years of the time which he selected for determining whether the preconditions in section 43(2) for the issue of a direction had been fulfilled, did not apply to any directions which the Upper Tribunal might give regarding a financial support direction under section 103(5) and (6), or to any order made on appeal from those directions.”
WLR Daily, 21st June 2013
Source: www.iclr.co.uk
“Anna Heenan, solicitor and David Salter, Joint Head of Family Law at Mills & Reeve LLP analyse the financial remedies and divorce news and cases published in May.”
Family Law Week, 7th June 2013
Source: www.familylawweek.co.uk
“A woman who received almost £100,000 too much from a pension company will keep the money, an ombudsman has decided.”
Daily Telegraph, 14th May 2013
Source: www.telegraph.co.uk
“Hundreds of thousands of people who care for elderly or disabled relations will be given new rights to state support for the first time, Norman Lamb, the Care and Support Minister, says.”
Daily Telegraph, 7th May 2013
Source: www.telegraph.co.uk
“Following the case of O’Brien v Ministry of Justice and the decision of the UK Supreme Court that fee-paid Recorders are entitled to a pension, The Lord Chancellor has written today to the Lord Chief Justice, the Lord Chief Justice Northern Ireland, the Lord President of the Court of Session, the President of the UK Supreme Court and the Senior President of Tribunals to announce a moratorium in fee-paid judicial pension cases.”
Ministry of Justice, 5th April 2013
Source: www.justice.gov.uk
“Article 48FEU of the FEU Treaty and articles 3, 46(2)(a) and 47(1)(a) of Council Regulation (EEC) No 1408/71 of 14 June 1971 on the application of social security schemes to employed persons, to self-employed persons and to members of their families moving within the Community (as amended), precluded legislation of a member state under which the theoretical amount of the retirement pension of a self-employed worker, migrant or non-migrant, was invariably calculated on contribution bases paid by that worker over a fixed reference period preceding the payment of his last contribution in that member state, to which a fixed divisor was applied, when it was impossible for either the duration of that period or the divisor to be adapted so as to take account of the fact that the worker concerned had exercised his right to freedom of movement.”
WLR Daily, 21st February 2013
Source: www.iclr.co.uk
“Thousands of part-time judges will be entitled to a public-sector pension for the first time at a cost of up to £2 billion following a ruling by fellow judges in the highest court in the land.”
Daily Telegraph, 17th February 2013
Source: www.telegraph.co.uk
“The Pensions Regulator has published revisions to the current Determinations Panel procedure as well as a separate Case Team procedure following a period of consultation. The procedures detail the processes used by the Determinations Panel and the regulator’s case teams in cases where the final decision rests with the Panel. Thomas Robinson, barrister at 11 Stone Buildings, explains the key changes and their potential impact on pension schemes.”
11 Stone Buildings, February 2013
Source: www.11sb.com
“Divorcees who separated in the past 12 years could have to hand over more of their pension income to their former spouse. Pension funds are often the main asset of a marriage and are frequently more valuable than the home, but according to a report from Divorce LifeLine in as many as half of the 1.5 million divorce settlements in the UK since December 2000, the divorce pensions may have been undervalued.”
Daily Telegraph, 12th February 2013
Source: www.telegraph.co.uk
“A part-time fee-paid judge was a worker under European Union law and had a right not to be treated in a less favourable manner than comparable full-time workers. The denial of retirement pensions to part-judges when full-time judges were granted pensions was less favourable treatment for which there was no objective justification. Accordingly, on the basic principle of remunerating part-time workers pro rata temporis, a recorder was entitled to a pension on terms equivalent to those applicable to a circuit judge.”
WLR Daily, 6th February 2013
Source: www.iclr.co.uk
Supreme Court, 6th February 2013
“Judges have been given figures showing how much they will lose when their tax-free pension allowances are cut in line with government reforms of public sector pay.”
The Guardian, 6th February 2013
Source: www.guardian.co.uk
“The Financial Services Authority (FSA) is investigating whether consumers are
getting a ‘fair dea’ when purchasing annuities, it has announced.”
OUT-LAW.com, 4th February 2013
Source: www.out-law.com
“An investigation into whether millions of members of workplace pensions are getting good value for money has been launched by the Office of Fair Trading (OFT).”
The Guardian, 17th January 2013
Source: www.guardian.co.uk
“Details of the government’s plans to introduce a flat-rate pension by 2017 – equivalent to £144 per week in today’s money – have emerged ahead of an official announcement next week.”
BBC News, 12th January 2013
Source: www.bbc.co.uk
Konica Minolta Business Solutions (UK) Ltd v Applegate: [2012] EWHC 3741 (Ch); [2013] WLR (D) 9
“When applying uniform accrual to ‘so much of any benefit’ by virtue of section 74(3) of the Pension Schemes Act 1993 one was being directed not merely to what one might call the top slice, the benefit which actually accrued at the higher rate, but that element of a benefit package which was the subject of the higher rate. In section 74(3) the ‘benefit’ referred to was the composite of the various benefits which made up long service benefit and if the exception applied it did with regard to the entirety of such a component.”
WLR Daily, 21st December 2012
Source: www.iclr.co.uk
“For the purposes of paragraph 3(7)(c) of schedule 5 to the Coal Industry Act 1994 the requirement that the rules of a new pension scheme be ‘no less advantageous’ than the previous scheme was not the same as a requirement that the rules of the new scheme be the same as the rules of the pre-existing scheme. The omission of a pro-rating provision from draft rule 33 of the Schedule to the Industry-Wide Coal Staff Superannuation Scheme Regulations 1994 (SI 1994/2973) was not a mistake in drafting and the rule fell to be construed in accordance with its express terms.”
WLR Daily, 20th December 2012
Source: www.iclr.co.uk
“The financial sector will no longer be allowed to use gender as a determining factor in the assessment of risk and therefore the price of premiums and benefits from Friday 21 December 2012.”
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Cloisters, 19th December 2012
Source: www.cloisters.com
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