Pensions Law

NEST: evolving for the future

The Department for Work and Pensions and the National Employment Savings Trust (NEST) Corporation are seeking views on where government might adapt NEST's framework.

Capping early exit charges for members of occupational pension schemes

The Department for Work and Pensions is holding a consultation on government plans to cap early exit charges in occupational pension schemes that contain flexible pensions.

Secondary annuity market - proposed rules and guidance

The Financial Conduct Authority is holding a consultation on their proposed new rules and guidance for the secondary annuity market. The rules are designed to help provide appropriate consumer protection while promoting effective competition in the interests of the consumer.

Creating a secondary annuities market: tax framework

HM Revenue & Customs is holding a consultation on the proposed secondary market for pension annuities. The creation of a secondary annuities market is intended to extend greater flexibility and freedom to people who had little choice but to buy an annuity with their pension pot.

Compensation for Loss of Pension Rights in Employment Tribunals

A Working Group of Employment Judges are holding a consultation in response to the need identified by Lord Justice Underhill in Griffin v Plymouth Hospital NHS Trust [2014] IRLR 962, to review the 2003 booklet ‘Compensation for Loss of Pension Rights: Employment Tribunals’ in order to reflect recent changes in pension law and practice.

The consultation is proceeding in parallel in England and Wales and Scotland, given that the Working Group is a joint enterprise between the two jurisdictions.

Better workplace pensions- Banning member-borne commission in occupational pension schemes

The Department for Work and Pensions is holding a consultation on draft regulations that the government plans to use to ban member-borne commission in occupational pension schemes.