It was not legally risky for the Airways Pension Scheme (APS) trustees to unilaterally amend the trust deed to give themselves a discretionary increase power, ex-adviser Anthony Arter has said.
Giving evidence at a landmark High Court trial on 16 November, former Eversheds head of pensions and APS legal adviser Arter - now the pensions ombudsman - said he suggested the amendment as an alternative...
Pension transfer values ended 2020 at £259,000, 8% higher than the start of the year, according to XPS Pensions, after suffering periods of substantial volatility linked to the pandemic while potential scams reached record highs.
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.
The Pensions Regulator’s (TPR) long-term funding approach will put extra financial pressure on UK pension scheme sponsors, according to Aon.
Mediation has been under-utilised historically as a means of dispute resolution in this area. Mark Blyth and Geoff Egerton think this is going to change.