Regular round-up of the latest pensions, investments, trusteeship and scheme management news
Current Issues - June 2020
02 Jun 2020 - Estimated reading time: 12 minutes
See excerpts from this month's articles below (to read more, please download our latest Current Issues):
In what we hope will not become a regular feature, we provide a round-up of pension-related news relating to the COVID-19 pandemic.
LGPS 'no boycotts' investment guidance deemed excessive
The UK’s Supreme Court has ruled that the Government exceeded its statutory remit when it warned Local Government Pension Scheme (LGPS) administering authorities not to use their investment powers in ways that were at odds with official foreign and defence policies.
Late A-day protection notifications: reasonable excuses & excessive delays
A scheme member who relied on an adviser to protect pre-6 April 2006 pension rights had a reasonable excuse for applying late, but tarried too long doing something about it. As a consequence, he was not entitled to the protection, and stands liable to pay substantial tax charges when the funds are crystallised.
As if to prove that the world is still turning on its axis, despite any indications to the contrary, the courts have continued to produce rulings on the vagaries of pension scheme indexation rules.
Insolvency law changes might affect DB schemes
The Corporate Insolvency and Governance Bill 2019-21 aims to help businesses avoid insolvency during the current period of economic uncertainty.
HMRC updates May 2020
Pensions Schemes Newsletter 120 & Countdown Bulletin 53