Current Issues May 2019
01 May 2019 - Estimated reading time: 10 minutes
Excerpts from this month's articles (to read more please download our latest Current Issues using the link below):
GMP equalization: guidance on ‘conversion’ route
The Department for Work and Pensions has published guidance for those who might wish to use the GMP conversion legislation when equalizing pensions for men and women.
DWP announces dashboards consultation outcome
The Department for Work and Pensions (DWP) has published its conclusions about a consultation exercise on pensions dashboards. The Government plans to compel engagement with dashboards, beginning with the largest schemes. Others should be prepared to provide data to dashboards within three to four years after the first dashboards are made available to the public.
Retrospective 'levelling down' prohibited despite scheme rule
An Advocate General of the European Court of Justice (ECJ) has said that, in his opinion, EU law prohibits retrospective equalization of retirement ages even if the change was permissible under the rules of the scheme and UK law.
Extending the ambit of civil partnerships
The Civil Partnerships, Marriages and Deaths (Registration etc) Act 2019 lays the foundations for extension of civil partnerships to mixed-sex couples. The change is likely to affect pension rights, but the financial implications will vary from scheme to scheme, and depend on the popularity of the new option.
HMRC newsletters April 2019
At the end of April 2019, Her Majesty’s Revenue and Customs (HMRC) published Pension Schemes Newsletter 109.