Private Pension Scheme in UK Law
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It may be a ‘Fair Deal’ – but be aware of the pensions costs…
Does your firm contract with the UK public sector? If so, are you up to date with Fair Deal? The new Fair Deal policy, like the old Fair Deal policy, applies when employees who are members of a pub......... who are members of a public service pension scheme have a compulsory transfer to a private ......
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U.K. Law for the U.S. Employer, Part I: Basic Principles, Contracts, and Minimum Benefits and Rights
The United Kingdom’s and the United States’ employment laws differ in a number of ways. This three-part blog series summarizing U.K. employment laws will introduce U.S. employers to key concepts of......... . provisions for a pension; and. . whether a collective agreement applies ..., employers generally must designate a private pension scheme or enroll employees onto a ......
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An Unsigned Contract Is Not Necessarily Fatal
......These included private medical insurance and a new defined contribution pension scheme. The court held that an employee's ......
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Employer savings from CPI – mirage or magic?
In 2010 the Chancellor moved to replace the Retail Price Index (RPI) with the Consumer Price Index (CPI) for increases to public service pensions. Since then many private sector employers have soug.........Since then many private sector employers have sought to switch to CPI to reduce pension costs and risks. A forecast in 2011 estimated ... the switch can be made in a particular scheme depends on the Trust Deed and Rules and recent ......
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Local Government Pension Scheme: Potential Cost Implications of Recent Changes to Regulations
The Local Government Pension Scheme (the "LGPS") is one of the largest pension funds in the UK. It is a statutory pension arrangement and comprises 99 separate funds operated by local authorities t.........Much of the detail is contained in regulations. Local authorities have for many years outsourced services to the private sector usually involving the transfer of employees from local authorities to service providers. To protect employees in terms of their pension ......
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Introduction To UK Employment Laws For U.S. Employers
...... grievance procedures; provisions for a pension if available; and whether a collective agreement ... of employees, employers must designate a private pension scheme or enroll employees onto a ......
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Pensions Advice - Guidance For Registered Providers
...... participate in the Social Housing Pensions Scheme (SHPS) or the Local Government Pension Scheme ... LGPS is rather like operating your own private (albeit rather generous) pension scheme to the ......
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UK local government pension scheme – end of an era
The UK government has announced today probably the longest awaited policy change in the LGPS investment world, with a proposal to remove the limits on asset allocation that have been in place since......... in place since the 1980s. The consultation proposes moving to a prudential supervisory regime of the kind which has operated well in the private sector, as reinforced by the IORP Directive in the UK since 2005. Having campaigned for this reform for so long and been a member of the review group ......
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Government Consults On Pension Rights For Transfers From The Public To Private Sector
......Fair Deal requires the new private sector employer to provide a broadly comparable pension scheme for the transferred staff. Although not strictly within the remit of the review, Hutton's interim report, published on 7 October 2010, found that as ......
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Increase To The Normal Minimum Pension Age From 55 Years To 57 Years
......give individuals an opportunity to join a pension scheme by 5 April. 2023 where, if the scheme rules on 11 February 2021 already. ...including private schemes) who had an unqualified right under the. existing scheme rules at ......
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