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Pensions: What's new this week July 2021 | Allen & Overy LLP


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Welcome to your weekly update from the Allen & Overy Pensions team, covering all the latest legal and regulatory developments in the world of occupational pensions.
This week we cover topics including: PSA21: response to consultation on employer resources test and information powers; TPR publishes 2021 Annual Funding Statement analysis; PASA: Counter fraud guidance; Data transfers: UK adequacy decision adopted; and HMRC newsletter 130.
PSA21: response to consultation on employer resources test and information powers
TPR publishes 2021 Annual Funding Statement analysis
PASA: Counter fraud guidance
HMRC newsletter 130
PSA21: response to consultation on employer resources test and information powers ....

United Kingdom , Financial Reporting Council , Pensions Administration Standards Association , Allen Overy , European Union , European Commission , Overy Pensions , Funding Statement , Pensions Regulator , Pension Schemes Act , Contribution Notice , Managing Pension Schemes , ஒன்றுபட்டது கிஂக்டம் , நிதி புகாரளித்தல் சபை , ஆலன் ஓவரீ , ஐரோப்பிய தொழிற்சங்கம் , ஐரோப்பிய தரகு , நிதி அறிக்கை , ஓய்வூதியங்கள் சீராக்கி , ஓய்வூதியம் திட்டங்கள் நாடகம் , பங்களிப்பு அறிவிப்பு , நிர்வகித்தல் ஓய்வூதியம் திட்டங்கள் ,

The Pensions Regulator's home inspections could affect remote workers | Analysis


2021-05-04T16:49:00+01:00
The Pensions Regulator’s new powers includes the right to enter some premises as a result of people continuing to work from home. Specialist pensions lawyers Anne-Marie Winton and Danyal Enver, Arc Pensions Law, share their advice on how you can prepare.
Under current UK pensions legislation, the Pensions Regulator can have the power to enter private homes used by, or by the permission of, the occupier for the purposes of trade or business.
The existing provisions, which have been in place since 2005, allow the Regulator to enter some premises at any reasonable time, in order to gather information during certain, limited statutory investigations. However, the Regulator is having its information gathering and inspection powers extended by the Pensions Schemes Act 2021 due to come into force in Autumn 2021. In light of the Covid-related switch to home working in 2020, and with many companies exploring whether to make a more permanent sh ....

United Kingdom , Pensions Regulator , Pensions Schemes Act , Pensions Act , Pension Schemes Act , Contribution Notice , Financial Support Directions , ஒன்றுபட்டது கிஂக்டம் , ஓய்வூதியங்கள் சீராக்கி , ஓய்வூதியங்கள் திட்டங்கள் நாடகம் , ஓய்வூதியங்கள் நாடகம் , ஓய்வூதியம் திட்டங்கள் நாடகம் , பங்களிப்பு அறிவிப்பு ,

Lock 'em up? The Pensions Regulator's new criminal powers


Lock ‘em up? The Pensions Regulator’s new criminal powers
From 1 October 2021, The Pensions Regulator (TPR) will have new criminal powers to bolster its anti-avoidance arsenal, but what does it really mean for those involved with the running of pension schemes?
The new powers allow TPR to investigate and prosecute any person who avoids an employer debt, anyone who does (or doesn’t do) something which would prevent pension scheme members from receiving their benefits in full, and anyone who does not comply with a contribution notice issued under Section 38 of the Pensions Act 2004.
Anyone prosecuted by TPR for these offences faces up to seven years in prison and a potentially unlimited fine. Either consequence is likely to be a worrying one for those potentially within scope of the new powers, and many are speculating that we might see an exodus of non-professional trustees who do not want to open themselves up to the risk of imprisonment for a task they often vol ....

United Kingdom , Pensions Regulator , Pensions Act , Pension Schemes Act , Regulator Powers , Criminal Offences , Pension Schemes Act 2021 , Anti Avoidance , Contribution Notice , Employer Debt , ஒன்றுபட்டது கிஂக்டம் , ஓய்வூதியங்கள் சீராக்கி , ஓய்வூதியங்கள் நாடகம் , ஓய்வூதியம் திட்டங்கள் நாடகம் , குற்றவாளி குற்றங்கள் , ஓய்வூதியம் திட்டங்கள் நாடகம் , பங்களிப்பு அறிவிப்பு , முதலாளி கடன் ,

UK Pension Schemes Act 2021


Friday, January 22, 2021
It has been a long and tortuous process, but the pension schemes bill has finally completed its passage through parliament and we just await the formality of Royal Assent before we have the Pension Schemes Act 2021 (the Act). Well done to Pensions Minister, Guy Opperman, for (almost) achieving his goal to pass this legislation in 2020 – not an easy task when parliament has been diverted by COVID-19 and Brexit.
I will start with a few comments on the most publicised aspects of the Act, i.e. the new powers given to The Pensions Regulator (TPR) to impose criminal penalties and fines, and anticipated requirements relating to notifications about corporate sales and debt security. ....

Guy Opperman , Royal Mail , Pensions Dashboards Programme , Royal Assent , Pension Schemes Act , Pensions Minister , Pensions Regulator , Contribution Notices , Contribution Notice , பையன் ஓப்ப்ெர்மான் , அரச அஞ்சல் , அரச ஒப்புதல் , ஓய்வூதியம் திட்டங்கள் நாடகம் , ஓய்வூதியங்கள் அமைச்சர் , ஓய்வூதியங்கள் சீராக்கி , பங்களிப்பு அறிவிப்புகள் , பங்களிப்பு அறிவிப்பு ,