Pensions: Opportunities and threats

Amanda Bell and Alasdair Wild highlight pension reforms that may impact on the structure of a financial settlement on divorce ‘It is worth considering whether there is a potential lifetime allowance problem, and whether the redistribution of pension assets between the two parties as a result of a pension sharing order could help to reduce …
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Goenka v Goenka [2014] EWHC 2966 (Ch)

Wills & Trusts Law Reports | April 2016 #158

This was a claim for reasonable financial provision under the Inheritance (Provision for Family and Dependants) Act 1975 by the widow of Nirupam Goenka (the deceased). The deceased was a member of a statutory pension scheme for NHS employees. The deceased and the claimant had been married for 15 years and together had three sons, aged between 11 and 16, who were represented in these proceedings by their litigation friend, the Official Solicitor. The claimant and the deceased entered into divorce proceedings and a decree nisi of divorce was made on 15 August 2012. On 7 September ...

Pensions: Holding all the cards

Ruth Bamforth reports on the New Fair Deal provisions ‘The basic principle of New Fair Deal is that public sector employees who are transferred to the private sector should be able to remain members of the public sector pension scheme.’Pension provision is an emotive subject. As time passes fewer private sector workers have access to …
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Pensions: All change

Rebecca Dziobon outlines the major pension reforms ahead and key areas of change impacting on family law ‘The ability for retirees to access their funds in more flexible ways may result in the court adopting a different view of the nature of the pension rights involved in a case.’In the 2014 budget, the government announced …
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Pensions: Fair shares

Mike Caffyn considers the practical implications, opportunities and pitfalls of pension sharing orders ‘This article highlights some legislative changes that will come into effect from April 2014 and will potentially have a significant effect on the real value of a final salary pension.’Pension sharing orders have become the preferred method of dealing with the value …
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Pensions: Fair shares

Eleanor Aguirre summarises best practice when dealing with pension sharing ‘The law and practice on pension sharing is not straightforward, but equally it is not the impossible minefield many of us fear.’The majority of financial cases involve pensions in one guise or another. Since the advent of pension sharing orders, they have become the most …
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Pensions: An employment lawyer’s guide to auto-enrolment

Christopher Hitchins and Kathryn Pickard examine the government’s scheme to encourage more workers to save for their retirement An employer must not offer a financial inducement (for example a higher salary or one-off bonus) to jobholders to encourage them to opt out of auto-enrolment. This October marked the start of mandatory pensions auto-enrolment for the …
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Young & anr v HM Attorney General & ors [2011] EWHC 3782 (Ch)

Wills & Trusts Law Reports | June 2012 #120

Wedgwood Museum Trust Ltd (the museum company) was insolvent. Directions were sought by the administrators of the museum company as to whether or not a unique museum collection of pottery and other artefacts built up over many years by Josiah Wedgwood and Sons Ltd (the trading company) was available to pay liabilities arising in the insolvency of the museum company.

The museum company was incorporated in 1962 and received the collection as a gift from the trading company in 1964. At the time of the gift, it was not contemplated that the museum company would acquire liabilities. Th...

Pensions: Delayed interest

Caroline Watson suggests potential solutions where delaying a pension sharing order is desirable ‘Parties will need to balance the benefit of preserving a pension income, and/or ongoing maintenance, against the reduction in their pension incomes upon implementation’ Where a couple want to delay implementation of their pension sharing order, the first question is why? Delaying …
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Pensions: Making sure you (don’t) get your pension

Roderick Ramage reviews the relationship between outsourcing and pensions ‘A major concern to the government and public sector unions was that the exemption of mainstream pension benefits from TUPE would result in the transferring employees, many of whom are in relatively low paid work, losing membership of a public sector pension scheme, as a result …
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