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FRC issues final guidance for Virgin Media confirmations
Following the passing of the Pension Schemes Act 2026, the Financial Reporting Council has today published its finalised guidance for scheme actuaries when asked to provide retrospective confirmation to validate historic amendments invalidated by the Virgin Media decision. The substance of the guidance is unchanged from the version issued in January: the final version introduces minor amendments to the wording and references to ensure clarity and alignment with the enacted le
New LGPS governance and pooling regs
Two significant LGPS statutory instruments were laid before Parliament yesterday. The Local Government Pension Scheme (Amendment) (Governance) Regulations 2026 introduce a new governance framework for administering authorities, including mandatory governance, training and conflicts documents, a senior LGPS officer, an independent person, knowledge and understanding requirements, administration strategies and independent governance reviews aligned with valuation cycles. Th
A rose by any other name …
Naomi Kilcoyne of Wilberforce Chambers looks at a recent decision by the Pensions Ombudsman on whether a pension scheme provision which appeared on its face to be a forfeiture clause in fact operated to deprive the member of the benefit. To read the article, click on the pdf below.
Interesting issues in indemnity insurance – Part 2
In the second of his alliteratively titled articles on trustee indemnity insurance, Paul Newman KC considers the circumstances in which pension trustees can use scheme assets to purchase run-off insurance cover during the winding-up of the scheme. To read the article, click on the pdf below.
Interesting issues in indemnity insurance
In the first of two articles on trustee indemnity insurance, Paul Newman KC asks whether trustees can be required to disclose in proceedings whether they have indemnity insurance in place. To read the article, click on the pdf below.
A view from Australia
Professor Scott Donald of the University of New South Wales looks at two recent Australian cases discussing the nature of the legal interest held by a member of a superannuation fund. To read the article, click on the pdf below.
Ombudsman’s updated approach to McCloud complaints
TPO has published an update on its approach to McCloud complaints. TPO’s previous approach was to investigate such complaints only in limited circumstances, such as immediate detriment cases involving financial hardship where the scheme was not addressing the issue satisfactorily. That reflected the fact that the statutory remedy was still being introduced, and schemes needed time to adapt their systems and processes. TPO now says that, with milestones in the remedy process h
Beckmann claims and limitation
Daniel Jukes of Wilberforce Chambers examines a recent case applying a six-year limitation period to Beckmann claims, and why its reasoning may be open to challenge. To read the article, click on the pdf below.
Retrospective amendments and rewriting history
Paul Newman KC explains the limits on the validity of retrospective amendments to pension scheme documents, and the extent to which those limits may be overcome by careful drafting. To read the article, click on the pdf below.
Happy Easter from Pensions Barrister!
We are now off to eat chocolate and re-watch some old Bond films. Thanks for your support - we will be back soon with more content!
tPR publishes Virgin Media remediation guidance
The Regulator has today published guidance for trustees and managers on the proposed remediation of historic section 37 problems exposed by the Virgin Media decision . The guidance proceeds on the basis that, if the Pension Schemes Bill 2025 is enacted in its current form, many historic alterations to salary-related contracted-out schemes made between 6 April 1997 and 5 April 2016 may yet be validated, even where no written actuarial confirmation can now be found, provided th
Service, evidence and tPR's role in fixed penalty appeals
Paul Newman KC considers a recent Upper Tribunal decision raising interesting points on service, what is being decided on an appeal, and the quality of material which the Regulator is expected to place before the First-Tier Tribunal. To read the article, click on the pdf below.
