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COMP meaning

What does COMP mean?
In pensions practice, COMP refers to a contracted-out money purchase occupational pension scheme that enabled members to contract out of SERPS/State Second Pension and build defined contribution benefits in the scheme. The expression is widely used by practitioners; “contracted-out money purchase scheme” was provided for in legislation, including the Pension Schemes Act 1993 (and the Pension Schemes (Northern Ireland) Act 1993) and the Contracting-out (money Purchase) Regulations 1997. Key features included: a contracting-out certificate; National Insurance rebates paid by HMRC/NICO into members’ pots (rather than reduced NI rates); benefits classified as protected rights with special rules on investment, survivor benefits and annuitisation; and no GMP accrual. Contracting-out on a money purchase basis was abolished from 6 April 2012. Protected rights were removed and converted into ordinary scheme rights, and any COMP status ceased. All remaining contracting-out (salary-related) ended on 6 April 2016. The term is therefore historic but still encountered in scheme rules, transfer histories, and due diligence on corporate and pension transactions. Usage and effect are consistent across England and Wales and Scotland, with parallel provisions in Northern Ireland. The concept does not apply in Ireland, which did not operate SERPS/S2P-style contracting-out.
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NEWS
UK and EU TMT weekly: AI Act amendments and enforcement, Online Safety regulations, CMA agentic AI guidance, ICO age assurance, DMA-GDPR, Ofcom telecoms access review (19 March 2026)

In this issue: New technologies Internet Data protection Media Advertising, marketing and sponsorship Reputation management Telecommunications LexTalk®TMT: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information New technologies DSIT releases report and impact assessment on copyright and artificial intelligence DSIT, the Department for Culture, Media and Sport (DCMS) and the Intellectual Property Office have jointly issued a report and an impact assessment exploring the use of works protected by copyright in the training and development of AI systems. These have been published pursuant to sections 135 and 136 of the Data (Use and Access) Act 2025. See: LNB News 18/03/2026 44. EDPS unveils Compass on supervision and enforcement under the EU AI Act The European Data Protection Supervisor (EDPS) has released its Compass setting out its expanded role under the EU AI Act as a market surveillance authority...

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NEWS
EU competition update: State aid crisis framework consultation, Whelan named DG COMP, chocolate confectionery raids, key merger clearances, and notable State aid and antitrust appeals (13 April 2026)

State aid Commission consults Member States on proposal for a Temporary Crisis Framework Commission President Ursula von der Leyen set out steps to lessen the impact of Middle East developments on EU energy prices and EU economies. Joint gas purchasing Demand reduction Structural reforms She also signalled that the Commission will engage with Member States on making State aid rules more flexible to help vulnerable sectors, with a temporary framework planned for adoption in April 2026...

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NEWS
EU competition update: DG COMP Merger Brief on Luxembourg beverage wholesalers, Philips 66 notification, FSR Suzano/Kimberly-Clark milestone, and CJEU hearing on Gibraltar tax aid (2 March 2026)

Merger control Commission publishes Competition Merger Brief: February 2026 On 27 February 2026, the Commission released Issue 1/2026 of its Competition Merger Brief, setting out DG Competition’s assessment of recent merger matters. This issue spotlights Brasserie Nationale/Boissons Heintz (M.11485), a case that obtained conditional clearance at Phase I in July 2025 after concerns that uniting the two leading beverage wholesalers serving on-trade customers in Luxembourg could trigger price rises, limit choice, and create foreclosure risks...

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PRACTICE NOTES
Otis (C-435/18): CJEU allows Article 101 damages claims by non-suppliers or purchasers, including state lenders, for cartel-inflated loans and lost investment returns

CASE HUB ARCHIVED – this archived case hub captures the position as at the judgment dated 12 December 2019; it is no longer maintained. See also the timeline, commentary, and related/relevant cases for further details. Case facts Outline Case C‑435/18 Otis Gesellshaft m.b.h. and Others v Land Oberösterreich and Others – a national judicial reference from Austria seeking clarification on whether various lift manufacturers should face damages claims by an Austrian local council on the basis that their cartel conduct increased the cost of its loans to construction companies. Latest developments On 12 December 2019, the Court of Justice handed down its judgment. The Court of Justice confirmed and clarified that, under Article 101 TFEU, persons who are neither suppliers nor customers on a market affected by a cartel may obtain compensation for loss caused by that cartel. Parties Otis Gesellshaft m.b.h. Land Oberösterreich Market The market for the supply of lifts and escalators in Austria’s territory....

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PRACTICE NOTES
Article 101 TFEU: European Commission fines Johnson & Johnson and Novartis €16m for pay‑for‑delay 'co‑promotion' delaying Dutch generic fentanyl (COMP/39.685, 10 Dec 2013)

Johnson & Johnson/Novartis (Fentanyl) (COMP/39.685) [Archived] CASE HUB ARCHIVED – this hub reflects the position at the date of the 10 December 2013 decision and is no longer maintained. See the timeline, commentary and related cases for further details. Case facts Outline European Commission investigation under Article 101 TFEU into Johnson & Johnson and Novartis regarding Fentanyl (case number COMP/39.685). Latest developments The Commission imposed fines of €10.798m on Johnson & Johnson (and subsidiaries) and €5.493m on Novartis (and subsidiaries). Parties Johnson & Johnson (including subsidiaries) Novartis (including subsidiaries) Market(s) Pharmaceuticals (pain-relief medicines). The medicine concerned is Fentanyl, a painkiller around 100 times stronger than morphine. Its primary use is pain relief for people with cancer...

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PRACTICE NOTES
CJEU upholds Commission’s re-approval of Wendel for VUP divested assets: trustee independence and retrospective approval in EU merger control (Éditions Odile Jacob v Commission, C-514/14 P)

CASE HUB (ARCHIVE 28/01/2016) See further: timeline, commentary and related/relevant cases ARCHIVED — this archived case hub sets out the position as at the decision of 28 January 2016; it is no longer maintained. Case facts Outline An appeal was lodged by Éditions Odile Jacob against the General Court’s ruling that upheld the Commission’s decision of 13 May 2011 endorsing Wendel Investissement as the buyer of divested assets, in line with commitments attached to the conditional clearance of 7 January 2004 authorising the merger by which Lagardère obtained sole control of Vivendi Universal Publishing’s assets (Case COMP/M.2978—Lagardère/Natexis/VUP). On 28 January 2016, the Court of Justice confirmed the General Court’s judgment, thereby holding that the Commission was right to approve, for a second time, Wendel’s purchase of Vivendi Universal Publishing’s assets—assets that Lagardère had been obliged to dispose of as a condition of the merger clearance. The dispute is predominantly about procedural matters linked to the divestiture process—namely, the suitability of the purchaser and, more...

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