Pensions Institute meaning

In this issue: Brexit highlights Brexit SIs Post-Brexit transition guidance Equality and human rights Judicial review Freedom of information Public procurement Subsidy control and State aid Public sector pensions State accountability and liability Free webinars: Judicial Review: Practice and Procedure Pt 1 and 2 LexTalk®Public Law: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Brexit highlights Institute for Government explainer on UK–EU summit outcome The Institute for Government has released an explainer following the inaugural UK–EU Summit in London, setting out the freshly announced results of the UK–EU reset. See: LNB News 03/06/2025 43. Weekly round-up of EU–UK TCA Specialised Committees’ publications—30 May 2025 This summary covers publications issued by Specialised Committees created under the EU–UK Trade and Cooperation Agreement (TCA) for the period 27–29 May 2025. See: LNB News 30/05/2025 15...

In this issue: Probate Trusts Court of Protection UK taxes for private clients Spouses, civil partners and cohabitants HMRC Manuals updates Tax avoidance, evasion and non-compliance Family enterprises and ownership models Pensions, insurance and tax-efficient investments Scotland, Wales and Northern Ireland International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk® Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Latest Q&As Useful information Probate Law Commission launches consultation on burial and cremation laws The Law Commission has opened a consultation to modernise burial and cremation law, parts of which are more than 170 years old. Draft proposals cover regulation of burial grounds; grave re-use and reclamation; closed and disused burial sites, and exhumation; rights afforded to the Commonwealth War Graves Commission; and cremation law. Feedback is invited from the public, specialists...

In this issue: Brexit highlights Brexit SIs Post-Brexit transition guidance Constitutional and administrative law Equality and human rights Judicial review Information law Public procurement Subsidy control and State aid Other Public Law news Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Brexit highlights Cabinet Office publishes evaluation of Common Frameworks The Cabinet Office has released a review of the Common Frameworks, assessing how the UK Government and the devolved administrations collaborate after Brexit. Drawing on proforma data across 28 frameworks and six case studies, the review concluded that, although the frameworks support effective intergovernmental collaboration, there is scope to enhance cross-framework alignment, stakeholder participation and central guidance. It also observed that many processes within the frameworks remain untried, with limited examples of formal dispute resolution or managing divergence, and recommends continued evaluation as the frameworks mature. See: LNB News 18/07/2025...

Sound administration underpins the smooth operation of a pension scheme and the delivery of good member outcomes, not least because administrators are typically members’ first port of call; consequently, their effectiveness, consistency and accuracy indeed strongly influence member experience and results. In short, administration counts because it is the usual locus of pension governance, safeguarding data accuracy, regulatory compliance and correct member outcomes being delivered on a consistent basis. What is a scheme administrator? For the purposes of this Practice Note, ‘scheme administrator’ means the individual or entity that supports the scheme’s day-to-day running by planning, managing and performing its administrative tasks. This can be an external provider, a dedicated internal team within the employer and/or the employer’s human resources or finance functions and departments. This usage is different from the ‘scheme administrator’ in Part 4 of the Finance Act 2004 (FA 2004), denoting the person or persons who ensure the scheme meets FA 2004 requirements in full. In practice, that statutory capacity is...

Meaning of ‘non-executive director’ The broad definition of ‘director’ is not closed. Under the Companies Act 2006 (CA 2006), a director is any person who occupies the office of director, whatever title they hold. Accordingly, this covers both executive and non-executive directors (NEDs). Executive directors are typically authorised, either by the company’s constitution or by authority delegated from the board, to manage the company’s day-to-day affairs, and they usually have a full-time service contract. NEDs generally: have no executive powers play a pivotal role in the company’s corporate governance are not employees of the company There are a number of challenges around granting shares to NEDs. This Practice Note considers the issues to assess when offering shares or share-based remuneration to NEDs, including: the potential impact on the NED’s independence the share dealing provisions of Assimilated Regulation (EU) 596/2014 for the UK, and the Market Abuse Regulation (Regulation (EU) 596/2014) previously and for the EU ...

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z This glossary provides helpful (re)insurance and underwriting definitions. For focused guidance on reinsurance terminology, see Practice Note: Reinsurance—essentials. A Accident An unforeseen or unintended event or incident that typically results in damage or injury (physical or financial) to the insured or a third party. Accidental damage Unintended or unexpected harm or damage caused to property or a person. Accidental death benefit Some life insurance policies pay an extra amount, over and above the original sum insured, if the insured dies because of an accident. Act of God (force majeure) An occurrence beyond anyone’s control, such as a natural disaster. Active underwriter The person with primary responsibility and authority to accept insurance and reinsurance risks on behalf of the members of a syndicate in the Lloyd’s market. See also Underwriter. Actuary A qualified professional who...

Stop press: The Data (Use and Access) Act 2025 (Commencement No 6 and Transitional and Saving Provisions) Regulations 2026, SI 2026/82 put the outstanding elements of the Data (Use and Access) Act 2025 (DUAA 2025) into effect. This completes commencement of the DUAA 2025, as the last outstanding sections take effect on the dates noted above. Measures concerning subject access requests, legitimate interests, purpose limitation, automated decision-making, international transfers and enforcement take effect from 5 February 2026, while measures on penalty notices and complaints apply from 19 June 2026. For further detail and guidance, see Practice Note: Data (Use and Access) Act 2025—employment implications. This Precedent will soon be revised to reflect these updates. [ Enter name and address of employer ] Dear [ enter name ] Draft approved apprenticeship agreement Please find enclosed a draft apprenticeship agreement for you to consider. [ You will notice sections in square brackets requiring your guidance, and I have added optional clauses for your consideration....

PMI—Guide to the Key Principles of Pension Administration Agreements (November 2014) In November 2014, the Pensions Management Institute (PMI) unveiled a revised best practice guide that outlines the core principles governing pension administration agreements. The guide was developed in partnership with CMS and Muse Advisory. It is particularly pertinent to third-party administrators, though it also applies to schemes where administration functions are carried out in-house...