Personal pension plan meaning

Original news Mr T (CAS-64304-R5R1)—14 April 2025 Summary The Pensions Ombudsman dismissed a complaint concerning the distribution of death benefits from a pension scheme. It concluded the scheme administrator’s decision was reasonable, neither irrational nor perverse. The complainant was not named in a supposed will—which was invalid as it lacked witnesses—and was the sole beneficiary of the late member’s estate. Before deciding, the administrator carried out extensive enquiries. This outcome serves as a reminder that trustees and administrators of pension schemes should undertake appropriate enquiries when determining death benefit payments. What were the facts? Mr S was a member of the AJ Bell You Invest Self invested Personal Pension Plan (the Scheme). Following his death, he was survived by, among others, Mr T. Mr T had entered into a civil partnership with Mr S...

Restructuring & Insolvency weekly highlights—29 August 2024 In this issue: Corporate insolvency processes Restructuring Personal insolvency Directors and insolvency Daily and weekly news alerts Corporate Rescue and Insolvency (August 2024 edition) New Q&A Corporate insolvency processes Company’s register of members | Conclusive or not for voting rights? (Bland v Keegan) In proceedings relating to JDK Construction Ltd (JDK), the Court of Appeal examined a challenge to the lawfulness of a written resolution appointing joint liquidators, alongside allegations of an unauthorised share transfer form. The Appellant argued her shares in JDK were wrongfully transferred, rendering the liquidators’ appointment invalid. The key question was whether the company’s register of members—recording her shares as transferred—was determinative for validating the members’ resolution. Affirming the decision of His Honour Judge Hodge KC, the Court of Appeal held that the register stands as prima facie evidence of who the members are and of the validity of resolutions passed by them, unless...

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This Practice Note sets out the principal steps for properly bringing to an end a defined contribution (DC) occupational pension scheme—also described as a money purchase occupational pension arrangement or a trust-based defined contribution plan. Throughout this Practice Note, this type of arrangement is termed a ‘DC scheme’. The guidance applies across a range of DC schemes, including trusts that sit outside the authorised master trust framework and small self-administered pension schemes (SSASs), although the latter may, in certain cases, be excluded from particular statutory obligations or requirements. This Practice Note does not cover the winding-up of any: an ‘authorised master trust’ under the Pension Schemes Act 2017 (PSA 2017)—for further detailed information, please see Practice Note: The authorisation and supervisory regime for master trusts, contract-based DC arrangements (eg group personal pension arrangements)—for further details and guidance, see Practice Note: Winding up of personal pension schemes Statute makes distinct and specific provision for hybrid schemes (combining defined benefit (DB) and DC...

Other protections available to trustees Notwithstanding frequent cautions about the burdens of trusteeship, the sanctions of the Pensions Regulator and the risks inherent in the role, pension trustees usually benefit from robust protections grounded in statute and in their scheme’s governing documents. These include: Trustee Act 1925, s 61, allowing a trustee to be relieved of liability for breach of trust where they have acted honestly and reasonably and ought fairly to be excused Trustee Act 1925, s 27 (TA 1925), which, via a notification process, protects trustees against unknown beneficiaries on a scheme wind-up Exoneration clauses in the trust deed and rules, exempting trustees from personal liability for specified acts or omissions Indemnity clauses in the trust deed and rules, ensuring that particular liability claims against trustees are met by another party or source Indemnities granted by the plan sponsor Where trusteeship is conducted through a company, an additional layer of protection applies under the Companies Act 2006....

ARCHIVED : This case tracker has been archived and is not maintained. It includes a catalogue of notable pensions rulings issued in the year 2018. Items in this tracker are arranged by subject area. Those subjects are set out in the Table of Contents (to the left of the page). This tracker also cites decisions of the Court of Justice of the European Union. In broad terms, EU decisions delivered on or before 31 December 2020 continue to be binding on UK courts and tribunals (even where the EU courts subsequently depart from them) until the UK courts use their powers to diverge. In general terms, EU case law created after that date is not binding on the UK, though the UK courts and tribunals may still 'have regard to' EU decisions if relevant. For further detail and background on the handling of EU case law, see Practice Note: Retained EU law and assimilated law...