Public sector transfer arrangements meaning

In this issue Trusts Court of Protection Elderly and vulnerable clients UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Budgets and Finance Bills Contentious trusts and estates Pensions, insurance and tax efficient investments 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 Trusts Insufficient credible evidence led to rejection of trustee expense claims (Hubbard v Hubbard) An account in common form concerning a trust holding development land, with trustees reporting to beneficiaries. The court determined the trustees failed to properly substantiate numerous costs, leading to substantial disallowances. Core principles include: trustees bear the onus to prove expenditure charged to the trust; poor or absent records are no excuse; and the court may grant a...

The consultancy stated on 6 June 2024 that mid-sized pension schemes have fewer endgame routes than either larger or smaller peers. Hymans Robertson noted that retirement savings arrangements with assets exceeding £250m enjoy broad flexibility, from continuing to operate to releasing surplus to secure partial or full insurance. By contrast, the recently floated public sector consolidator may suit schemes with less than £10m in assets, the firm added. The consolidator’s aim is to bring together a series of smaller, solvent pension schemes within a single fund. However, the 2,600-plus defined benefit plans that sit between these thresholds encounter particular obstacles, the consultancy said, especially where trustees are seeking to transfer their liabilities to an insurer...

In this issue: Horizon scanning Immigration Cross-border, international and jurisdictional issues Recruitment Employment contract Pay Benefits Prohibited conduct protection at work Data protection and employee information TUPE and asset purchases Practice, procedure and settlement Dates for your diary Trackers Employment resources on Lexis+® LexTalk®Employment: a Lexis®Nexis community Daily and weekly news alerts Horizon scanning Budget 2025—key Employment announcements and views from the market On 26 November 2025, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, unveiled a suite of tax, labour market and regulatory reforms with major consequences for employment costs, workforce planning and HR compliance. The programme includes above‑inflation rises to the National Living Wage (NLW) and National Minimum Wage (NMW), continued freezes to income tax and National Insurance contribution (NIC) thresholds, changes to pension schemes and tax‑favoured salary sacrifice, an extension of workplace benefit exemptions, revamped labour market enforcement arrangements, and progress towards...

FORTHCOMING CHANGE : On 13 October 2025, the Ministry of Housing, Communities and Local Government (MHCLG) opened a consultation on planned enhancements to the Local Government Pension Scheme (LGPS) across England and Wales. Among its proposals, the paper sets out a sweeping reform of Fair Deal protections, bringing the scheme into line with the 2013 Fair Deal guidance and phasing out ‘broadly comparable’ pension arrangements for future outsourcing, save in exceptional circumstances. Instead, staff compulsorily transferred under TUPE would keep continuous LGPS membership through a new ‘deemed employer’ model, with the original Fair Deal employer remaining fully responsible for pensions, rather than relying on admission bodies alone. These safeguards would apply across re-tenders and subsequent transfers, protecting access for ‘protected transferees’ and, at the employer’s discretion, for new joiners on the contract. For individuals presently in broadly comparable schemes, the plans anticipate bulk transfers into the LGPS that retain accrued final-salary rights, with future build-up on a CARE basis. Draft regulations to implement these...

Pension entitlements can be moved from one scheme to a different one. To prevent unfavourable tax outcomes under the Finance Act 2004 (FA 2004), any movement from a UK-registered pension scheme must be a ‘recognised transfer’, which FA 2004, s 164(1)(c) explicitly treats as an authorised member payment. This Practice Note addresses the points to consider for: the sole recognised transfer permitted from a UK-registered pension scheme to an overseas arrangement (that is, a transfer to a Qualifying Recognised Overseas Pension Scheme (QROPS))—for more detail, see: Transfer to a QROPS, below moves from a UK-registered pension scheme to overseas arrangements that are not a QROPS—for more detail, see: Transfer to an overseas pension scheme other than a QROPS, below transfers from overseas arrangements into a UK-registered pension scheme—for more detail, see: Transfers from overseas pension schemes From 13 January 2019 until IP completion day (11 pm on 31 December 2020), extra conditions applied to cross-border transfers, ie bulk transfers between...

Banking regulation—Japan—Q&A guide This Practice Note contains a jurisdiction-specific Q&A guide on banking regulation in Japan, published as part of the Lexology Getting the Deal Through series by Law Business Research (Law stated at: 25 January 2023). The authors are TMI Associates—Yoshiyasu Yamaguchi; Hikaru Kaieda; Tae Ogita; Ken Omura, as listed here 1. What are the principal governmental and regulatory policies that govern the banking sector? The Financial Services Agency of Japan (FSA) articulates its mission in Japan as enhancing public welfare by ensuring the sustainable growth of the national economy and wealth, to be achieved through the following three goals: financial stability and effective financial intermediation; consumer protection and consumer benefit; market integrity, market transparency and market functions. 2. What are the defining characteristics of a bank to be caught by the banking laws and regulations? Is non-bank fintech regulated differently? Under Law No. 59 of 1981 (the Banking Law), a ‘bank’ denotes a business that engages...