Status disclosure statement meaning

This Checklist offers an overview of the information an annual benefit statement must contain under regs 16, 16A and 17 of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013, SI 2013/2734 (the Disclosure Regs 2013). It applies irrespective of whether the pension arrangement in question is a defined benefit scheme, a cash balance arrangement or any other money purchase set‑up. Benefit statements for benefits other than money purchase benefits Active, deferred and pension credit members who are entitled to benefits other than money purchase benefits (for example, final salary or career average benefits) may ask the trustees or managers of the scheme for a benefit statement once in every 12‑month period. The trustees must provide the statement as soon as practicable and, in any event, within two months of their request. The precise content of the annual benefit statement varies according to the member’s status, and the accompanying table identifies the information requirements for benefit statements for each relevant type of member...

Preparatory steps Secure the employee’s most recent employment contract, together with any variations, related correspondence forming part of the contract, and any company handbook considered contractual Verify the employee’s continuous service particulars, including the employment start date and the dates of any contract amendments during employment Gather pension details: whether the scheme is defined benefit or defined contribution, and whether all employer contributions are fully up to date Identify the basis for the settlement-e.g., in respect of a Workplace Relations Commission (WRC) claim, a redundancy payment, a personal injury claim, or another legal claim Where multiple claims are being resolved, ensure agreement with the employer on how the overall settlement is apportioned to each claim, and that both parties clearly understand the tax treatment of each amount Ascertain any shares or share option schemes held by the employee, paying close attention to any definitions relating to leaver status that apply...

In this issue: Commercial Corporate Data protection and cybersecurity Financial services Energy Environment Insurance and reinsurance IP Life sciences TMT International trade Daily and weekly news alerts Trackers Commercial Commissioner McGrath briefs MEPs on future consumer protection initiatives On 8 April 2025, European Commissioner for Democracy, Justice, the Rule of the Law and Consumer Protection, McGrath, briefed MEPs on forthcoming consumer protection initiatives. See: LNB News 08/04/2025 41... Corporate European Parliament votes to postpone corporate sustainability and due diligence rules Following the Commission’s omnibus package of 26 February 2025, the European Parliament approved a delay to applying the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CS3D) for certain companies. On 3 April 2025, the vote was 531 in favour, 69 against, and 17 abstentions. For the largest companies, CS3D will be deferred by one year. Member States have until 26 July 2027...

In this issue: Horizon scanning Directors Employment contract Pay Tax Prohibited conduct protection at work Diversity and gender pay gap Whistleblowing Union status and obligations Financial services and banking: employment issues Employment tribunals Immigration IRLR Highlights—April 2025 New and updated content Dates for your diary Trackers New Q&As Employment resources on Lexis+® LexTalk®Employment: a Lexis®Nexis community Daily and weekly news alerts Horizon scanning Calls from businesses urging the UK government to moderate its employment law agenda have been largely set aside, with the Employment Rights Bill (ERB) further enhancing workers’ entitlements on 4 March 2025. See Law360: Employment Rights Bill is pro‑worker but not pro‑business. Directors The Department for Business and Trade (DBT) has issued the draft Companies (Directors’ Remuneration and Audit) (Amendment) Regulations 2025, which are undergoing parliamentary sifting as at 4 March 2025. The package is intended to streamline directors’...

In this issue: Equity Capital Markets Environmental, social and governance issues Brexit Members Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Equity Capital Markets FCA publishes final reforms to listing regime in new UK Listing Rules sourcebook Corporate analysis: This piece outlines the principal features of the Financial Conduct Authority’s (FCA) reforms to the UK listing framework, issued on 11 July 2024 within the new UK Listing Rules sourcebook, and due to take effect on 29 July 2024. The package arises from recommendations in the UK Listing Review report published in March 2021. See News Analysis: FCA publishes final reforms to listing regime in new UK Listing Rules sourcebook. FCA overhauls listing rules to increase opportunities within UK stock markets The FCA has unveiled the UK Listing Rules (UKLR), delivering a sweeping reset of the listing landscape and establishing a streamlined, more competitive structure...

The Private Intermittent Securities and Capital Exchange System (PISCES) is a five-year sandbox for financial market infrastructure, created to support periodic secondary dealing in the shares of private companies. Put in place under the Financial Services and Markets Act 2023 through the Private Intermittent Securities and Capital Exchange System Sandbox Regulations 2025 SI 2025/583 (the PISCES Regulations 2025), the regime aims to bridge the ‘liquidity gap’ between fully private capital markets and the UK’s public markets, including AIM and the London Stock Exchange’s Main Market for listed securities. The Financial Conduct Authority (FCA) oversees and administers PISCES and, in June 2025, published its final rules for the sandbox within the PISCES Sourcebook (PS), alongside consequential amendments to the FCA Handbook, as detailed in FCA Policy Statement PS25/6: Private Intermittent Securities and Capital Exchange System: Sandbox Arrangements (June 2025). This Practice Note outlines the PISCES regime, setting out the regulatory framework and offering practical guidance on how it is intended to operate....

This Practice Note sets out guidance on proving factual matters, including the status of witness statements. It also examines the approach to deploying factual evidence in later proceedings and the admissibility of factual findings from other tribunals. Witness immunity from suit is considered as well. Burden of proof Under English law, a party who alleges a particular fact that is not self‑evident must prove it (Robins v National Trust, as cited in Ball v Ball). The courts have recognised that the character of the allegation bears on what is required to prove it: the more serious, or the less inherently likely, the fact alleged, the more cogent and persuasive the supporting evidence must be (Ma v St George’s Healthcare NHS Trust at [11], cited in Serafin v Malkiewicz at [87]). The necessary proof does not have to be a witness statement from the party with the onus. In X v The Transcription Agency LLP, the court rejected the suggestion that a witness statement is required on the...

Background There are legal requirements governing the notices and statements that must be made when an auditor leaves office. Section 18 and Schedule 5 of the Deregulation Act 2015 (DA 2015), effective from 1 October 2015, introduced a series of auditor-related reforms, including the rules on notices and statements on an auditor’s cessation of office. Those measures apply to financial years starting on or after 1 October 2015. For these notice and statement obligations, the DA 2015 amended the Companies Act 2006 (CA 2006) so that a distinction is drawn between companies and non-companies (with each category treated slightly differently), replacing the earlier split between quoted and unquoted companies (again, each treated slightly differently) that applied before the DA 2015 amended the CA 2006. This change reoriented the framework and aligned the obligations with entity status rather than listing status, while preserving differential treatment where appropriate under the revised statutory regime. For information on the provisions relevant to financial years commencing before 1 October 2015, consult the archived Practice...