Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Assignment definition

What does Assignment mean? In legal practice, an assignment is the transfer of an existing right (for example a debt, contractual right, receivable or intellectual property) from the assignor to the assignee. It may arise by agreement or by operation of law (such as insolvency or succession). The concept is descriptive and applied across contexts; in England and Wales it is framed by case law and statute. In England and Wales, a legal assignment of a debt or other legal chose in action requires compliance with section 136 Law of Property Act 1925 (typically: in writing, absolute and of the whole, with notice to the...

UK FSCS protection for pensions: scope, eligibility, limits and claims across occupational schemes, personal pensions/SIPPs, deposits and annuities, and interaction with the PPF

Published by a LexisNexis Pensions expert

Practice notes

This Practice Note examines the Financial Services Compensation Scheme (FSCS) in a pensions setting. For more background on the FSCS generally, consult the following Practice Notes:

The Financial Services Compensation Scheme
The payment or rejection of compensation under the Financial Services Compensation Scheme (FSCS)
Financial Services Compensation Scheme (FSCS)—the qualifying conditions for compensation
Financial Services Compensation Scheme (FSCS)—funding
Financial Services Compensation Scheme (FSCS)—automatic assignment or subrogation of rights
Financial Services Compensation Scheme (FSCS)—payment or rejection of compensation

What is the FSCS?

The FSCS is the UK’s statutory compensation fund for customers of most financial services firms authorised under the Financial Services and Markets Act 2000 (fsma 2000). It took effect on 1 December 2001. In strict terms, the FSCS is the set of rules that establish it (the Rules). The Rules were originally made by the Financial Services Authority (FSA) and, from 1 April 2013, have been made by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). For pensions, the relevant Rules are contained in the FCA Handbook’s Compensation sourcebook (COMP) and Fees manual (FEES), and in the PRA Rulebook’s Policyholder Protection...

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Rachel Couter

Osborne Clarke

Rachel specialises in financial services regulatory investigations and litigation and heads up Osborne Clarke's contentious financial services practice. Rachel is named as a leading individual by both Legal 500 and Chambers and is also in Legal 500's "Hall of Fame".She has acted for and advised various financial institutions, including banks, brokers, asset managers, lenders, custodians, trading platforms, SIPP operators, fintechs and payments providers, as well as individuals, in a wide range of complex matters, including multi-jurisdictional investigations and enforcement proceedings.Her expertise includes matters involving numerous regulatory bodies, including the Financial Conduct Authority, the Prudential Regulation Authority, the Payment Systems Regulator, the Insolvency Service and the National Crime Agency. Particular areas of regulatory compliance include market abuse, insider dealing, mis-selling, suitability, AML, systems and controls, governance, treating customers fairly, safeguarding, responsible lending, transaction reporting and complaints handling.Rachel was part of the Osborne Clarke team...

Charles Crowne

Osborne Clarke

Charles is a litigation lawyer specialising in commercial and regulatory disputes. He has expertise within the financial services sector, including a period as General Counsel of a FTSE 100 financial services firm.Charles advises on a broad range of commercial litigation, including corporate and shareholder disputes, contractual disputes, and fraud claims.His financial services regulatory experience encompasses internal and FCA investigations including enforcement proceedings, as well as strategic regulatory advice regarding financial products and investment advice. He regularly advises banks, fintechs, payment service providers, investment managers, and platforms.Charles is also a key lawyer within Osborne Clarke's highly respected pensions disputes team. He undertakes professional negligence work for both claimants and defendants, including advising one of the leading providers of pension products. He has advised on several high-profile recent...

Web page updated on 22/05/2026

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