Personal pensions

This Practice Note monitors the development of UK legislation brought forward under the legislative programme linked to the UK’s departure from the EU. It also features a Brexit SI database that compiles details of both draft and made secondary legislation related to Brexit. Quick links Use the links below to go directly to the relevant section or tracker. Practice area trackers Follow the links below for trackers focused on Brexit legislation across specific practice areas: Commercial Corporate Crime Dispute Resolution Employment Energy Environment Financial Services Information Law Intellectual Property Life Sciences Local Government Pensions Property R& I Tax For further updates and guidance tailored to individual practice areas, see: Brexit collection......

Under English law, binding agreements may arise orally, in writing, or by deed. This Practice Notice explores when a deed is required or preferable, and the formalities that must be observed to ensure validity. What is a deed? When a deed is required Formalities (1): in writing Formalities (2): face value Formalities (3): execution Formalities (4): delivery Escrow Witnessing Variation Failure to comply with formalities and other defects Reform For details on executing deeds in jurisdictions outside England and Wales, see Practice Note: Execution of deeds—jurisdictional guide. We have created a comprehensive, interactive collection to help users identify and navigate concepts and common issues in executing documents, including deeds. Each phase includes practical guidance, precedent clauses and Q& As relevant to that stage. For further information, see: Execution...

Introduced in 2023, the Financial Conduct Authority’s ( FCA) Consumer Duty (the Duty) signalled a major change in the FCA’s regulation of the retail sector, setting higher expectations for the level of care firms owe to consumers. The Duty forms part of the FCA’s shift to an outcomes‑based regime, prompted by worries that many firms took a reactive, ‘tick‑box’ approach to compliance. The FCA was dissatisfied with the consumer outcomes achieved under existing Handbook provisions, including the Principles for Businesses Sourcebook ( PRIN), the Product Intervention and Product Governance Sourcebook ( PROD), and the pre‑existing client best interest rules within the Conduct of Business Sourcebook ( COBS) and the Insurance: Conduct of Business Sourcebook ( ICOBS). Consequently, the FCA expects firms to raise their standards to meet the Duty’s requirements... Key points on the Consumer Duty are as follows: It took effect on 31 July 2023 for...

This Practice Note Provides practical guidance for trustees, as well as sponsoring employers, on operating a defined benefit ( DB) pension scheme that has been closed to future accrual, ie with no ‘active’ members accruing pensionable service in the scheme. It does not address the act of closing itself, nor the factors considered in reaching a decision to run a closed scheme rather than proceed to wind-up. It likewise excludes the steps involved in winding up a scheme or managing a scheme in preparation for entry to the Pension Protection Fund ( PPF). For details on these topics, refer to the following Practice Notes: Closing a pension scheme to future accrual—trustee considerations Closing a pension scheme to future accrual—employer considerations Trustee decisions and the Pension Protection Fund Winding up a defined benefit ( DB) occupational pension...

Although trustees of defined benefit ( DB) schemes are typically not signatories to sale and purchase agreements in corporate deals, they still have a crucial part to play. To properly grasp the implications of any transaction, they must also possess a solid grasp of scheme funding, so they can see the full picture. Their responsibilities include safeguarding members’ accrued promises and, as encouraged by the Pensions Regulator, taking a proactive stance on addressing funding shortfalls—this involves evaluating the employer’s financial robustness (the employer covenant) and, where suitable, seeking improved funding terms from the sponsoring employer. In line with this, the Pensions Regulator requires trustees to maintain up-to-date insight into covenant strength by undertaking routine employer covenant reviews. This regular assessment keeps trustees’ understanding current during corporate activity and supports informed, timely engagement with the sponsoring employer when appropriate. While trustees owe...

FORTHCOMING CHANGE : The Department for Work and Pensions ( DWP) is preparing to introduce a secondary notifiable events regime under section 69A of the Pensions Act 2004, which was inserted by the Pension Schemes Act 2021. Under this new framework, employers will be required to notify both the trustees and the Pensions Regulator of certain defined benefit ( DB) scheme events, and to provide an ‘accompanying statement’ (a declaration of intent) setting out the details and the mitigation steps for any potential detriment to the scheme. In a 2021 DWP consultation it was proposed that three events should trigger notification: (i) an intended disposal by the employer of a material part of the employer’s business or assets; (ii) the intended granting or extension of security over assets that would give priority to other creditors—a decision in principle by the employer to grant or...

STOP PRESS: The Financial Remedies Guide 2026 Published on 13 March 2026 by Mr Justice Peel ( National Lead Judge of the Financial Remedies Court) and His Honour Judge Hess ( Deputy National Lead Judge of the Financial Remedies Court), and approved by the President of the Family Division, the Guide supersedes and replaces: the Statement on the efficient conduct of financial remedy cases assigned to a High Court judge, whether at the Royal Courts of Justice or elsewhere (1 February 2016) (the High Court judge level efficiency statement) the Statement on the efficient conduct of financial remedy hearings in the Financial Remedies Court below High Court judge level (11 January 2022) (the below High Court judge level efficiency statement) the Financial Remedies Court Primary Principles (11 January 2022) the Notice from the Financial Remedies Court concerning electronic bundles (19 April 2022) the Allocation of financial remedies cases to High Court...

STOP PRESS : On 18 March 2026, the Pension Protection Fund ( PPF) issued its levy policy statement and the final rules for 2026/27, together with guidance for pension schemes on meeting the levy rule requirements, and setting out how the PPF intends to operate in areas where the rules allow discretion. The accompanying guidance explains how schemes should demonstrate compliance with the levy requirements and clarifies the PPF’s expected approach wherever discretion applies. The PPF’s policy statement and final rules for 2026/27 implement its earlier announcement confirming that no PPF levy will be charged to conventional schemes for 2026/27, while a proportionate, risk-based Alternative Covenant Schemes ( ACS) levy will be retained. The existing ACS framework is largely unchanged; however, the PPF has committed to accelerate its review of the ACS levy methodology to ensure it remains...

Key pensions resources are available in Lexis®Library and are referenced throughout the Pensions materials in Lexis+® UK, delivering practical commentary, legislation, rules and guidance for pensions professionals in private practice or in-house. The titles below require the appropriate Lexis®Library subscription(s) for access... Tolley’s Pensions Law Service A comprehensive commentary setting out clear guidance on the legal and technical running of pension schemes, with explanations across a wide range of topics, including: types of pension provision; establishing and amending an occupational scheme; membership and benefits; investment, assets, funding and surplus; acquisitions, mergers, transfers and winding-up; Scottish law and overseas aspects. Ideal for pensions professionals carrying out research into these areas... Halsbury's Laws of England volumes relevant for pensions professionals: Halsbury's Laws of England, Personal and Occupational Pensions, Volume 80 (2020) Halsbury’s Laws of England provides the only...

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...