Campaign against pension liberation scams
The Pensions Regulator, with other agencies, has launched a campaign against pension ‘liberation’ scams whereby a member is encouraged to transfer his benefits from a UK-registered pension scheme to another arrangement on the understanding that this will enable him to access the cash within his fund without the usual age and/or lump-sum limits applying. The regulator warns that members are sometimes encouraged to transfer their benefits to such arrangements without being informed that this could give rise to an unauthorised payment, resulting in punitive tax charges, or that the person arranging the transfer will take a large proportion of the fund as a fee. Such transfers are often to overseas arrangements, making funds difficult to trace.
The Regulator has produced a leaflet aimed at trustees giving details of some of the warning signs that indicate a transfer may form part of a pension liberation exercise and some checks which trustees can make to find out more about a receiving scheme…
If you are registered and logged in to the site, click on the link below to read the rest of the Addleshaw Goddard briefing. If not, please register or sign in with your details below.
News from Addleshaw Goddard
News from The Lawyer
Briefings from Addleshaw Goddard
Consultations released on implementation of energy efficiency regulation of the private rented sector
The Department for Energy & Climate Change has published the long-awaited consultation on implementing the provisions of the Energy Act 2011.
The Court of Appeal has overturned a High Court judge’s decision to add words to a non-compete restriction, which had originally offered the employer very little protection.
Analysis from The Lawyer
Could Slater & Gordon achieve its stated aim of becoming a top consumer brand by acquiring Pannone?
The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.