Developments in Employee Benefits law and practice

18 June 2018

Finance (No.3) Bill

The Government will publish draft clauses for Finance (No.3) Bill on Friday 6 July 2018, along with accompanying explanatory notes, tax information and impact notes, responses to consultations and other supporting documents.

https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-06-11/HCWS757

PPF issue CVA guidance

The Pension Protection Fund Restructuring & Insolvency Team has issued ‘Guidance Note 4: Company Voluntary Arrangement’. This guidance sets out the approach adopted by the Pension Protection Fund (“PPF”) to company voluntary arrangements (“CVA”).

http://www.pensionprotectionfund.org.uk/DocumentLibrary/Documents/RandI_Guidance_Note%204_CVA_2018.pdf

Inquiry on transitioning away from RPI as measure of inflation PR analysis of ‘Tranche 13’ data

An inquiry into potentially discontinuing the use of retail price index (RPI) as a measure of inflation has been launched by the Economic Affairs Committee. Witnesses were called on 12 June 2018 to discuss the reasons for keeping RPI and to explore the impact of changing RPI would have on the people and organisations that use it. The government has indicated that such a move could save employers up to £90bn (€102bn) in pension deficit contributions.

The inquiry is expected to conclude before the summer recess.

https://www.parliament.uk/business/committees/committees-a-z/lords-select/economic-affairs-committee/news-parliament-2017/use-of-rpi/

Supreme Court holds that plumber was a ‘worker’

The Supreme Court has dismissed an appeal by Pimlico Plumber’s and ruled that a plumber can be classed as a ‘worker’ rather than self employed. Whilst the decision is fact specific, it is the latest ruling in a series of cases that could have implications for employers in terms of the individuals they need to assess for automatic enrolment into a workplace pension.

http://www.bailii.org/cgi-bin/format.cgi?doc=/uk/cases/UKSC/2018/29.html&query=Pimlico

Tracing and bulk letter forwarding service

DWP can send information from pension, insurance companies and solicitors to customers using the tracing and letter forwarding service. The have refreshed their guidance and leaflets and updated documents are available at -

https://www.gov.uk/government/publications/pensions-and-insurance-tracing-and-letter-forwarding-service?utm_source=fda9af16-7be6-4efd-b1c2-c65aef1b7734&utm_medium=email&utm_campaign=govuk-notifications&utm_content=daily

Contact:

John W. Wilson LLB(Hons) FPMI ACII, Head of Research| Email: john_wilson@jltgroup.com

Stephen Williams, Senior Research Consultant | Email: stephen_williams@jltgroup.com