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Pensions UK: What's new this week - April 2021 #2 | Allen & Overy LLP


Covid-19: TPR updates auto-enrolment guidance
The Pensions Regulator (TPR) has updated its Covid-19 guidance on auto-enrolment, to reflect the extension of the Coronavirus Job Retention Scheme (CJRS) until September 2021. Under the extended CJRS employers are required to pay National Insurance contributions and pension contributions. From July, an escalating employer contribution is being introduced towards the wage costs of furloughed staff.
Rectification granted to restore missing words: Iggesund v Messenger
The High Court has ordered rectification of a 2004 deed to re-insert words that were omitted in error when the rules were amended, and that provide for an index other than RPI to be applied to pension increases based on the advice of the scheme actuary. The application for rectification was not contested, and the court regarded it as ‘the clearest possible case for rectification of a pension deed based on an omission that was not noted by any of the persons inv ....

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