Trustee Knowledge And Understanding - A New Way To Keep Up-To-Date

From October 2006, all trustees have been required to have knowledge and understanding of the law relating to pensions and trusts. As the law is changing all the time, it can be difficult for trustees to keep their knowledge current. Therefore, to assist trustees we have launched a new quarterly publication, which looks at the recent legal developments, which trustees need to be aware of.

Trustees are advised to keep records of what they have done to satisfy this duty and therefore trustees who read this publication should ensure that they record they have done so either in trustee meetings or in training logs kept to show how they have complied with the knowledge and understanding requirements.

In this issue:

1. Legislation

Pensions Act 2007

Work and Families Act 2006

2. Cases

Robins v Secretary of State for Work and Pensions (ECJ)

British Vita v British Vita Pension Fund Trustees (High Court)

A F Blakemore & Son Ltd v Machin (High Court)

3. Ombudsman

R J Clark (P01373)

J L Birtwistle (L00418)

J Waugh (N00827)

R Puddephatt (Q00328)

4. Regulator

Code of practice No 10 - modification of subsisting rights

Guidance on inducement offers

Guidance on establishing and operating internal controls

Financial Support Direction

5. PPF

Newsletter No.2

Determination of levy calculation for 2007/2008

Protecting People's Pensions

6. Tax issues

Finance Act 2007

Employer pension contributions - Revenue guidance considers deductibility

Errors and mistakes guidance

Announcement on tax and NI treatment of inducement payments

Simplification Newsletter 25

Simplification Newsletter 28

Code of Guidance for Independent Trustees

Model Administration Agreement

NAPF Review of Myners Principles

7. Things to look out for

Timetable for implementing the Companies Act 2006

Member-Nominated Trustees

Financial Assistance Scheme

A full PDF copy of our new Trustee Knowledge Update can be accessed here.

This article was written for Law-Now, CMS Cameron McKenna's free online information service. To register for Law-Now, please go to www.law-now.com/law-now/mondaq

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