Supreme court: ruling on pensions for same-sex spouses and civil partners

On 12 July 2017, the Supreme Court ruled in the long-running case of Walker vs Innospec that an exemption in UK law that allowed occupational pension schemes to maintain historical discrimination between survivors’ benefits for same-sex and opposite-sex couples was incompatible with EU law.

The judgement will have significant implications for those pension schemes that had been relying on this exemption.

Click here for the full  briefing.

 

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Are pension schemes changing their approach to bulk annuities?

It has been 10 years since the term ‘buy-in’ was coined. Initially, buy-ins were for all pensioners in a scheme. As the market has evolved and schemes have become more sophisticated in their approach, subsets of pensioner liabilities are now being insured.

We are working with clients to build bulk annuity purchases into their journey plans to get them to buy-out efficiently. This approach brings with it questions and decisions for trustees.

Our latest de-risking bulletin, here.