Pensions : Law, Policy and Practice

TITLE
Pensions
SUBTITLE
Law, Policy and Practice
EDITORS
Sinéad Agnew,
Paul S. Davies,
and Charles Mitchell
PUBLISHER
Bloomsbury Publishing Plc
PRINT PUB DATE
2022-02-24
EBOOK PUB DATE
N/A
LANGUAGE
English
PRINT ISBN
9781509922703
EBOOK ISBN
9781509922727
PAGES
415
LC SUBJECT HEADING
Pensions-Law and legislation-Great Britain-Congresses.
LC CALL NUMBER
KD3249.A2 .P467 2020
DEWEY DECIMAL NUMBER
344.4101252
BISAC SUBJECT HEADINGS
LAW / Pension Law
NON-CLASSIFIABLE
NON-CLASSIFIABLE
DOCUMENT TYPE
book

Preface
Contents
Contributors
Table of Cases
Table of Legislation
1. Trusts as Pension Pots: A Legal-Historical Perspective, c 1800–1925
	I. Introduction
	II. Methods of Pension Provision in the Nineteenth Century
	III. The Trust and Pension Provision in the Nineteenth Century
	IV. Occupational Pension Trusts at the Turn of the Twentieth Century
	V. Conclusion
2. UK Collective Defined Contribution: Is it 'Dutch-Style' Collective Defined Contribution?
	I. Introduction
	II. Collective Defined Contribution in the Dutch Pensions Landscape1
	III. The History of Collective Defined Contribution in the Netherlands in Practice
	IV. Collective Defined Contribution: The UK Project
	V. Conclusion
3. The Employer Covenant: Status in Law and Operation in Practice
	I. Introduction
	II. What is the Employer Covenant?
	III. The Employer Covenant: Basic Legal Framework
	IV. The Employer Covenant in Practice: Ongoing Scheme Funding
	V. Corporate Transactions and Moral Hazard Issues
	VI. Employer Covenant Issues Connected with the Pension Protection Fund (PPF): Overview
	VII. Other Recent Developments Relevant to the Employer Covenant
	VIII. Conclusion
4. Interpretation of Pension Trusts: Applying the General Rules?
	I. Introduction
	II. Why do Pension Schemes Need to Look at Interpretation Issues?
	III. Are Pension Schemes Interpreted in the Same Way as Contracts?
	IV. Interpretation Principles for Other Written Documents
	V. Interpretation Principles and Trusts
	VI. Barnardo's and Pension Schemes: Background Matrix of Fact
	VII. Impact of Barnardo's
5. Rectification and Pensions
	I. Rectification will not be Ordered where an Alternative Remedy is Possible
	II. Identifying the Document to be Rectified
	III. Outward Expression of Accord
	IV. Do Communications between the Parties need to 'Cross the Line'?
	V. 'Objective' or 'Subjective' Intentions?
	VI. Determining Relevant Intentions in the Corporate Context
	VII. Defences
	VIII. Summary Judgment
	IX. Conclusion
6. The Pension Fund as a 'Virtual' Institution
	I. Introduction
	II. The Rise of the "Virtual" Institution
	III. Legal Relationships and Accountability within the Institution
	IV. The Regulatory Perspective
	V. Concluding Comments
7. Legal Consequences of the Flawed Exercise of Scheme Powers
	I. Introduction
	II. Powers Commonly Vested in Employers and Trustees
	III. Reasons why Purported Exercises of Power might be Flawed
	IV. Flawed Amendments of Pension Schemes
	V. Flawed Transfers of Pension Scheme Assets
	VI. Negating the Consequences of Non-Compliance
	VII. Conclusion
8. Expertise in Pension Trusteeship
	I. Introduction
	II. Expertise and the Size of the Pension Pie
	III. Expertise in the Myners Review
	IV. Expertise in the Regulatory Regime
	V. The Tension between Expertise and Representivity
	VI. Conclusion
9. Pension Scheme Decision-Making Influencers
	I. Introduction
	II. Situations where Trustee and/or Employer Decision-Making is Needed
	III. Influencers on Trustee and/or Employer Decision-Making
	IV. How do Influencers Affect Decision-Making in Practice?
	V. How does TPR Operate in Practice?
	VI. Pointers for Trustees and Employers
	VII. Conclusion
10. The Social Role of Occupational Pension Schemes
	I. Introduction
	II. The Purposes of Occupational Pension Schemes
	III. Three Cases
	IV. Conclusions
11. Public Law Perspectives on the IBM Case
	I. Introduction
	II. Analysis
12. Pensions Law, IBM v Dalgleish and the Public/Private Divide
	I. Introduction
	II. The Backlash Against Braganza: Private Law Retrenchment?
	III. Defending Legitimate Expectations in the Employment Context
	IV. Concluding Thoughts: The Law on Pensions as a Judicial Power Project
13. The Improper Purpose Rule: An Employer's Tool to Control Pension Trustees in Need of Reappraisal
	I. Introduction
	II. The Problem with the Concept of the "Real Purpose" of a Power
	III. The Ambit of Judicial Discretion
	IV. Where the Purpose is Expressly Addressed on the Face of a Power
	V. Conclusion
14. Pensions and the Modern Workforce
	I. Introduction
	II. Theoretical Understandings of Pensions and Pension Provision
	III. Challenges to Pension Systems from the Changing Nature of Work
	IV. Normative Criteria for Developing More Appropriate Pension Systems for the Modern Workforce
	V. Trends in Pension Reform
	VI. Conclusion
15. The Courts, Non-Discrimination and Systemic Change in UK Public Sector Pension Schemes
	I. Introduction
	II. How the Decision to Protect Older Members was Made
	III. The Litigation
	IV. Policy Implications
	V. Conclusion
16. Cutting Pension Rights for Public Workers in the United States: Don't Look to the Courts for Help
	I. Introduction
	II. Modern State and Local Retirement Pension Systems: State Autonomy in Pension Policy-Making
	III. Recent State Policy Responses to Pension Fund Inadequacy
	IV. Seeking Judicial Protection for Public Employee Pension 'Rights'
	V. Conclusion: Have the Courts Protected Pension Rights that Legislatures have Attempted to Cut?
17. Till Pensions Do Us Part: The Pension Advisory Group and the Search for Consensus on Divorce
	I. Introduction
	II. The Background to Pensions on Divorce
	III. The 2014 Pensions on Divorce Study
	IV. The Birth of the Pension Advisory Group (PAG)
	V. Themes Seen in Play
	VI. The Spectre of Negligence
	VII. Conclusion
18. 'Pension Freedoms', Social Care and Inheritance
	I. Introduction
	II. Social Care, Property and Inheritance
	III. Pensions and Social Care
	IV. Conclusion
Index