½Û×ÓÊÓƵ

View the related checklists about Accrual

Maternity and other statutory family leave: the pension requirements—checklist

Maternity and other statutory family leave: the pension requirements—checklist Legislation protects the pension rights of members of occupational pension schemes and other employment-related benefit schemes (such as workplace personal pension schemes to which the employer contributes) who are absent from work due to a period of statutory family leave. Periods of statutory family leave include maternity leave, paternity leave, adoption leave, parental leave, shared parental leave, parental bereavement leave, and carer’s leave. Maternity leave • occupational pension schemes are deemed to contain a maternity equality rule which requires them to treat time when members are on maternity leave in the same way as time when they are not on maternity leave. The maternity equality rule applies to periods of paid and unpaid ordinary maternity leave (OML) and paid additional maternity leave (AML) • under the maternity equality rule, periods of OML and paid AML in a defined benefit (DB) scheme therefore count as pensionable service. More generally, while employers are required to continue paying contributions as normal during periods of...

Basic scheme information before 6 April 2014—checklist [Archived]

Basic scheme information before 6 April 2014—checklist [Archived] THIS CHECKLIST APPLIED ONLY TO OCCUPATIONAL PENSION SCHEMES UP TO 5 APRIL 2014 For information on the requirement to provide basic scheme information after 5 April 2014, see Practice Note: Disclosure requirements applicable to occupational and personal pension schemes after 5 April 2014 — Basic scheme information and Checklist: Basic scheme information after 5 April 2014—checklist. Basic scheme information requirement Under the Occupational Pension Schemes (Disclosure of Information) Regulations 1996, SI 1996/1655 (the 1996 Disclosure Regulations), which are now repealed, basic scheme information had to be provided to prospective members (and in certain circumstances others) by trustees of the following occupational pension schemes: • registered schemes or schemes that were formerly tax approved (or in respect of which an application for tax approval has been made which has not been determined) • schemes with superannuation funds under the Income and Corporation Taxes Act 1988, s 615(6), and • public service pension schemes (as defined in the Pension Schemes Act 1993, s 1)...

View the related flowcharts about Accrual

Liquidated damages v penalty clause—checklist

Liquidated damages v penalty clause—checklist As seen in Practice Note: Contract interpretation—distinguishing between liquidated damages and penalty clauses, the task of determining whether or not a liquidated damages clause may be held to be unenforceable as a penalty is not always an easy one. While it will be a matter of construction for the courts in each case, there are a number of factors to consider when analysing the scope of an alleged liquidated damages clause and whether or not it may be susceptible to challenge as a penalty. If drafting a liquidated damages clause, it is essential that you keep these factors in mind in drafting the clause (and its relationship with related clauses). See: • Drafting and negotiating a liquidated damages clause—checklist • Precedent: Liquidated damages clause For specific consideration of how clauses in commercial contracts which provide for ‘default interest’ have been considered in the authorities, see: • Penalty interest rates in commercial contracts • Contract interpretation—distinguishing between liquidated damages and penalty clauses—When might default interest be...

View the related practice notes about Accrual

Temporary absence and pension accrual

THIS PRACTICE NOTE APPLIES TO OCCUPATIONAL PENSION SCHEMES.There are no statutory requirements governing the treatment of members' pension rights during periods of temporary absence from work, with the following exceptions: •absences due to periods of statutory leave such as maternity leave, paternity leave, adoption leave, parental leave or shared parental leave—for further information, see Practice Note: Maternity and other statutory family leave—the pension requirements•breaks in pensionable service which are disregarded by the preservation legislation for the purposes of calculating whether an early leaver has two years' qualifying service—for further information, see Practice Note: Early leavers—preservation — Breaks in pensionable serviceSubject to these exceptions, employers need to decide how they wish to treat members' pension rights on temporary absence from work and should ensure that their scheme's trust deed and rules contain provisions clearly setting out how members' pension rights are affected during a period of temporary absence.This Practice Note only covers the treatment of pension rights during periods of temporary absence from work in circumstances other than the exceptions mentioned...

Closing a pension scheme to future accrual—employer considerations

THIS PRACTICE NOTE APPLIES TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMESMany employers operating defined benefit (DB) occupational pension schemes have sought to close those schemes to future accrual, replacing them with some form of defined contribution (DC) arrangement, typically but not necessarily in the form of a group personal pension (GPP). Sometimes the incentive for such a change arises following the acquisition of the employer(s) by a new owner determined to reduce future pension costs and/or to harmonise pension provision throughout the corporate group of which the relevant employer(s) is now a member. In other cases, the incentive for change arises during the normal course of business of the employer(s) and is usually driven by cost considerations.In any event, a proposal to close a DB scheme to future accrual will generally be perceived as a worsening of benefits for affected employees. This will generally be so even if the employer contribution rate(s) payable to the replacement DC arrangement are selected with a view to ensuring (insofar as is possible without any...

View the related precedents about Accrual

Letter—advice to employer client regarding employment of military reservists

Letter—advice to employer client regarding employment of military reservists [insert name and address of client] Private and confidential Dear [insert name] Military reservists Following your recent employment of [[insert name], who I understand is ]a member of the reserve forces, I write to advise you as requested on the rights and obligations of the Company and the reservist. I also enclose the following documents, which you may find useful: • a sample Mobilisation letter to give to the reservist if and when called up for military service, which sets out the employment-related arrangements which will apply before and during their period of mobilisation, and immediately on their return; • a Manager’s Checklist listing action points for the Company; and • a Reservist’s Checklist listing action points for the reservist. In summary: • an employee reservist has training commitments, time off for which the Company may need to consider; • as an employer, the Company has certain legal responsibilities regarding a reservist’s...

Election letter—reallocation of gain or loss to another member of a group—TCGA 1992, s 171A

Election letter—reallocation of gain or loss to another member of a group—TCGA 1992, s 171A HM Revenue and Customs [insert address] [insert date] Election under section 171A(4) of the Taxation of Chargeable Gains Act 1992 This election is made jointly by [insert name of the company to which the chargeable gain or allowable loss has accrued] (Company A) and [insert name of company to which the chargeable gain or allowable loss is to be transferred] (Company B) under section 171A(4) of the Taxation of Chargeable Gains Act 1992 (TCGA 1992). Details of group companies Company A is a company incorporated in [England and Wales OR [insert name of foreign jurisdiction]] (registered number [insert registered number]) on [insert date of incorporation]. Company A's registered office is at [insert address]. The tax affairs of Company A are dealt with by [insert Company's tax office] under reference [insert Company's tax reference number]. Company B is a company incorporated in [England and Wales OR [insert name of foreign jurisdiction]] (registered number [insert registered number])...

View the related q&as about Accrual

Is there a right under the Working Time Regulations 1998 to carry forward some unused annual leave into a subsequent leave year?

Is there a right under the Working Time Regulations 1998 to carry forward some unused annual leave into a subsequent leave year? The right to annual leave under the Working Time Regulations 1998, SI 1998/1833 (WTR 1998) is to a total of 5.6 weeks' leave each 'leave year', made up of: • a basic entitlement to a minimum of four weeks' annual leave (which equates to 20 days for a regular full-time worker) each leave year, implementing the right to annual leave under the Working Time Directive • an additional entitlement to 1.6 weeks' annual leave (which equates to eight days for a regular full-time worker) each leave year, which is a right under domestic legislation only Looking at the domestic legislation only (and leaving aside the effect of ECJ case law in relation to Working Time Directive), the WTR 1998, SI 1998/1833 clearly state that the basic four weeks' annual leave: • may only be taken in the leave year in respect of which it is...

If, after the first year of an employment, an employee takes holiday before it has been accrued, can the employer pay the employee only in respect of the holiday that has accrued at that time (and pay the remaining holiday pay as it accrues)?

If, after the first year of an employment, an employee takes holiday before it has been accrued, can the employer pay the employee only in respect of the holiday that has accrued at that time (and pay the remaining holiday pay as it accrues)? The amount of holiday that an employee (or worker) is entitled to is governed by the terms of their contract, subject to a statutory minimum of 5.6 weeks’ holiday (28 days for a worker working five days a week). An employee is entitled to be paid at the rate of a week’s pay in respect of each week of holiday. Holiday entitlement may start at the beginning of the holiday year (which will depend on the employee’s contract but may be the calendar year, their commencement date or some other period) or, if the employer has adopted an accrual scheme under the Working Time Regulations 1998 (WTR 1998), SI 1998/1833, may accrue over the course of a year. These provisions are contained in...

View the related News about Accrual

Property Disputes weekly highlights—5 June 2025

This week's edition of Property Disputes weekly highlights includes: Supreme Court decisions on the Building Safety Act 2022 and on undue influence, clarification from the Ministry of Housing, Communities and Local Government on roof gardens when assessing if a building is higher-risk, High Court decisions on a rates mitigation scheme and the validity of a contract, and a Court of Appeal decision in which it was held that section 234 of the Insolvency Act 1986 is inapplicable for repossession when property receivers have already been appointed.

Construction weekly highlights—5 June 2025

This week's edition of Construction weekly highlights includes a Supreme Court decision affirming developer’s rights to bring negligence, Defective Premises Act 1972 (DPA 1972), and contribution claims for repair costs against a structural engineer (URS v BDW), clarification from the Ministry of Housing, Communities and Local Government (MHCLG) that roof gardens shall not be considered a storey when assessing if a building is higher-risk, as well as MHCLG’s first progress report on the implementation of Phase 2 of the Grenfell Tower Inquiry, and publication of the Welsh Procurement Act 2023 guidance framework.