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Coming full circle: Closing Loopholes No 2 reinstates the common law tests
On 7 December 2023, Parliament passed the Fair Work Legislation Amendment (Closing Loopholes Act 2023),
United Kingdom | Publication | October 2023
The Pensions Regulator (TPR) has published an update to its guidance on Regulated Apportionment Arrangements (RAAs), replacing its earlier guidance published in 2010 and its subsequent 2017 ‘quick guide’.
An RAA enables an employer facing inevitable insolvency to apportion its liabilities under a defined benefit scheme to another participating employer(s) and cease participation in the scheme, which will then enter the Pension Protection Fund (PPF). There are a number of regulatory requirements to be met including TPR approval and the PPF must not object to it.
The updated TPR guidance, while mostly aligned with TPR’s current approach, is more detailed than earlier guidance and places a stronger focus on the criteria needed for RAA approval.
TPR has emphasised:
The guidance sets out the following principles that will need to be satisfied and how this can be evidenced:
The guidance also states that:
Publication
On 7 December 2023, Parliament passed the Fair Work Legislation Amendment (Closing Loopholes Act 2023),
Publication
Starting in 2022, the Government of Canada has introduced three waves of amendments to the Competition Act (Act) resulting in the most significant revisions to Canada’s competition laws in over a decade.
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Prime Minister Rishi Sunak has unveiled the Conservative Party’s manifesto ahead of the general election taking place on 4 July 2024. Whilst the Conservative Party manifesto does not contain changes to employment laws which are as significant as those proposed by the Labour Party, it includes a number of policies which will impact rights and obligations in the workplace. Below is a brief summary of these proposals and the implications for employers.
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