Publication
Insurance regulation in Asia Pacific
Ten things to know about insurance regulation in 19 countries.
Chancellor postpones second phase of Pensions Review “indefinitely”
United Kingdom | Publication | enero 2025
One of Labour’s election manifesto pledges was a detailed Pensions Investment Review, the second phase of which appears to have been postponed “indefinitely”. The interim report of the first phase of the review was published on November 14, 2024.
The interim report set out trends in UK pension fund investment with comparisons to selected countries and outlined proposed measures to achieve scale and consolidation in the defined contribution workplace pensions market and the Local Government Pension Scheme. A raft of measures designed to implement phase one were set out in the Chancellor’s maiden Mansion House speech.
The focus of the second phase is thought to be on pensions adequacy and further measures to improve outcomes for pensioners, such as increasing auto-enrolment contributions and the numbers of employees within scope to join such schemes.
The casualty of increased auto-enrolment inclusion from imminent pension reforms has been greeted with general disappointment from many in the industry. However, following the increase in employer NICs due to take effect from April 6, 2025, the Government has postponed imposing the additional expense of a hike in auto-enrolment contributions.
Partner
Email
lesley.browning@nortonrosefulbright.com
Recent publications
Publication
Paying the Price: Court of Appeal holds debt still due when non-fulfilment of a condition precedent is caused by the buyer’s own breach
In King Crude Carriers SA & Ors v Ridgebury November LLC & Ors [2024] EWCA Civ 719 the Court of Appeal held that the claimant sellers (the Sellers) were entitled to claim the deposits promised under sale contracts as a debt despite the defendant buyers’ (the Buyers) breach of contract, which had resulted in the non-fulfilment of a condition precedent to the payment of the deposits.
Publication
Can a charterer procure the release of a laden vessel arrested by a mortgagee bank?
As previously observed, conflicts occasionally arise between mortgagees and charterers where a mortgagee wishes to take prompt action to enforce its rights, but the charterer wishes such enforcement action to be deferred until the end of the charter.
Subscribe and stay up to date with the latest legal news, information and events . . .