Following Russia’s invasion of Ukraine and the subsequent imposition of a series of economic sanctions on key Russian nationals and banks, the HP Plan Trustee is keeping a close eye on the rapidly evolving situation.

Ethical investing is one of a number of terms used to identify sustainable approaches to investing. Others include Environmental, Social and Governance (ESG), Sustainable Investing and Impact Investing.

In the days running up to the Chancellor’s second budget speech on 3 March 2021, there had been the now customary talk of a major overhaul of the tax treatment of pensions but, once again, this failed to materialise. In reality, the only change was the freezing of the standard Lifetime Allowance (LTA) at its...

Over the last couple of years the Trustee has carried out a reconciliation to ensure that the GMP element of its Plan records agree with those of HM Revenue and Customs (HMRC). This has been a complex exercise and involved a significant amount of work. The project has now been completed and member records have...

The Equitable Life Assurance Society (“Equitable Life”) business transfer to Utmost Life and Pensions Limited (“ULP”) was completed on 1 January 2020 as planned. At their meeting on 1 November 2019, Equitable Life Policyholders voted overwhelmingly in favour of closure of Equitable Life’s With-Profits Fund and the transfer to ULP, which includes the conversion of...

Some members of the Plan currently have Additional Voluntary Contributions (AVCs) invested with Equitable Life as part of a Group Policy where the Trustee is the Policyholder. In 2018, Equitable Life announced their intention to withdraw from the market and transfer their business to Utmost Life and Pensions. The proposed transfer of business (the ‘Transfer’),...

The High Court has recently decided a case to do with ‘Guaranteed Minimum Pensions’, (‘GMPs’). The judgement affects the Plan because some of its members’ pensions include a GMP element. The judgement confirms that pension schemes will need to provide equal benefits for men and women for pensionable service between 17 May 1990 and 6...

It was announced in the 2016 Budget that a Pensions Dashboard would be developed, with the expectation of being launched in 2019. It is hoped that this will allow individuals to view all their pension savings together in a single place.

In May 2016, the Government launched a free Pension Tracing Service enabling you to track down lost or forgotten pension pots. The service allows you to trace either the name of your previous employer or the name of the pension provider at that time.