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Martin is a very experienced practitioner who has been dealing with pension issues since the Maxwell Case (where he acted for the Mirror Group Pensioners successfully recovering lost funds).
He is the author of "Pensions Act 2004" (Oxford University Press) and a contributor to a number of publications including Sweet & Maxwell’s "Law of Pension Schemes" and Butterworths’ "Pension Law".
Martin leads the pension law team at Irwin Mitchell. He has worked extensively with pension trustees and/or sponsors on such matters as benefit review and de-risking recently.
In addition Martin leads product development in other areas of pension industry such as personal pension plans, excepted group plans and off-shore arrangements.
Chambers Legal Directory describes Martin as "skilled in the practical way of doing things" and "adopting an unfussy approach".
If a business trades only in the UK, the issue is less clear as the UK Government may choose to include equivalent legislation anyway. It is generally accepted that the data protection laws are out-dated and I suspect that data protection will not stay the same for long, even though we are leaving the EU. In other words, there will be some reform. We just don’t know what it will look like.
“The Chancellor didn't explain how the Lifetime ISA would interact with employers' automatic enrolment pension obligations – fortunately as the Lifetime ISA only starts from April 2017 there's still time to thrash out the detail.
“But it will involve more complications for employers. This was a missed opportunity for the Waspis, (Women Against State Pension Inequality) - the Chancellor is looking after the young rather than the old in this budget.“
"Increasing the public sector employer contributions is to be welcomed as it is at least some recognition by the Government of the real cost of providing gold plated public pensions.
“However the contributions will need to increase considerably before these public sector pension arrangements cease to be a burden on our children and grandchildren.”
There are many thousands of pension policies out there with restrictions, penalties and bonus entitlements which don’t work very well in a flexible access environment. There should be no surprise about this as each of them were put in place before the new flexibility was even thought of.
Government is now saying it wants to free-up these restrictions by legislation but this is unrealistic. It will be impossible to draw up one piece of legislation that unpicks all sorts of varying restrictions and terms over thousands of different policies each put in place in good faith in times past. In the real world any unlocking is going to need detailed and careful negotiation with a large number of pension providers.
Trying to sweep away all restrictions on pensions will be a legal minefield and will certainly be challenged by providers. It could also be bad news for those consumers who opt for early access to their pensions and forgo valuable features such as guaranteed income in retirement.
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