Why do I need legal advice about pensions?
Pensions are your means of support for you and your family on your retirement. It is very important that you understand your pension arrangements and that you are getting the most out of your pension. Pensions can be extraordinarily complicated: the law relating to pensions, the tax issues and rules associated with pensions are complex.
The basis on which pensions are paid is changing. There has been a general shift from “defined benefit” (DB) schemes (which may be based, for example, on your final salary prior to retirement) to “defined contribution” (DC) schemes. Individuals are being told that they have to contribute more to their pension scheme and that they can only claim their pension at an older age. Pension funds are faced with greater liabilities and a shortfall of funds. Many people are on public sector pension schemes, which are also going through changes as the government addresses a combination of a budget deficit and increasing pension liabilities.
Businesses and pension providers are having to deal with a wide range of pension issues on which they need good advice. Such issues include: auto-enrolment; scheme amendments; pension consultation; pension warranties and agreements; and asset-backed pension schemes, among others.
Trustees of pension schemes are faced with a complex legal and regulatory environment on which they need to be well advised.
There are certain tax benefits available to pension contributions, but also tax implications arising from lump sums and regular income.
What should I do if I have a dispute relating to my pension?
Because pensions are both important and complex, there may be areas where you are in dispute about your pension, such as your entitlement to benefits and the interpretation of pension scheme rules. You may be in a position where your employers or pension scheme administrators have been negligent in the advice they have given you about your pension. There are established procedures for complaining to the Pensions Ombudsman, which is a government-appointed body set up specifically to deal with complaints.
If you are in dispute about your pension, or feel that you have been wrongly advised, myBarrister put you in touch with an expert barrister who will be able to advise you on where you stand and the courses of action open to you.
Why should I choose a barrister?
Whether you are an individual needing advice on the legal aspects of your pension, or a business requiring legal expertise on pension schemes, or a trustee of a pension scheme looking for expert legal advice on your duties and obligations, a barrister expert in pensions is your best adviser. Barristers are experts in the law, are best placed to advise on the right course of action and will argue your case to the highest standard in any tribunal or court.
Who is the best barrister for me?
If you need expert advice on your pension, choose a barrister on myBarrister. Barristers will provide you with guidance so you that you know where you stand and can take the right decisions about what to do next. We can put you in touch with a barrister who can advise you on any proceedings that you need to take or defend.