Monthly Archives: September 2017


26

Sep 2017

IRN’s 2017 Personal Injury Market Report Published – No Silver Lining for the Sector

The UK Personal Injury Market Briefing 2017 is the fourth edition of an annual Legal Market Briefing from IRN Research. The personal injury market, including clinical negligence, is a large market, worth almost £4bn annually but while it is still growing modestly in value terms, it is declining in volume terms. The rise in value represents a major rise in the value of clinical negligence...

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Deficit of defined benefit pension funds over £220 billion

13

Sep 2017

Deficit of defined benefit pension funds over £220 billion

Deficit of defined benefit funds at £220bn in August 2017 Data from the Pension Protection Fund (PPF) shows that of the aggregate deficit of defined benefit pension funds in the UK reached £220.4 billion in August 2017, compared with £180.1 billion at the end of July 2017. However, the deficit is much smaller than the £413.1 billion deficit seen in August 2016. This is based...

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The democratisation of pensions as auto enrolment reaches 8.5 million

12

Sep 2017

The democratisation of pensions as auto enrolment reaches 8.5 million

Almost 80% of eligible employees auto enrolled Auto enrolment (AE) has led to a dramatic change in the UK pension landscape. Data from the Pension Regulator shows that by August 2017, 8.527 million employees had been auto enrolled into pensions. Since the auto enrolment reforms were introduced in 2012, the overall proportion of all employees saving into a workplace pension has increased from 47% to...

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08

Sep 2017

Ogden Rate Changed Again

Ogden Rate to be increased The Government has announced that it is to change the Ogden Rate, the rate used by UK courts in the calculation of personal injury (PI) lump sum settlements for serious injuries or death in a PI claim. In February 2017, the Government had announced a reduction in the Rate from 2.5% to minus 0.75% with effect from 20 March 2017,...

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05

Sep 2017

IRN Add Pension Flexibility Data to the Pension Dashboard

Pension Dashboard improved with new Pension Flexibility Data   New Pension Flexibility data From today, the IRN Pension Dashboard contains data on pension withdrawals made under the pension flexibility rules. Since April 2015, individuals aged 55 and over can access their defined contribution pension savings as they wish, subject to their marginal rate of income tax. The HMRC data shows the number of flexible payments...

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