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ARTICLE · 15 JANUARY 2021

The Pensions Brief: December 2020

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Please see the latest issue of the Pensions Brief.

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Richard Evans
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Beth Brown
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George Carr
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Issues affecting all schemes

Brexit and the end of the transition period

On 24 December 2020 it was announced that the United Kingdom and European Union had reached an agreement, in principle, outlining the basis for the ongoing relationship between the UK and EU following the end of the Brexit transition period on 31 December 2020.

The House of Commons has published a briefing paper in connection with Brexit and the end of the transition period. This paper focuses on Brexit and private pensions and reminds UK nationals in the EEA or Switzerland of the UK Government's guidance which advises individuals in receipt of a pension to check with their pension provider to make sure they can still get payments following the UK leaving the EU. The briefing paper also emphasises that UK law allows for workplace pensions to be paid overseas and the UK Government does not expect this to change after Brexit.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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