Pensions in the UK has become an enormously complex subject. The new tax regime which commenced in April 2006 was supposed to simplify the arrangements for pensions, but many consider that it is actually more complicated than what went before. As evidence, there are now thousands of pages of guidance rather than hundreds under the old pre 4/06 regime - not to mention all the problems which the transition itself has created. Meanwhile, on the DWP side, the flow of Acts and Regulations continues unabated with no end in sight. In this deluge, the Aries Pensions System has become the preferred tool for pensions providers, administrators and advisers who need to know what all this actually means in practice. Providing clearly written guidance on all aspects, including both new and old tax regimes, the DWP side, TPR codes of practice, pensions case law, anti-discrimination provisions and many other topics, it is uniquely placed to provide that critical element of support which is so sorely needed. But Aries is not just an expert technical information system. Beyond this, Aries has an experienced and skilled team who are continually researching and writing up the latest developments in pensions legislation and practice. Detailed reports are placed in the private part of the Aries website, and the team is directly accessible to Aries system users to consult on technical questions. Finally, Aries sits on the PSS Forum - where it channels the views of Aries users - and has regular contact with senior staff at HMRC and DWP. Outcomes and questions in process of discussion are fully and regularly reported to all Aries users. The aim is to flush out problems and ambiguities, and to work persistently for the adoption of practical solutions. If you are a professional man or woman working in UK pensions, and your job involves knowing about or dealing with the legislative framework in any way, the question must be - can you afford to do without Aries? To help you decide, here is a more detailed description of the system. Aries - Combining wide scope with fine detail Aries reaches all corners of the legislative minefield, and gives the key detail to guide you safely through. Here is a rundown of the main topics (not fully exhaustive) to give you the flavour. Aries provides expert guidance on: HMRC Aspects Lifetime Allowance, Annual Allowance and Benefit Crystallisation Events, along with other key aspects of the FA 2004 tax regime Enhanced, Primary and Scheme Specific Protection of pension & TFC rights as held on 5 April 2006 under the FA 2004 regime Effects of subsequent Finance Acts (2006, 07 & 08) Modification of Scheme Rules, and the relevant deadlines for change Rules for Unsecured and Alternatively Secured Pension Rights (USP & ASP) Types of permitted Death Benefit and LSDB, and how they should be handled The treatment of Protected Rights under the FA 2004 regime Transfers to Overseas Schemes, including the rules on Qualifying Recognised Overseas Pension Schemes (QROPS) Analysis of 15 other commonly encountered problem areas under FA 2004 regime DWP Aspects Requirements of Equal Treatment & Age Discrimination regulations Qualification detail & formal procedures for Pension Protection Fund & Financial Assistance Scheme Disclosure of Information including Statutory Money Purchase Illustrations Contracting Out and CA Forms Trusteeship under 1995 & 2004 Pensions Acts Pensions on Divorce - Earmarking & Pension Sharing Indexation of Deferred Pensions and Pensions in Payment Winding-up procedures Scheme Specific Material Occupational schemes: Defined benefit & Money purchase type Personal & Stakeholder pensions State scheme benefits & contributions Local Government Pension Scheme SIPPs & SSASs AVCs & FSAVCs Other pension arrangements: RACs, s32 Buyouts, etc Other Aspects Shorter, more readable summary of RPSM guidance Guide to Pension SIs (over 450 SIs included) Case Law - summary of 200+ cases relevant to pensions RPI, 15-yr Gilt Yield, Revaluation Orders and other statistics relevant for pensions Glossary of Terminology (over 1,000 entries) List of commonly used Abbreviations Document Library includes Full text of RPSM (Registered Pension Schemes Manual) TPR Codes of Practice: Reporting Breaches, Notifiable Events, etc DWP CA Manuals Revenue Practice & Guidance Notes for pre April 06 period TM1 for Statutory Money Purchase Illustrations JOM 78 on Preservation & JOM 77 on Contracting Out S.226 LOA Practice Notes IL2 on Insolvency of Employers HMRC's Scheme Administrator Factsheet Aries offers a fully searchable copy of the RPSM Guidance Ease of Use Aries has a set of easy-to-use menus which quickly take the user to the subject area of interest. The top level menus are classified as: FA 2004 Regime; OPS & PP Schemes; Other Scheme Types; Reference; Document Library. Then lower level menus lead on to the required textual guidance. There is also a full word search facility (keyword-in-context), which can be applied across chosen sections of the text, or across the whole system if required. Referential Support Aries backs up the text by copious references to authoritative sources, including Acts, SIs, RPSM, IR12, IR76, CA Manuals and TPR Codes of Practice, etc. Industry newsletters, circulars and other pensions technical sources are also referred to as appropriate. Pension Calculations Besides all this guidance, the Aries Pensions System also provides calculations under the FA 2004 pensions tax regime, including protection of pre A-Day benefits. Extensive on-screen help is provided. Users are enabled to: check Revenue Maximum Benefits as at 5 April 2006 test for availability of Primary and/or Enhanced Protection identify TFC rights exceeding 25% at 5.4.06, for scheme specific protection optimise TFC over money purchase and defined benefit arrangements project the Standard Lifetime Allowance beyond 2010/11 analyse LTA position and maximum cash for post April 06 vesting events The Revenue Maximum Benefits calculations, still essential for the 5 April 06 check, cover pension & TFC for Pre-87, 87-89 & Post-89 members. They enable calculation of Final Remuneration from earnings data and show the effect of Retained Benefits. Special limits for money purchase schemes are covered, also the indexation of deferred benefits for pre-April 06 scheme leavers. For all calculations a print-out shows a step-by-step explanation of how the calculation has been performed - an invaluable audit trail for verification and compliance purposes. Straightforward System Requirements The system runs under Windows (any version from W95 onwards). It requires space of approx 50Mb on the hard drive. It is easy to set up, and runs well on ordinary PCs and/or networks. There are no special requirements. Same day technical support is provided within the licensing fee. Emphasis on keeping the System up-to-date A crucial point - pensions regulation is an active field. The government and other regulatory bodies do not rest in their efforts to perfect the UK pensions framework. But they never quite seem to finish the job, so everyone has to work hard to keep up-to-date. To reflect this pace, the Aries system is revised and reissued every two months, with new versions placed on our secure website for downloading by users. Downloading and installation to the target machine is a simple process, needing only a few minutes. The system is also available on CD if required. Meanwhile, users are kept up to date with every breaking development in pensions legislation - and what is on the horizon - via articles on the Aries website, the industry's leading site for pensions technical information. Users particularly value the password-protected Discussion Zone, where they can exchange views on the problems they face in putting the legislation to practical effect. Taking Part - Aries Club Meetings Aries was established nearly 20 years ago, and grew through close co-operation with a group of experts in leading pension companies. This co-operative approach continues to the present day, and is reflected in our Club meetings. These take place regularly five times a year, and give the opportunity to discuss technical aspects of pensions with like minded people from the industry in a friendly and informal setting. During the meetings, we report fully on the latest developments in the field, and the progress of work on the Aries system is monitored. New users for Aries are welcome to attend the meetings, and in this way can help guide the system's future direction.