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The Pensions Act 2004 Unless the circumstances in question are covered by legal privilege, a duty to give a written report to TPR arises where a person (a trustee, administrator, employer, professional adviser etc.) has reasonable cause...
Section 73 of the PA95 sets out the priority in which the assets of a DB scheme should be applied on a winding-up and provides a prescribed order for the application of scheme assets by reference to a series of classes of scheme...
The PPF was established by the PA04 with effect from April 2005. It is run by the Board of the PPF and funded by the payment of levies each year by all pension schemes potentially eligible for entry (for further information, please...
The PPF is funded by a system of levies which are paid by all schemes eligible to enter the PPF (broadly, DB occupational pension schemes). The most significant is the pension protection levy. Pension Protection Levy The pension...
Background TPR is the UK’s regulator of work-based pension schemes. It has the following objectives: protect the benefits of members of work-based pension schemes; promote and improve understanding of the good administration of...
Under the PA04 trustees must ensure that arrangements are in place to provide for at least one-third member nominated trustees (MNTs) or, where there is a corporate trustee, one-third member-nominated directors (MNDs) and that those...
Since 6 April 2010, individuals have generally had to wait until their 55th birthday before taking benefits (instead of age 50 as previously), unless they have an earlier protected pension age (see below) or their retirement is on...
