Keeping EU cross-border conscious


Since 30 December 2005, a UK pension scheme has needed to have prior authorisation and approval from the Pensions Regulator to operate as a cross-border scheme. Designation as cross-border brings with it a fairly onerous requirement to be “fully funded at all times” (namely, meet the statutory funding objective), together with additional compliance requirements. It is therefore vital that employers and trustees of occupational pension schemes keep cross-border conscious (to avoid being caught inadvertently cross-border).

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