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The scheme funding provisions contained in the PA04 require trustees to prepare a statement of funding principles (SFP) for ensuring, amongst other things, that the statutory funding objective (SFO) is met. The SFO requires a DB scheme to...
Under section 270 of the FA04, the scheme administrator is responsible for the tax affairs of the scheme and for ensuring that it complies with its tax obligations. To be appointed as a scheme administrator, a person or persons must be...
The UK implemented the age discrimination aspects of the EU Equal Treatment Directive with effect from 1 December 2006 in relation to pensions. The relevant provisions are now set out in the Equality Act 2010. The default retirement...
The default retirement age (DRA) of 65 was abolished from 1 October 2011. Introduced to tie in with the abolition of the DRA, the Employment Equality (Repeal of Retirement Age Provisions) Regulations 2011 allow employers to withdraw or...
The Pensions Act 2008 enhanced TPR’s anti-avoidance powers by enabling it to impose a contribution notice, in certain circumstances, where an act or failure to act has a materially detrimental effect on the likelihood of members’...
The Pensions Act 2008 enhanced TPR’s anti-avoidance powers by enabling it to impose a CN, in certain circumstances, where an act or failure to act has a materially detrimental effect on the likelihood of members’ benefits being...
In order to protect the benefits of pension scheme members and to ensure that pension liabilities are not avoided or unsupported, the PA04 gave TPR the power to issue: contribution notices (requiring payment to be made into a scheme);...
