TKU: Basics
The TKU requirements came into force in April 2006 and are backed by TPR’s code of practice (and specific scope documents). Trustees need to be “conversant” with the scheme’s – trust deed and rules statement...
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The TKU requirements came into force in April 2006 and are backed by TPR’s code of practice (and specific scope documents). Trustees need to be “conversant” with the scheme’s – trust deed and rules statement...
Background An “occupational pension scheme” can only carry out activities which are “retirement-benefit activities” and provide death benefits if they are ancillary or supplemental to those activities. In summary, this...
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...
