News

Find out what’s happening at Sackers. Our News section provides information about recent work, press comment and media coverage, and what our people are doing.

Latest News

Employer Debt: Basics

Under section 75 and section 75A of the PA95, where the value at the trigger time of a DB scheme’s assets is less than a scheme’s liabilities (both calculated on a prescribed basis), the amount equal to the difference is...

Employer Debt: Employment Cessation Events

A debt calculation is triggered when an employer has ceased to employ at least one person who is an active member of the scheme, and at least one other employer (who is not an employer who employs only members with DC benefits) continues...

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...

Life Cover Only Members: Basics

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...

Whistleblowing essentials

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...

Winding-up priority order essentials

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...

PPF: Basics

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...