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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...
The purpose of the notifiable events regime is to assist TPR in reducing the risks of situations arising that may lead to calls on the PPF. When an event is notified to TPR, it is intended to serve as an early warning mechanism of...
The PIP is the period used to assess annual increases in the value of members’ benefits for testing against the annual allowance (AA). Increases are measured against the AA for the tax year in which the PIP ends and, to the extent...
Section 67 of the PA95 applies whenever a power to modify an occupational pension scheme is exercised to make a change (known as a “regulated modification”) which would or might adversely affect a member’s subsisting rights. ...
What is a Statement of Investment Principles? A SIP is a written statement governing decisions about investments for the purposes of an occupational pension scheme. Who is responsible for the SIP? Trustees of most occupational schemes must...
On a transfer of a business, the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE) often applies. Its effect is to provide that obligations of the old employer are transferred to the new employer as though the...
