De-registration (Pensions) meaning

This Checklist This Checklist provides points to weigh up when preparing and seeking sign-off for a company voluntary arrangement (CVA) involving the Pension Protection Fund (PPF). It draws on PPF Guidance Note 5 issued in 2018 (see PPF Guidance Note 5: CVAs). When an employing company (or all participating employers in a last man standing scheme) files a CVA proposal with the court, a PPF assessment period begins. Under section 137 of the Pensions Act 2004, the PPF assumes the pension trustees’ voting entitlement (see Practice Note: The Pension Protection Fund—eligibility and entry). In practice, the PPF will typically cast a vote for or against the proposal rather than refrain. The PPF is consistently focused on avoiding any precedent that might allow pension schemes to be diluted where potential PPF entry could arise in the near future (the PPF observes that this has occurred in numerous prior CVAs). The PPF also anticipates that pension trustees will appoint their financial advisers to produce a report addressing the areas of concern...

Planning of merger Secure an 'in principle' commitment from the trustees and employers of both the transferring and receiving schemes to proceed with the merger. Examine the governing provisions for each scheme to verify that the transfer of assets, liabilities and members can take place; amend those provisions where necessary and practical. Confirm whether the schemes' benefit structures align and are compatible. Assess if the contracted-out status of either scheme creates any issues. Review the funding positions of both schemes and obtain actuarial advice; determine whether an employer top-up contribution is required. ...

Under the Finance Act 2004 (FA 2004) and its associated regulations, payments made by a registered pension scheme to, or on behalf of, a member or an employer are categorised as either: authorised payments unauthorised payments Any payment that is not an authorised payment will be treated as unauthorised, unless it falls within a statutory exception; moreover, certain types of payment are expressly identified as unauthorised. Unauthorised payments—consequences Subject to their own rules, registered pension schemes may make unauthorised payments Unauthorised payments typically trigger tax charges for both the recipient and the scheme, and can in the end result in de-registration, causing the loss of the scheme’s tax-privileged status Reporting obligations apply to schemes where unauthorised payments have occurred Benefits offered under registered pension schemes are generally designed to prevent unauthorised payments arising...

In this issue: Investigating criminal conduct Criminal procedure and evidence Sentencing Bribery, corruption, sanctions and export controls Consumer protection and cartels Environmental offences Financial services and pensions offences Fraud, forgery, tax and theft offences Health and safety and corporate manslaughter offences Local authority prosecutions Money laundering International Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Investigating criminal conduct Refusal to repurpose evidence in civil proceedings for criminal charging decision (WFZ v British Broadcasting Corp) The High Court has recently clarified the circumstances in which a party will be permitted to rely on witness statements outside the proceedings in which they were first served. In ongoing injunction proceedings aimed at stopping publication of a BBC investigative report into sexual abuse allegations, the court determined that the accused could not use sensitive excerpts from that report in representations to the...

The panel of justices at the appellate court decided, in a unanimous opinion, that the effort by the BBC to reduce its rising costs in the BBC Pension Scheme (the Scheme) undermined the interests of its members. The dispute focused on interpreting a provision within the Scheme’s governing deeds, which safeguards members from changes impinging on their ‘interests’. Justice Kim Lewison observed that, when considering if an active member possesses an interest in the particular elements of the benefit design challenged in the claim form, his conclusion—mirroring the judge’s—was affirmative. The case was closely fought over this point of construction within the Scheme’s legal deeds in question...

In this issue: Budgets and Finance Bills UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Family businesses and ownership structures Contentious trusts and estates Pensions, insurance and tax efficient investments International Question of the week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Trackers Latest Q&As Useful information Budgets and Finance Bills Finance Bill 2026 published Finance (No 2) Bill 2024–26 was released on 4 December 2025 with explanatory notes. Also known as Finance Bill 2026 (FB 2026), it was presented in the House of Commons and received its first reading on 2 December 2025. For insights into the principal Private Client measures in FB 2026, see News Analysis: Private Client—publication of Finance Bill 2026. For commentary on the key Tax provisions, see News Analysis: Tax—publication of Finance Bill 2026. For comprehensive tracking of FB 2026—covering a...

The legislative framework The Pension Schemes Act 2017 The Pension Schemes Act 2017 (PSA 2017) is designed to strengthen safeguards for members of master trusts by tightening oversight of master trusts and addressing risk areas inherent in the master trust model when set beside other occupational pension schemes (such as profit-driven objectives, large cohorts of disengaged savers, and the potential jeopardy to pension pots if a master trust collapses). In summary, from 1 October 2018: master trusts must secure authorisation from the Pensions Regulator to operate as a master trust (with existing master trusts given until 31 March 2019 to submit an authorisation application, subject to any extension of the deadline granted by the Pensions Regulator). Five conditions must be met before the Pensions Regulator will grant authorisation—see: Authorisation criteria, below the Pensions Regulator has responsibility for the ongoing supervision of master trusts—see: Ongoing supervision and The Pensions Regulator’s proposed approach to supervision and enforcement, below master trusts must identify and manage ‘triggering...

This Practice Note concentrates on the matters that applied prior to 6 April 2016—the date on which salary-related contracting-out (often called DB contracting-out) was brought to an end—when buying out these contracted-out salary-related (COSR) entitlements: guaranteed minimum pensions (GMPs)—the benefits built up by COSR scheme members as a result of contracting out between 6 April 1978 and 5 April 1997 Section 9(2B) rights (also referred to as post-1997 COSR rights)—the benefits accrued by COSR scheme members as a result of contracting out between 6 April 1997 and 5 April 2016 The legislative requirements that applied differed according to whether the relevant contracted-out rights were GMPs or Section 9(2B) rights. For guidance on the buy-out considerations from 6 April 2016 for Section 9(2B) rights and GMPs, see Practice Note: Buying out Section 9(2B) rights and GMPs from 6 April 2016. For general issues relating to buy-outs, see Practice Note: De-risking—pension buy-outs and buy-ins. For information on the ending of DB contracting-out on 6 April...

Employment laws in the Republic of Ireland, Great Britain and Northern Ireland have much in common, as all operate within common law systems and many contemporary employment statutes flow from European Directives. Even so, divergences do exist and are likely to widen. This Practice Note outlines several distinctions between Great Britain and the Republic of Ireland. Care is advised when handling matters in Northern Ireland, where the framework is becoming increasingly distinct from Great Britain. For details on the differences between Great Britain and Northern Ireland, see Practice Note: Northern Ireland employment law. Main areas of difference employment status categories leave entitlements qualifying period and remedies under unfair dismissals legislation redundancy entitlements protected conversations and settlement agreements employment tribunal procedures transfers of undertakings (TUPE) immigration Categories of employment status In the Republic of Ireland, individuals engaged in work are typically classified as either ‘employees’ or ‘independent contractors’. There is no...

This Agreement is dated [ insert date— note that admission agreements may now commence prior to the execution date and, where appropriate, take effect from an earlier date ]. Parties [ insert full name of Administering Authority ] (the ‘Administering Authority’); [ insert full name of Scheme Employer ] (the ‘Scheme Employer’); [ insert full name of Admission Body ], a company incorporated in England (company registration no. [ insert number ]) with its registered office at [ insert registered company address ] (the ‘Admission Body’). Background [ insert full name of Administering Authority ] acts as the Administering Authority of the [ insert full name of pension scheme ] in accordance with the Regulations as in force. The Scheme Employer is a scheme employer within the meaning given by the Regulations. From the Contract Start Date, the Admission Body shall deliver the Services in relation to the performance of a function of the Scheme Employer...

This llp Agreement is dated [ insert date and month ] 20[ insert year ] Parties The persons identified in Part A of Schedule 1 ( Initial Members ); and [ insert name ] LLP, a limited liability partnership (registration number OC [ insert number ]), whose registered office is at [ insert address ] ( LLP ). background [ The LLP was formed under the Act on [ insert date ]. OR The Initial Members plan to incorporate the LLP under the Act on, or immediately following, the date of this agreement. ] The Initial Members enter into this agreement to define the LLP’s internal arrangements and to set out their respective rights, obligations and duties in relation to the LLP...

Please review this privacy notice carefully, as it sets out important and relevant details about who we are, what personal data (information) we hold about you, the reasons and ways in which we collect, store and use it, how we may share that information with others, and your rights in relation to your personal information. Who we are [ [ Insert name of trustee company ] OR We ], acting as trustees of the [ insert name of the pension scheme ] (the Scheme), collect, use and are responsible for certain personal information about you. In doing so, we are regulated by the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018. For the purposes of those laws, we act as ‘controllers’ of that personal information. As controllers, we are required to provide you with the information contained in this privacy notice. [ The [ Insert name of trustee company ] (company number [ Insert company registration number) ] has its registered office at...