Jurisdiction(s):
United Kingdom

Occupational pension scheme powers: trustees versus sponsoring employer—checklist of decision rights, required consents/consultations and constraints across amendment, wind-up, accrual closure, benefits, funding, transfers, surplus and trustee appointments.

Published by a LexisNexis Pensions expert

Checklists

POWER CLAUSE / RULE HELD BY REQUIRES AGREEMENT OR CONSULTATION WITH SUBJECT TO

Authority to amend; to wind the scheme up or delay winding-up; to cease future benefit accrual; to shut to new joiners; to readmit employees to membership of the scheme
Discretion to set the employer contribution rate; to lower or suspend contributions; to apportion statutory debts
Ability to enhance or vary benefits; to permit early retirement pensions and set actuarial reductions; to allow incapacity pensions, decide whether a member meets the incapacity definition, and reduce or pause such pensions; to grant pensions for serious ill-health; to apply actuarial uplifts for late retirement; to fix the rate at which pension is exchanged for a lump sum; to commute trivial pensions; to provide a bridging pension; to award discretionary increases to pensions; to make unauthorised payments
Capacity to admit new employers or end their participation; to replace the principal employer; to transfer members’ benefits into or out of the scheme
Authority to return surplus to the employer while the scheme continues or on winding-up; to buy out members’ benefits
Authority to appoint or remove trustees; to delegate trustees’ powers; to purchase insurance for trustees...

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Web page updated on 20/05/2026

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