Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Principal employer definition

What does Principal employer mean? In pensions practice, the principal employer is the participating employer named in a scheme’s trust deed and rules to exercise specified employer powers and to act as the main employer interface with the trustees. The role is usually defined by the scheme documentation rather than primary legislation. However, some pensions regulations in the UK and Ireland recognise a “principal employer” where identified in the rules, particularly in multi-employer schemes and employer debt arrangements (for example, UK section 75 employer debt apportionments). Typical powers and duties include appointing and removing trustees; proposing or consenting to deed and rule amendments; admitting or ceasing...

Share sales with DB multi-employer schemes where the target is principal employer: substitution, section 75 debts, statutory employer status, clearance, notifiable events and trustee changes

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Practice notes

THIS PRACTICE NOTE APPLIES IN RELATION TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMES

This Practice Note concentrates on matters that purchasers and vendors must address in a share sale when the target entity, or one of its subsidiaries, acts as the Principal employer of a multi-employer defined benefit (DB) scheme. In this Practice Note, mentions of the target company are to be read as including a subsidiary. For guidance on points that arise where the target (or one of its subsidiaries) participates as an employer in a multi-employer DB scheme, refer to Practice Note: Pension issues in share sales—where target is participating employer of DB multi-employer scheme...

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Web page updated on 21/05/2026

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