Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Employer debt definition

What does Employer debt mean? employer debt describes the sum a participating employer can become liable to pay to a defined benefit (DB) occupational pension scheme to cover a funding shortfall assessed on a buy‑out basis. In the UK, it is a statutory liability — the “section 75 debt” or “debt on the employer” — set by the Pensions Act 1995, ss 75–75A and the Occupational Pension Schemes (Employer Debt) Regulations 2005 (as amended) (with equivalent Northern Ireland legislation). It is typically triggered on scheme wind‑up, employer insolvency, an employment‑cessation event (where an employer ceases to employ active members in a multi‑employer...

Pensions in share sales: due diligence for DC and DB schemes, section 75 debts, TPR notifiable events and clearance, moral hazard and criminal offences—an introductory guide

Published by a LexisNexis Pensions expert

Practice notes

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FORTHCOMING DEVELOPMENT :

Under the Pension Schemes Act 2021, a secondary Notifiable events framework is being introduced (pursuant to section 69A of the Pensions Act 2004) designed to capture certain employer‑related notifiable events in relation to a DB scheme. The framework requires the trustees to be copied into their notification to the Pensions Regulator, and for both the trustees and the Regulator to receive an accompanying statement, also known as a declaration of intent, setting out and explaining the notifiable event and how any detriment to the scheme is to be mitigated. On 8 September 2021, the Department for Work and Pensions (DWP) published a consultation on draft regulations which, among other things, in particular, detail the types of events that will fall within the scope of the secondary notifiable events regime...

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Wyn Derbyshire

gunnercooke LLP

Wyn is a partner at gunnercooke LLP and specialises in pensions, trust and employment law in all industry sectors, dealing with the transactional, advisory and documentation aspects.He also has wide experience of the pensions implications of heavyweight corporate transactions and flotations, the issues arising from the establishment and merger of pension schemes, and sex equalisation and other discrimination issues in respect of benefits provided by pension schemes. In addition, he provides advice to pension scheme trustees generally.Recent transactions include advising Amcor on pension matters relating to the acquisition of Alcan business and the acquisition of Northern Foods PLC by Boparan Holdings.He is a co-author (with Stephen Hardy and Stephen Maffey) of TUPE: Law and Practice, published by Spiramus Press (now in its 4th edition), and co-author (with Stephen Hardy and David Wicks) of Money & Work, published by Spiramus Press in August 2007. He has also...

Web page updated on 21/05/2026

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