Pensions Act 2004
Sections and provisions with full text and the judgments that cite each one.
Section 39B — Section 39A: supplemental
Section 39A: supplemental 39B 1 In section 39A a “ transferee scheme ”, in relation to any time, means any work-based pension scheme— a to which the accrued rights of at least two persons who were…
Section 40 — Content and effect of a section 38 contribution notice
Content and effect of a section 38 contribution notice 40 1 This section applies where a contribution notice is issued to a person under section 38. 2 The contribution notice must— a contain a…
Section 41 — Section 38 contribution notice: relationship with employer debt
Section 38 contribution notice: relationship with employer debt 41 1 This section applies where a contribution notice is issued to a person (“P”) under section 38 and condition A or B is met. 2…
Section 42 — Section 38 contribution notice: clearance statements
Section 38 contribution notice: clearance statements 42 1 An application may be made to the Regulator under this section for the issue of a clearance statement within paragraph (a), (b) or (c) of…
Section 42A — Offence of failing to comply with a section 38 contribution notice
Offence of failing to comply with a section 38 contribution notice 42A 1 This section applies where a contribution notice is issued to a person under section 38. 2 If the person, without reasonable…
Section 42B — Financial penalty for failure to comply with a section 38 contribution notice
Financial penalty for failure to comply with a section 38 contribution notice 42B 1 This section applies where a contribution notice is issued to a person under section 38. 2 Section 88A (financial…
Section 43 — Financial support directions
Financial support directions 43 1 This section applies in relation to an occupational pension scheme other than— a a money purchase scheme, or b a prescribed scheme or a scheme of a prescribed…
Section 43A — Financial support directions: transfer of members of the scheme
Financial support directions: transfer of members of the scheme 43A 1 This section applies where— a the Regulator is of the opinion by reference to any time that the conditions in section 43 for…
Section 43B — Section 43A: supplemental
Section 43A: supplemental 43B 1 In section 43A a “ transferee scheme ”, in relation to any time, means any work-based pension scheme— a to which the accrued rights of at least two persons who were…
Section 44 — Meaning of “service company” and “insufficiently resourced”
Meaning of “service company” and “insufficiently resourced” 44 1 This section applies for the purposes of section 43 (financial support directions). 2 An employer (“E”) is a “ service company ” at…
Section 45 — Meaning of “financial support”
Meaning of “financial support” 45 1 For the purposes of section 43 (financial support directions), “ financial support ” for a scheme means one or more of the arrangements falling within subsection…
Section 46 — Financial support directions: clearance statements
Financial support directions: clearance statements 46 1 An application may be made to the Regulator under this section for the issue of a clearance statement within paragraph (a), (b) or (c) of…
Section 47 — Contribution notices where non-compliance with financial support direction
Contribution notices where non-compliance with financial support direction 47 1 This section applies where there is non-compliance with a financial support direction issued in relation to a scheme…
Section 48 — The sum specified in a section 47 contribution notice
The sum specified in a section 47 contribution notice 48 1 The sum specified by the Regulator in a contribution notice under section 47 may be either the whole or a specified part of the shortfall…
Section 49 — Content and effect of a section 47 contribution notice
Content and effect of a section 47 contribution notice 49 1 This section applies where a contribution notice is issued to a person under section 47. 2 The contribution notice must— a contain a…
Section 50 — Section 47 contribution notice: relationship with employer debt
Section 47 contribution notice: relationship with employer debt 50 1 This section applies where a contribution notice is issued to a person (“P”) under section 47 and condition A or B is met. 2…
Section 50A — Meaning of “person with an interest in the scheme”
Meaning of “person with an interest in the scheme” 50A 1 For the purposes of section 50 a person is a person with an interest in an occupational pension scheme if— a he is a member of the scheme, b…
Section 50B — The dispute resolution procedure
The dispute resolution procedure 50B 1 The procedure provided for by the dispute resolution arrangements in pursuance of section 50(4) must (in accordance with section 50(6)) include the following…
Section 51 — Sections 43 to 50: interpretation
Sections 43 to 50: interpretation 51 1 In sections 43 to 50— “ group of companies ” means a holding company and its subsidiaries (and references to a member of a group of companies are to be read…
Section 51ZA — Meaning of “the appropriate percentage”
Meaning of “the appropriate percentage” 51ZA 1 For the purposes of section 51(1)(c) and (2), “ the appropriate percentage ” in relation to an increase in the whole or part of the annual rate of a…
Section 52 — Restoration orders where transactions at an undervalue
Restoration orders where transactions at an undervalue 52 1 This section applies in relation to an occupational pension scheme other than— a a money purchase scheme, or b a prescribed scheme or a…
Section 53 — Restoration orders: supplementary
Restoration orders: supplementary 53 1 This section applies in relation to a restoration order under section 52 in respect of a transaction involving assets of a scheme (“the transaction”). 2 The…
Section 54 — Content and effect of a restoration order
Content and effect of a restoration order 54 1 This section applies where a restoration order is made under section 52 in respect of a transaction involving assets of a scheme. 2 Where the…
Section 55 — Contribution notice where failure to comply with restoration order
Contribution notice where failure to comply with restoration order 55 1 This section applies where— a a restoration order is made under section 52 in respect of a transaction involving assets of a…
Section 55C — Pension increase or lump sum where entitlement to shared additional pension is deferred
Pension increase or lump sum where entitlement to shared additional pension is deferred 55C 1 Where a person’s entitlement to a shared additional pension is deferred, Schedule 5A to this Act has…
Section 56 — Content and effect of a section 55 contribution notice
Content and effect of a section 55 contribution notice 56 1 This section applies where a contribution notice is issued to a person under section 55. 2 The contribution notice must— a contain a…
Section 57 — Sections 38 to 56: partnerships and limited liability partnerships
Sections 38 to 56: partnerships and limited liability partnerships 57 1 For the purposes of any of sections 38 to 56, regulations may modify any of the definitions mentioned in subsection (2) (as…
Section 58 — Regulator’s right to apply under section 423 of Insolvency Act 1986
Regulator’s right to apply under section 423 of Insolvency Act 1986 58 1 In this section “ section 423 ” means section 423 of the Insolvency Act 1986 (transactions defrauding creditors). 2 The…
Section 58A — Offence of avoidance of employer debt
Offence of avoidance of employer debt 58A 1 This section applies in relation to an occupational pension scheme other than— a a money purchase scheme, or b a prescribed scheme or a scheme of a…
Section 58B — Offence of conduct risking accrued scheme benefits
Offence of conduct risking accrued scheme benefits 58B 1 This section applies in relation to an occupational pension scheme other than— a a money purchase scheme, or b a prescribed scheme or a scheme…
Section 58C — Financial penalty for avoidance of employer debt
Financial penalty for avoidance of employer debt 58C 1 This section applies in relation to an occupational pension scheme other than— a a money purchase scheme, or b a prescribed scheme or a scheme…
Section 58D — Financial penalty for conduct risking accrued scheme benefits
Financial penalty for conduct risking accrued scheme benefits 58D 1 This section applies in relation to an occupational pension scheme other than— a a money purchase scheme, or b a prescribed scheme…
Section 59 — Register of occupational and personal pension schemes
Register of occupational and personal pension schemes 59 1 The Regulator must compile and maintain a register of occupational pension schemes and personal pension schemes which are, or have been,…
Section 60 — Registrable information
Registrable information 60 1 For the purposes of sections 59 to 65 “ registrable information ”, in relation to an occupational or personal pension scheme, means information within subsection (2). 2…
Section 61 — The register: inspection, provision of information and reports etc
The register: inspection, provision of information and reports etc 61 1 Regulations may provide— a for— i information recorded in the register, ii extracts from the register, or iii copies of the…
Section 62 — The register: duties of trustees or managers
The register: duties of trustees or managers 62 1 Subsection (2) applies where— a a registrable scheme is established, or b an occupational or personal pension scheme otherwise becomes a registrable…
Section 63 — Duty of the Regulator to issue scheme return notices
Duty of the Regulator to issue scheme return notices 63 1 The Regulator must issue scheme return notices in accordance with this section requiring scheme returns to be provided in respect of…
Section 64 — Duty of trustees or managers to provide scheme return
Duty of trustees or managers to provide scheme return 64 1 The trustees or managers of a registrable scheme in respect of which a scheme return notice is issued must, on or before the return date,…
Section 65 — Scheme returns: supplementary
Scheme returns: supplementary 65 1 This section has effect for the purposes of sections 63 and 64. 2 In those sections and this section, in relation to a scheme return notice— “ return date ” means…
Section 66 — Register of prohibited trustees
Register of prohibited trustees 66 1 The Regulator must keep in such manner as it thinks fit a register (“ the prohibition register ”) of— a all persons who are prohibited under section 3 of the…
Section 67 — Accessibility of register of prohibited trustees
Accessibility of register of prohibited trustees 67 1 The Regulator must make arrangements to secure that the prohibition register is open, during its normal working hours, for inspection in person…
Section 67A — The subsisting rights provisions: interpretation
The subsisting rights provisions: interpretation 67A 1 In the subsisting rights provisions, each of the following expressions has the meaning given to it by the following provisions of this section—…
Section 67B — The consent requirements
The consent requirements 67B 1 References in the subsisting rights provisions to the consent requirements, in respect of a regulated modification, are to be read in accordance with this section. 2…
Section 67C — The actuarial equivalence requirements
The actuarial equivalence requirements 67C 1 References in the subsisting rights provisions to the actuarial equivalence requirements, in respect of a detrimental modification which is not a…
Section 67D — The actuarial equivalence requirements: further provisions
The actuarial equivalence requirements: further provisions 67D 1 This section applies for the purposes of section 67C. 2 Where— a the information requirement has been satisfied in the case of an…
Section 67E — The trustee approval requirement
The trustee approval requirement 67E 1 For the purposes of section 67(2)(b), the trustee approval requirement is satisfied in relation to the exercise of a power to make a regulated modification if—…
Section 67F — The reporting requirement
The reporting requirement 67F 1 For the purposes of section 67(2)(c), the reporting requirement is satisfied in relation to the exercise of a power to which the subsisting rights provisions apply to…
Section 67G — Powers of the Authority: voidable modifications
Powers of the Authority: voidable modifications 67G 1 Subsection (2) applies in relation to a regulated modification made in exercise of a power to which the subsisting rights provisions apply which…
Section 67H — Powers of the Authority to intervene
Powers of the Authority to intervene 67H 1 Subsection (2) applies where the Authority have reasonable grounds to believe that a power to which the subsisting rights provisions apply— a will be…
Section 67I — Subsisting rights provisions: civil penalties
Subsisting rights provisions: civil penalties 67I 1 Subsections (2) and (3) apply where a regulated modification is voidable by virtue of section 67(2). 2 Where the modification was made by the…