Pensions Act 2004
Sections and provisions with full text and the judgments that cite each one.
Section 187 — Board’s powers to make fraud compensation transfer payments
Board’s powers to make fraud compensation transfer payments 187 1 This section applies where— a the Board assumes responsibility for a scheme in accordance with Chapter 3, b the value of the assets…
Section 188 — Fraud Compensation Fund
Fraud Compensation Fund 188 1 The Fraud Compensation Fund shall consist of— a any property and rights transferred under section 302 (dissolution of the Pensions Compensation Board) which the Board…
Section 189 — Fraud compensation levy
Fraud compensation levy 189 1 For the purposes of meeting expenditure payable out of the Fraud Compensation Fund, regulations may provide for the imposition of a levy (“fraud compensation levy”) in…
Section 190 — Information to be provided to the Board etc
Information to be provided to the Board etc 190 1 Regulations may require such persons as may be prescribed to provide— a to the Board, or b to a person— i with whom the Board has made arrangements…
Section 191 — Notices requiring provision of information
Notices requiring provision of information 191 1 Any person to whom subsection (3) applies may be required by a notice in writing to produce any document, or provide any other information, which is—…
Section 192 — Entry of premises
Entry of premises 192 1 An appointed person may, for the purpose of enabling or facilitating the performance of any function of the Board in relation to an occupational pension scheme, at any…
Section 193 — Penalties relating to sections 191 and 192
Penalties relating to sections 191 and 192 193 1 A person who, without reasonable excuse, neglects or refuses to provide information or produce a document when required to do so under section 191 is…
Section 194 — Warrants
Warrants 194 1 A justice of the peace may issue a warrant under this section if satisfied on information on oath given by or on behalf of the Board that there are reasonable grounds for believing— a…
Section 195 — Offence of providing false or misleading information to the Board
Offence of providing false or misleading information to the Board 195 1 Any person who knowingly or recklessly provides information which is false or misleading in a material particular is guilty of…
Section 196 — Use of information
Use of information 196 Information held by the Board in the exercise of any of its functions may be used by the Board for the purposes of, or for any purpose connected with or incidental to, the…
Section 197 — Restricted information
Restricted information 197 1 Restricted information must not be disclosed— a by the Board, or b by any person who receives the information directly or indirectly from the Board. 2 Subsection (1) is…
Section 198 — Disclosure for facilitating exercise of functions by the Board
Disclosure for facilitating exercise of functions by the Board 198 1 Section 197 does not preclude the disclosure of restricted information in any case in which disclosure is for the purpose of…
Section 199 — Disclosure for facilitating exercise of functions by the Regulator
Disclosure for facilitating exercise of functions by the Regulator 199 Section 197 does not preclude the disclosure of restricted information in any case in which disclosure is for the purpose of…
Section 200 — Disclosure for facilitating exercise of functions by other supervisory authorities
Disclosure for facilitating exercise of functions by other supervisory authorities 200 1 Section 197 does not preclude the disclosure by the Board of restricted information to any person specified in…
Section 201 — Other permitted disclosures
Other permitted disclosures 201 1 Section 197 does not preclude the disclosure by the Board of restricted information to— a the Secretary of State, b the Commissioners of Inland Revenue or their…
Section 202 — Tax information
Tax information 202 1 This section applies to information held by any person in the exercise of tax functions about any matter which is relevant, for the purposes of those functions, to tax or duty…
Section 203 — Provision of informationto members of schemes etc
Provision of informationto members of schemes etc 203 1 Regulations may— a require the Board to provide information of prescribed descriptions to such persons as may be prescribed at prescribed times…
Section 204 — Sections 190 to 203: interpretation
Sections 190 to 203: interpretation 204 1 This section applies for the purposes of sections 190 to 203. 2 “ Document ” includes information recorded in any form, and any reference to production of a…
Section 205 — Publishing reports etc
Publishing reports etc 205 1 The Board may, if it considers it appropriate to do so in any particular case, publish a report of the exercise of, or any matter arising out of or connected with the…
Section 206 — Meaning of “reviewable matters”
Meaning of “reviewable matters” 206 1 For the purposes of this Chapter, “ reviewable matter ” means a matter mentioned in Schedule 9. 2 Regulations may provide, in relation to any reference in that…
Section 207 — Review and reconsideration by the Board of reviewable matters
Review and reconsideration by the Board of reviewable matters 207 1 Regulations must— a provide for the Board, on the written application of an interested person, to give a decision (“a review…
Section 208 — Investigation by the Board of complaints of maladministration
Investigation by the Board of complaints of maladministration 208 1 Regulations must make provision for dealing with relevant complaints. 2 For the purposes of this Chapter, “ relevant complaint ”…
Section 209 — The Ombudsman for the Board of the Pension Protection Fund
The Ombudsman for the Board of the Pension Protection Fund 209 1 There is to be a commissioner to be known as the Ombudsman for the Board of the Pension Protection Fund (in this Act referred to as “…
Section 210 — Deputy PPF Ombudsmen
Deputy PPF Ombudsmen 210 1 The Secretary of State may appoint one or more persons to act as a deputy to the PPF Ombudsman (in this Chapter referred to as “ a Deputy PPF Ombudsman ”). 2 Any such…
Section 211 — Status etc of the PPF Ombudsman and deputies
Status etc of the PPF Ombudsman and deputies 211 1 In Part 3 of Schedule 1 to the House of Commons Disqualification Act 1975 (c. 24) (other disqualifying offices), at the appropriate place insert— “…
Section 212 — Annual reports to Secretary of State
Annual reports to Secretary of State 212 1 The PPF Ombudsman must prepare a report on the discharge of his functions for each financial year. 2 The PPF Ombudsman must send each report to the…
Section 212A — Accounts and audit
Accounts and audit 212A 1 As soon as is reasonably practicable, the PPF Ombudsman shall send to the Comptroller and Auditor General a statement of the PPF Ombudsman’s accounts in respect of a…
Section 213 — Reference of reviewable matter to the PPF Ombudsman
Reference of reviewable matter to the PPF Ombudsman 213 1 Regulations must make provision— a for a reviewable matter to be referred to the PPF Ombudsman following a reconsideration decision under…
Section 214 — Investigation by PPF Ombudsman of complaints of maladministration
Investigation by PPF Ombudsman of complaints of maladministration 214 1 Regulations must provide for the investigation and determination by the PPF Ombudsman of such matters as may be prescribed…
Section 215 — Referral of questions of law
Referral of questions of law 215 The PPF Ombudsman may refer any question of law arising for determination in connection with— a a reviewable matter referred to him by virtue of regulations under…
Section 216 — Publishing reports etc
Publishing reports etc 216 1 If the PPF Ombudsman considers it appropriate to do so in any particular case, he may publish in such form and manner as he considers appropriate a report of any…
Section 217 — Determinations of the PPF Ombudsman
Determinations of the PPF Ombudsman 217 1 A person bound by a determination or direction by the PPF Ombudsman by virtue of regulations made under section 213 or 214 may appeal on a point of law…
Section 218 — Obstruction etc of the PPF Ombudsman
Obstruction etc of the PPF Ombudsman 218 1 This section applies if any person— a without lawful excuse obstructs the PPF Ombudsman in the performance of his functions, or b is guilty of any act or…
Section 219 — Backdating the winding up of eligible schemes
Backdating the winding up of eligible schemes 219 1 Subsection (3) applies where— a a qualifying insolvency event occurs in relation to the employer in relation to an eligible scheme, and b the…
Section 220 — Pension sharing
Pension sharing 220 1 Regulations may modify any of the provisions of this Part as it applies in relation to— a cases where a person’s shareable rights under an eligible scheme have (at any time)…
Section 221 — Pension schemes to which this Part applies
Pension schemes to which this Part applies 221 1 The provisions of this Part apply to every occupational pension scheme other than— a a money purchase scheme, or b a prescribed scheme or a scheme of…
Section 221A — Funding and investment strategy
Funding and investment strategy 221A 1 The trustees or managers must determine, and from time to time review and if necessary revise, a strategy for ensuring that pensions and other benefits under…
Section 221B — Statement of strategy
Statement of strategy 221B 1 The trustees or managers must, as soon as reasonably practicable after determining or revising the scheme's funding and investment strategy, prepare a written statement…
Section 222 — The statutory funding objective
The statutory funding objective 222 1 Every scheme is subject to a requirement (“the statutory funding objective”) that it must have sufficient and appropriate assets to cover its technical…
Section 223 — Statement of funding principles
Statement of funding principles 223 1 The trustees or managers must prepare, and from time to time review and if necessary revise, a written statement of— a their policy for securing that the…
Section 224 — Actuarial valuations and reports
Actuarial valuations and reports 224 1 The trustees or managers must obtain actuarial valuations— a at intervals of not more than one year or, if they obtain actuarial reports for the intervening…
Section 225 — Certification of technical provisions
Certification of technical provisions 225 1 When an actuarial valuation is carried out, the calculation of the technical provisions must be certified by the actuary. 2 The certificate must state that…
Section 226 — Recovery plan
Recovery plan 226 1 If having obtained an actuarial valuation it appears to the trustees or managers of a scheme that the statutory funding objective was not met on the effective date of the…
Section 227 — Schedule of contributions
Schedule of contributions 227 1 The trustees or managers must prepare, and from time to time review and if necessary revise, a schedule of contributions. 2 A “ schedule of contributions ” means a…
Section 228 — Failure to make payments
Failure to make payments 228 1 This section applies where an amount payable in accordance with the schedule of contributions by or on behalf of the employer or an active member of a scheme is not…
Section 229 — Matters requiring agreement of the employer
Matters requiring agreement of the employer 229 1 The trustees or managers must obtain the agreement of the employer to— za the scheme's funding and investment strategy, as set out in the scheme's…
Section 230 — Matters on which advice of actuary must be obtained
Matters on which advice of actuary must be obtained 230 1 The trustees or managers must obtain the advice of the actuary before doing any of the following— a making any decision as to the methods and…
Section 231 — Powers of the Regulator
Powers of the Regulator 231 1 The powers conferred by this section are exercisable where it appears to the Regulator with respect to a scheme (as a result of a report made to it or otherwise)— zza…
Section 231A — Requirements for winding up procedure
Requirements for winding up procedure 231A 1 Where an occupational pension scheme in respect of which a recovery plan has been prepared under section 226 begins to wind up during the recovery period,…
Section 232 — Power to modify provisions of this Part
Power to modify provisions of this Part 232 Regulations may modify the provisions of this Part as they apply in prescribed circumstances.