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Pensions in 30: 14. Underfunded schemes
Manage episode 183644552 series 1460512
Key points
- Independent trustee of pension scheme may be appointed
- Other trustees' discretionary powers fall away
- Employer as sole trustee ceases to act
- Employer debt: Section 75 Pensions Act 1995 and Occupational Pension Scheme (Employer Debt) Regulations 2005 may apply
- Scheme may qualify for entry to Pension Protection Fund under Pensions Act 2004 Section 126 onwards
- Trustees will be unsecured creditors in employer's winding up unless they have previously obtained security (such as a charge over assets)
You can find this episode and the accompanying transcript on our website: https://gowlg.co/3DgLkH1
Gowling WLG is an international full-service law firm working across a range of industry sectors including real estate, government, financial services, life sciences and technology. We operate across the world with offices in the UK, Europe, Canada and the Middle East.
We regularly talk about a broad range of topics that may be of interest to you. Subscribe to receive our latest articles, podcasts and webinars straight to your inbox: https://gowlg.co/35efH2r
Alternatively, you can view our full selection of insights and resources here: https://gowlg.co/3IwEr41
Want to get to know us? Follow us on:
LinkedIn: https://gowlg.co/3hqmatB Twitter: https://gowlg.co/35Do0nY Facebook: https://gowlg.co/3th2w8N Instagram: https://gowlg.co/3tEf2iq
This podcast may contain information of general interest about current legal issues, but does not give legal advice.
51 episodes
Manage episode 183644552 series 1460512
Key points
- Independent trustee of pension scheme may be appointed
- Other trustees' discretionary powers fall away
- Employer as sole trustee ceases to act
- Employer debt: Section 75 Pensions Act 1995 and Occupational Pension Scheme (Employer Debt) Regulations 2005 may apply
- Scheme may qualify for entry to Pension Protection Fund under Pensions Act 2004 Section 126 onwards
- Trustees will be unsecured creditors in employer's winding up unless they have previously obtained security (such as a charge over assets)
You can find this episode and the accompanying transcript on our website: https://gowlg.co/3DgLkH1
Gowling WLG is an international full-service law firm working across a range of industry sectors including real estate, government, financial services, life sciences and technology. We operate across the world with offices in the UK, Europe, Canada and the Middle East.
We regularly talk about a broad range of topics that may be of interest to you. Subscribe to receive our latest articles, podcasts and webinars straight to your inbox: https://gowlg.co/35efH2r
Alternatively, you can view our full selection of insights and resources here: https://gowlg.co/3IwEr41
Want to get to know us? Follow us on:
LinkedIn: https://gowlg.co/3hqmatB Twitter: https://gowlg.co/35Do0nY Facebook: https://gowlg.co/3th2w8N Instagram: https://gowlg.co/3tEf2iq
This podcast may contain information of general interest about current legal issues, but does not give legal advice.
51 episodes
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