Description
Book SynopsisThe Pensions Act 2004 is the most substantial change to pension law and practice since the Pensions Act 1995. The new Act comes into force in stages from April 2005 and will sweep away large portions of the existing regulatory regime for pensions. Together with the government's tax simplification proposals, contained in the Finance Act 2004, they will radically alter the conditions under which UK occupational pension schemes will operate. This practical Guidecontains a copy of the Act and puts the provisions of the Act into context, providing a clear and concise explanation of the impact of the changes introduced. It is an invaluable resource for practitioners in the field.
Trade ReviewAbout two-thirds of this volume consists of the whole text of PeA 2004: one must be grateful that the commentary is no only shorter than the statute but much clearer. The table of contentsis helpfully laid to make its topics instantly apparent...This is good value. * New Law Journal *
Table of ContentsForeword by Nigel Waterson MP, Shadow Minister for Pensions ; 1. Introduction ; Implementation Timetable ; Commentary ; 2. The Pensions Regulator ; Introduction ; Structure and Organization of the Regulator ; Provision of Information and Notices ; Powers in Relation to the Conduct of Pension Schemes ; Moral Hazard Provisions ; Registration and General Powers ; Codes of Practice ; Exercise of Regulatory Function ; The Pensions Regulator Tribunal ; 3. The Pension Protection Fund ; Introduction ; The PPF Board - Establishment and Functions ; Summary of PPF Procedure ; Effect of Employer's Insolvency ; Eligible Schemes ; Duty to Assume Responsibility for a Scheme ; The Assessment Period ; Refusal to Assume Responsibility for a Scheme ; Reconsideration ; Closed Schemes and Winding Up ; Payment of Compensation ; The Fund ; The Levies ; 4. Fraud Compensation ; Introduction ; Cases where Fraud Compensation Payments can be made ; Fraud Compensation Payments ; Interim Payments ; Interaction with the Pension Protection Fund ; Fraud Compensation Fund ; Fraud Compensation Levy ; 5. Gathering Information ; Introduction ; Requirement to Disclose Information to the Board ; Powers of the Board to Obtain Information ; Penalties ; Disclosure of Information by the Board ; 6. Reviews, Appeals, and Maladministration ; Introduction ; Investigation of Complaints by the Board ; The PPF Ombudsman ; 7. Scheme Funding ; Introduction ; Statutory Funding Objective ; Statement of Funding Principles ; Agreement of the Employer ; Advice to the Actuary ; Powers for the Regulator ; 8. Financial Planning for Retirement ; Introduction ; Legislation ; 9. Miscellaneous Provisions ; Introduction ; Trustee Obligations ; Employer Obligations ; Scheme Modification ; Pension Disputes ; Scheme Design and Regulatory ; 10. Financial Assistance Scheme ; Introduction ; Framework Provisions for the FAS ; Practical Issues ; 11. Cross Border Activities within the European Union ; Introduction ; Legislation ; Commentary ; 12. State Pensions ; Introduction ; Legislation ; Commentary ; APPENDICES ; Appendix 1: Pensions Act 2004 ; Appendix 2: Useful Addresses ; Appendix 3: Useful Web References
