Pensions wind-up assistance
4 Aug 08
Following consultation, the Pensions Regulator has published guidance to help trustees of occupational pension schemes meet Government expectations that key wind up activities are completed within two years, an approach broadly welcomed by industry
This expectation, set out in a joint statement by the regulator, the Pension Protection Fund (PPF) and the Financial Assistance Scheme (FAS) (as part of Department of Work and Pensions), forms part of an aligned approach to speed up the wind-up and passing through a PPF assessment period.
Tony Hobman, chief executive of the Pensions Regulator, said: “The wind-up guidance, alongside our trustee tool-kit learning modules, provides trustees with the support they will need when preparing for and undertaking a scheme wind-up. The aligned approach between the regulator, PPF and FAS will ensure consistency between the three organisations and maximise regulatory impact.”
The guidance is available on the TPR website.