Wilberforce Chambers

This Practice Note, produced in partnership with Thomas Robinson of Wilberforce Chambers, covers the status of Financial Support Directions (FSDs) issued under the Pensions Act 2004 (PA 2004), more particularly the ranking of FSD liabilities in insolvency.

This Practice Note, produced in partnership with Thomas Robinson KC of Wilberforce Chambers, provides detail on the circumstances where the Pensions Regulator may issue a contribution notice (CN) or a financial support direction (FSD). These are often called the ‘moral hazard provisions’ of the Pensions Act 2004.

This Practice Note focuses on the role of the Determinations Panel of the Pensions Regulator, circumstances in which the Panel will exercise special functions of the Pensions Regulator and relevant procedures and practices. It also looks at the role of the Upper Tribunal, to whom determinations of the Panel may be referred.

This Practice Note, produced in partnership with Thomas Robinson of Wilberforce Chambers, considers the effect of a company’s insolvency on an occupational pension scheme in respect of which the company is the employer. It also notes consequences if the company is the trustee of the scheme. It does not consider multi-employer schemes.