GLOSSARY

Authorised employer payment definition

What does Authorised employer payment mean?

The rules governing payments by a registered pensions scheme to sponsoring employers and former sponsoring employers are referred to as the authorised employer payments.

Authorised employer payments are as follows: (1) public service scheme payments; (2) authorised surplus payments; (3) compensation payments; (4) authorised employer loans; (5) scheme administration employer payments; and (6) any other payment prescribed by Regulations.

In accordance with the Finance Act 2004, these are the only payments that an occupational registered pension scheme is authorised to make to a sponsoring employer.


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