The following Pensions practice note Produced in partnership with Wyn Derbyshire of gunnercooke LLP provides comprehensive and up to date legal information covering:
THIS PRACTICE NOTE APPLIES TO REGISTERED OCCUPATIONAL PENSION SCHEMES
In view of the complexity of modern-day pensions law and administration, it is unsurprising that trustees of occupational pension schemes generally appoint professional advisers to assist them when carrying out their duties. Furthermore, the trustees of most registered schemes are legally obliged to appoint certain professional advisers, although some schemes are exempt from such obligations, depending on the nature of the relevant pension scheme.
For more information, see Appointing professional advisers and other pension scheme advisers.
Professional advisers often found acting in relation to (defined benefit) occupational pension schemes include:
custodian of assets
Strictly speaking, there is no statutory requirement that trustees of registered pension schemes appoint legal advisers; however, if any person is appointed (other than by the trustees) as a legal adviser in relation to the scheme, and the trustees place reliance in the skill or judgement of that person, the trustees can be penalised under the provisions of the Pensions Act 1995, s 10. A similar point arises in respect of fund managers.
It is a statutory requirement that professional advisers to the scheme must be appointed in writing. The exact nature of the appointment letter will depend upon the type of adviser appointed, and the letter must
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction
The Public Private Partnership (PPP) models are a popular way for governments to involve private investment, expertise and risk in procuring infrastructure, with the potential to deliver a project more efficiently and economically. One of the most popular PPP models for procuring infrastructure
What is a company's constitution?A company’s 'constitution' is defined under the Companies Act 2006 (CA 2006) as including:•the company’s articles of association, and•any resolutions and agreements affecting a company’s constitutionThe CA 2006 definition of 'constitution' is not exhaustive and also
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.