Compromising section 75 debts—Bradstock agreements
Produced in partnership with Wyn Derbyshire of gunnercooke LLP
Compromising section 75 debts—Bradstock agreements

The following Pensions guidance note Produced in partnership with Wyn Derbyshire of gunnercooke LLP provides comprehensive and up to date legal information covering:

  • Compromising section 75 debts—Bradstock agreements
  • Bradstock agreements
  • Criticisms of Bradstock agreements
  • The post-5 April 2005 era
  • Notifiable event

FORTHCOMING DEVELOPMENT On 11 February 2019, the DWP published its response to the consultation ‘Protecting Defined Benefit Pension Schemes—A Stronger Pensions Regulator’ which followed the government’s White Paper ‘Protection Defined Benefit Pension Schemes’ (19 March 2018). The response set out the measures to be adopted to strengthen the powers of the Pensions Regulator (TPR) and sanctions, including by introducing new criminal offences targeting the mishandling of DB schemes. After a first failed attempt to legislate on these measures (through the Pension Schemes Bill 2019), the Pension Schemes Bill 2020 was reintroduced in Parliament on 7 January 2020. This 2020 Bill (which differs from its 2019 predecessor only in minor ways) seeks to introduce the criminal offence of avoiding a s 75 debt. A person will commit such an offence if, without reasonable excuse, they intentionally prevent the recovery of part or the whole of an employer’s s 75 debt, prevent such a debt from becoming due, compromise or settle the s 75 debt or reduce the amount of s 75 debt that would otherwise have become due. For more information on the detail of the changes outlined in the 2020 Bill, see News Analysis: The Pension Schemes Bill 2020 (Part 1)—strengthening TPR powers and sanctions.

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