Obtaining clearance from the Pensions Regulator
Produced in partnership with Vikki Massarano of ARC Pensions Law

The following Pensions practice note produced in partnership with Vikki Massarano of ARC Pensions Law provides comprehensive and up to date legal information covering:

  • Obtaining clearance from the Pensions Regulator
  • What is clearance?
  • When should a clearance application be made?
  • What are Type A events?
  • Employer-related Type A events
  • Scheme-related Type A events
  • Mitigating a Type A event
  • Who should make the application?
  • Trustee position
  • Making an application for clearance
  • More...

Obtaining clearance from the Pensions Regulator

STOP PRESS: The Pensions Regulator (TPR) has updated its clearance guidance to take account of the provisions of the Pension Schemes Act 2021 which came into force on 1 October 2021, including TPR’s new criminal powers to investigate and prosecute those who avoid employer debts to pension schemes or put savers’ pensions at risk, and two new tests in relation to its contribution notice power (the employer resources and employer insolvency tests). The updated guidance also reflects the way that both TPR and the market have developed since clearance was introduced in April 2005.

Clearance is the voluntary process of obtaining a clearance statement from TPR. A clearance statement gives assurance that, based on the information provided, TPR will not use its powers to issue a contribution notice, a financial support direction, or both, to the applicant(s) in relation to a defined benefit (DB) occupational pension scheme and a particular event (events include transactions, agreements, decisions, other acts and failures to act). However, a clearance statement will not bind TPR if circumstances are materially different from the contents of the application.

Among other things, the updated guidance states that:

any clearance statement will only be effective in relation to TPR’s contribution notice and/or financial support direction powers. It does not provide any reassurance in terms of any other of TPR’s powers, including its criminal

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