The following Pensions practice note provides comprehensive and up to date legal information covering:
The core role of the Pensions Regulator is to fulfil the statutory objectives set out in the Pensions Act 2004, s 5 (PeA 2004).
to protect the benefits of, or in respect of, members of occupational pension schemes
to protect the benefits of, or in respect of, members of personal pension schemes who are:
employees in respect of whom there are 'direct payment arrangements' (defined below), and
where the scheme is a stakeholder pension scheme, any other members
to reduce the risk of situations arising which may lead to compensation being payable from the Pension Protection Fund
to maximise compliance with auto-enrolment duties (for more information on which, see Practice Note: Auto-enrolment—an introduction
to promote and to improve understanding of the good administration of 'work-based pension schemes', ie:
an occupational pension scheme
a personal pension scheme where there are 'direct payment arrangements' (defined below) in respect of one or more members of the scheme who are employees, or
a stakeholder pension scheme
'Direct payment arrangements' is defined under the Pension Schemes Act 1993, s 111A(2) (PSA 1993) as arrangements under which contributions fall to be paid by or on behalf of the employer towards the scheme:
on the employer’s own account (but in respect of the employee), or
on behalf of the employee out of deductions from the employee's
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