The following Pensions precedent Produced in partnership with Wyn Derbyshire of gunnercooke LLP provides comprehensive and up to date legal information covering:
Note: the due diligence enquiries are drafted for the buyer and are general in scope. Not every enquiry is relevant to every pension scheme. In practice, they should be amended as necessary to reflect the circumstances of the relevant transaction (and relevant pension schemes).
Note: the definition of ‘Business’ and ‘Seller’ in this questionnaire intends to mirror the definition set out in the sale and purchase agreement of the actual business being acquired by the buyer. The buyer will not (usually) inherit the seller’s pension scheme in an asset sale.
Please list (a) all pension schemes to which the Seller is currently contributing (or would be contributing but for a contributions holiday) or otherwise participates in; (b) all life assurance schemes and/or other such protection schemes; and (c) any former pension schemes of the Seller that applied prior to the existing schemes
In relation to every pension or retirement benefit scheme or life assurance scheme and/or other such protection scheme affecting employees of the Business (including those registered pursuant to the Finance Act 2004 or otherwise) (each being a 'Scheme') please provide:
copies of all governing documentation, including copies of the trust deed and rules and other relevant documents, whether issued by the trustees of the Scheme or otherwise (such as explanatory booklets, announcements or other communications etc)
a list of all existing members
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