'The Pensions Act
2004'
The Pensions Act
2004 was granted Royal Assent on 18
November 2004. The Act has been designed
to improve protection for pension scheme
members. A simple guide has been produced
by the Department for Work and Pensions
which give a summary of the main measures
contained within it. The guide is
available on the internet at:
www.dwp.gov.uk. It can also be obtain by
calling 0845 731 3233 or by writing
to:
Pension Guide
NAT 5951
Ashby-de-la-Zouch
LE55 7QP
For those with a
speech hearing difficulty a textphone
service is available on 0845 604 0210. The
guide is also available in Welsh, on
audiotape and in Braille.
Full details of the
Pensions Act 2004 are available from the
HMSO website at: www.hmso.gov.uk
The Pension
Guide covers:
1. The Pension
Protection Fund.
2. The Pensions
Regulator.
3. The Financial
Assistance Scheme.
4. Preferential
liabilities and deficiencies in scheme
asset on winding up.
5. Requirement for
member-nominated trustees and
directors.
6. Obligations of
trustees of occupational pension
schemes.
7. Consultation by
employers.
8. Pension
protection on transfer.
9. Pension
protection on transfer of
employment.
10. Scheme
funding.
11. Modification of
pension rights.
Etc.
A timetable of
events has been produced with the first
event occurring in April 2005 when the
Pension Regulator is established. A number
of changes take place from then up until
April 2006.
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