# Pensions Act 1995, Section 88: Schedules of payments to money purchase schemes: supplementary.

Extent: E+W+S

(1) Where, in the case of an occupational pension scheme to which section 87 applies—
(a) there is a failure to pay on or before the due date any amounts payable in accordance with the payment schedule, and
(b) the trustees or managers have reasonable cause to believe that the failure is likely to be of material significance in the exercise by the Authority of any of their functions,
they must, except in prescribed circumstances, give notice of the failure to the Authority and to the members of the scheme within a reasonable period after the due date.
(2) Any such amounts which for the time being remain unpaid after that date (whether payable by the employer or not) shall, if not a debt due from the employer to the trustees or managers apart from this subsection, be treated as such a debt.
(3) Where any amounts payable in accordance with the payment schedule by or on behalf of the employer on the employer’s own account have not been paid on or before the due date, section 10 applies to the employer.
(4) If, in the case of an occupational pension scheme to which section 87 applies, subsection (1) is not complied with—
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) section 10 applies to any trustee or manager who has failed to take all such steps.

---
Source: https://www.legislation.gov.uk/ukpga/1995/26/section/88 (the official version)
Page: https://openlegislation.uk/pensions-act-1995/section-88
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.