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The Occupational Pension Schemes (Employer Debt) Regulations 2005

S.I. 2005/678 · Made 11 March 2005 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 1 August 2022.

PENSIONS

Made 11th March 2005

Laid before Parliament 16th March 2005

Coming into force 6th April 2005

The Secretary of State for Work and Pensions, in exercise of the powers conferred upon him by sections 40(1) and (2), 49(2) and (3), 57(2) and (4), 60(2), 68(2)(e), 75(1)(b), (5), (6D)(b)(i) and (10), 75A(1) to (4), 89(2), 118(1), 119, 124(1), 125(3) and 174(2) and (3) of the Pensions Act 1995 M1 and of all other powers enabling him in that behalf, by this instrument, which is consequential on section 271 of the Pensions Act 2004 M2, and is made before the end of the period of six months beginning with the coming into force of that section, hereby makes the following Regulations:

Annotations to the whole text

Marginal citations

M1

1995 c. 26. Section 75 is amended by s.271 of the Pensions Act 2004 (c. 35). Section 75A is inserted by s.272 of the Pensions Act 2004. Section 89(2) is amended by paragraph 66 of Schedule 12 to the Pensions Act 2004. Section 124(1) is cited for the meaning it gives to “prescribed” and “regulations”.

M2

2004 c. 35. See section 120 of the Pensions Act 1995 which provides that the Secretary of State must consult such persons as he may consider appropriate before making regulations for the purposes of the provisions for the purposes of which these Regulations are made. This duty does not apply where regulations are made before the end of the period of six months beginning with the coming into force of any enactment on which the regulations are consequential.

Contents

  1. Part: Preliminary
  2. 1Citation, commencement, application and extent
  3. 2Interpretation
  4. 3Disapplication of the 1996 Regulations
  5. 4Schemes to which section 75 of the 1995 Act does not apply
  6. Part: Valuations
  7. 5Calculation of the amount of scheme liabilities and value of scheme assets
  8. Part: Multi-employer schemes
  9. 6Multi-employer schemes: general
  10. 6ZAEmployment-cessation events: general
  11. 6ZBEmployment-cessation events: exemptions
  12. 6ZCEmployment-cessation events: exemptions
  13. 6ZDEmployment-cessation events: exemptions
  14. 6AEmployment-cessation events: periods of grace
  15. 6BScheme apportionment arrangements
  16. 6CWithdrawal Arrangements
  17. 6DNotifiable events
  18. 6EFlexible apportionment arrangements
  19. 6FDeferred debt arrangement
  20. 7Approved withdrawal arrangements
  21. 7ARegulated apportionment arrangements
  22. 7BCalculation of amounts due from guarantors by virtue of regulation 7
  23. 8Single employer sections, multi-employer sections, etc
  24. Part: Former employers
  25. 9Frozen schemes and former employers
  26. Part: Money purchase schemes
  27. 10Money purchase schemes: fraud and levy deficiencies etc.
  28. 11Money purchase schemes: valuations etc.
  29. 12Multi-employer money purchase schemes
  30. 13Former employers of money purchase schemes
  31. Part: Other schemes treated as more than one scheme
  32. 14Schemes covering United Kingdom and foreign employment
  33. 15Schemes with partial government guarantee
  34. Part: Supplementary
  35. 16Modification of schemes: apportionment of section 75 debts
  36. 17Disregard of staying of voluntary winding up of employer for purposes of section 75 of the 1995 Act
  37. 18Consequential amendments
  38. 19Review
  39. Signature
  40. Schedule 1: Actuary’s Certificate of Total difference between Scheme Assets and Liabilities [and Liability share debt of Employer in a Multi-Employer Scheme] [delete as appropriate]
  41. Paragraph
  42. This certificate is subject to the Notes below
  43. 1 Comparison of value of scheme assets with amount of scheme liabilities
  44. 2 Multi-Employer Schemes: Employer's share of the difference on the liability share basis
  45. 3 Valuation principles
  46. 4 Approximations
  47. Paragraph
  48. Notes:
  49. Schedule 1A: Withdrawal Arrangements and Approved Withdrawal Arrangements
  50. 1Conditions for withdrawal arrangements and approved withdrawal arrangements
  51. 2Actuarial certificates
  52. 3Events for payment of amount B
  53. 4Calculation of amount A
  54. 5Calculation of amount B
  55. 6Approval of withdrawal arrangements in advance
  56. 7Replacement withdrawal arrangements
  57. Schedule 1B: Notifiable Events
  58. 1Paragraph 1
  59. 2Paragraph 2
  60. 3Paragraph 3
  61. Schedule 1CActuary’s Certificate for Withdrawal Arrangement Share or Approved Withdrawal Arrangement Share in Multi-Employer Scheme
  62. Paragraph
  63. Paragraph
  64. Paragraph
  65. Paragraph
  66. 1 Comparison of value of scheme assets with amount of scheme liabilities
  67. 2 Employer's withdrawal arrangements share or approved withdrawal arrangement share
  68. 3 Valuation principles
  69. Paragraph
  70. Paragraph
  71. Paragraph
  72. Paragraph
  73. Paragraph
  74. Paragraph
  75. Paragraph
  76. Paragraph
  77. Schedule 1DActuary’s Certificate for Amount B under a Withdrawal Arrangement or an Approved Withdrawal Arrangement in a Multi-Employer Scheme
  78. Paragraph
  79. Paragraph
  80. Paragraph
  81. Paragraph
  82. 1 Amount B
  83. Paragraph
  84. Paragraph
  85. Paragraph
  86. Paragraph
  87. Paragraph
  88. Paragraph
  89. Paragraph
  90. Paragraph
  91. Schedule 2: Consequential Amendments
  92. Part: The MFR Regulations
  93. 1Paragraph 1 Repealed
  94. Part: The Occupational Pension Schemes (Winding Up) Regulations 1996
  95. 2Paragraph 2
  96. Part: The Occupational Pension Schemes (Investment) Regulations 1996
  97. 3Paragraph 3 Repealed
  98. Explanatory note