Pensions Act 2004

Type Public General Act
Publication 2004-11-18
Last updated 2024-11-18
State In force
Department Statute Law Database
articles Not indexed
Reform history JSON API
1573

S. 90(2)(jc)(jd) inserted (11.2.2021 for specified purposes, 13.12.2021 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 13(2); S.I. 2021/1394, reg. 2(a)

1574

Words in s. 90(6) inserted (11.2.2021 for specified purposes, 13.12.2021 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 13(3)(b); S.I. 2021/1394, reg. 2(a)

1579

S. 80(1)(c)(i)-(vi) substituted for words (1.10.2021 except for the reference to the Pension Schemes Act 2021, Pt. 1, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1), Sch. 7 para. 7(3); S.I. 2021/950, reg. 2(4)(d); S.I. 2022/721, reg. 3(d)

1580

S. 93(2)(pb)-(pe) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 14(3); S.I. 2022/721, regs. 1(2), 3(a)

1581

S. 97(5)(tg)-(tk) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 15; S.I. 2022/721, regs. 1(2), 3(a)

1582

S. 13(7)(i) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 12; S.I. 2022/721, regs. 1(2), 3(a)

1583

Words in s. 93(2)(pa) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 14(2)(a); S.I. 2022/721, regs. 1(2), 3(a)

1584

Word in s. 93(2)(pa) omitted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by virtue of Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 14(2)(b); S.I. 2022/721, regs. 1(2), 3(a)

1585

S. 126(1A) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 16; S.I. 2022/721, regs. 1(2), 3(a)

1586

S. 249A(3)(f) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 17; S.I. 2022/721, regs. 1(2), 3(a)

1587

Word in s. 254(3)(d) omitted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by virtue of Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 18(a); S.I. 2022/721, regs. 1(2), 3(a)

1588

S. 254(3)(f) and word inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 18(b); S.I. 2022/721, regs. 1(2), 3(a)

1589

S. 318(3)(a)(xiv)(xv) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 20(a); S.I. 2022/721, regs. 1(2), 3(a)

1590

S. 318(3)(b)(xii) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 20(b); S.I. 2022/721, regs. 1(2), 3(a)

1591

Sch. 2 Pt. 4B inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 21; S.I. 2022/721, regs. 1(2), 3(a)

1592

S. 73(2)(db)(dc) inserted (1.10.2021 except for the insertion of s. 73(2)(dc), 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 111(2)(a), 131(1); S.I. 2021/950, reg. 2(3)(f); S.I. 2022/721, regs. 1(2), 3(b)

1593

S. 80A inserted (1.10.2021 except for the insertion of s. 80A(2)(a)(iv)(c)(vi), 1.8.2022 insofar as it inserts s. 80A(2)(c)(vi)) by Pension Schemes Act 2021 (c. 1), ss. 113, 131(1); S.I. 2021/950, reg. 2(3)(g) (with reg. 6); S.I. 2022/721, regs. 1(2), 3(c)

1595

Word in s. 73(2)(e) substituted (29.6.2022 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 111(2)(b), 131(1); S.I. 2022/721, regs. 1(2), 2(a), 3(b)

1597

Ss. 238D-238G inserted (11.2.2021 for specified purposes, 14.10.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 119(2), 131(1)(3)(a); S.I. 2022/1044, reg. 2(b)

1598

Sch. 1 para. 21(2)(ea)-(ec) inserted (11.2.2021 for specified purposes, 14.10.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 119(5), 131(1)(3)(a); S.I. 2022/1044, reg. 2(b)

1599

Ss. 238A-238C and cross-heading inserted (11.2.2021 for specified purposes, 14.10.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 118(2), 131(1)(3)(a); S.I. 2022/1044, reg. 2(a)

1600

S. 316(2)(ka) inserted (11.2.2021 for specified purposes, 14.10.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 118(3), 131(1)(3)(a); S.I. 2022/1044, reg. 2(a)

1601

S. 310(3)(b)(bi) inserted (11.2.2021 for specified purposes, 14.10.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 119(3), 131(1)(3)(a); S.I. 2022/1044, reg. 2(b)

1602

S. 316(2)(kb)(kc) inserted (11.2.2021 for specified purposes, 14.10.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 119(4), 131(1)(3)(a); S.I. 2022/1044, reg. 2(b)

1608
1612

S. 162(1)(c) omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 2(a)

1613

S. 316(2)(s) omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 2(b)

1614

Words in Sch. 7 para. 3(10) inserted (coming into force in accordance with reg. 1(b) of the amending S.I.) by The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(2)

1615

Words in Sch. 7 para. 3(10) omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(3)

1616

Word in Sch. 7 para. 10(8) omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(6)(a)

1617

Words in Sch. 7 para. 10(8) inserted (coming into force in accordance with reg. 1(b) of the amending S.I.) by The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(6)(b)

1618

Words in Sch. 7 para. 11(8) omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(3)

1619

Words in Sch. 7 para. 11(8) inserted (coming into force in accordance with reg. 1(b) of the amending S.I.) by The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(5)

1620

Words in Sch. 7 para. 14(9) omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(3)

1621

Words in Sch. 7 para. 14(9) inserted (coming into force in accordance with reg. 1(b) of the amending S.I.) by The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(5)

1622

Words in Sch. 7 para. 15(6) inserted (coming into force in accordance with reg. 1(b) of the amending S.I.) by The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(2)

1623

Words in Sch. 7 para. 15(6) omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(3)

1624

Words in Sch. 7 para. 19(8) inserted (coming into force in accordance with reg. 1(b) of the amending S.I.) by The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(2)

1625

Words in Sch. 7 para. 19(8) omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(3)

1626

Words in Sch. 7 para. 5(8) inserted (coming into force in accordance with reg. 1(b) of the amending S.I.) by The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(2)

1627

Sch. 7 para. 7(6) substituted (coming into force in accordance with reg. 1(b) of the amending S.I.) by The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(4)

1628

Words in Sch. 7 para. 8(8) inserted (coming into force in accordance with reg. 1(b) of the amending S.I.) by The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(5)

1629
1630
1631

Sch. 7 para. 24(3) omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(10)

1632

Sch. 7 para. 26 omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(11)

1633

Sch. 7 para. 26A omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(11)

1634

Sch. 7 para. 27 omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(11)

1635

Sch. 7 para. 28(4) omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 3(12)

1639

S. 316(2)(ia)-(ic) inserted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 11; S.I. 2024/451, reg. 2(b)

1640

Ss. 221A, 221B inserted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 2; S.I. 2024/451, reg. 2(b)

1641

Words in s. 224(8) substituted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 4(3); S.I. 2024/451, reg. 2(b) (with reg. 4)

1642

S. 224(7A) inserted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 4(2); S.I. 2024/451, reg. 2(b) (with reg. 4)

1643

S. 226(3A) inserted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 5; S.I. 2024/451, reg. 2(b)

1644

S. 80(1)(a)(iva) inserted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 10(b); S.I. 2024/451, reg. 2(b)

1645

S. 231(1)(zza) inserted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 7(2); S.I. 2024/451, reg. 2(b)

1646

S. 222(2A) inserted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 3(2); S.I. 2024/451, reg. 2(b) (with reg. 3)

1647

S. 60(2)(ca) inserted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 9; S.I. 2024/451, reg. 2(b)

1648

Word in s. 80(1)(a)(iv) omitted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by virtue of Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 10(a); S.I. 2024/451, reg. 2(b)

1649

Words in s. 222(3)(b) inserted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 3(3); S.I. 2024/451, reg. 2(b) (with reg. 3)

1650

S. 229(1)(za) inserted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 6; S.I. 2024/451, reg. 2(b)

1651

S. 231(2)(aa) inserted (11.2.2021 for specified purposes, 6.4.2024 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(b), Sch. 10 para. 7(3); S.I. 2024/451, reg. 2(b)

1652

Sch. 7 para. 25B(1)(d) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 9(a)

1653

Words in Sch. 7 para. 25B(4) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 9(b)

The Pensions Regulator

Non-executive functions

Annual reports to Secretary of State

Pension liberation: interpretation

Freezing orders

Effect of winding up order on freezing order

Appointments of trustees by the Regulator

Disqualification

Restoration orders: supplementary

Regulator’s right to apply under section 423 of Insolvency Act 1986

Duty to report breaches of the law

Duty to give notices and statements to the Regulator in respect of certain events

Approval of notices issued under section 122

Accounts and audit

Meaning of “employer” in Part 1 of the Pensions Act 1995

Requirement for member-nominated directors of corporate trustees

Requirement for knowledge and understanding: individual trustees

Payments made by employers to personal pension schemes

Winding up

Debt due from the employer when assets insufficient

Resolution of disputes

Investigations

Annual increase in rate of certain personal pensions

Annual increase in rate of certain personal pensions

Exemption from statutory revaluation requirement

Power to prescribe conditions by reference to Inland Revenue approval

Meaning of “stakeholder pension scheme”

Claims for certain benefits following termination of reciprocal agreement with Australia

General interpretation

Minor and consequential amendments

Dissolution of OPRA

Repeals and revocations

Inspection of premises: powers of inspectors

Insolvency practitioner’s duty to issue notices confirming status of scheme

Accounts and audit

Borrowing by trustees

Inalienability of occupational pension

Winding up

Debt due from the employer when assets insufficient

Resolution of disputes

Investigations

Power to increase pensions giving effect to pension credits etc

Exemption from statutory revaluation requirement

Exemption from statutory revaluation requirement

Meaning of “stakeholder pension scheme”

Claims for certain benefits following termination of reciprocal agreement with Australia

Repeals and revocations

Repeals and revocations

Minor and consequential amendments

Meaning of “employer” in Part 1 of the Pensions Act 1995

Payments made by employers and members to occupational pension schemes

Debt due from the employer when assets insufficient

Resolution of disputes

Annual increase in rate of certain personal pensions

Meaning of “working life” in Pension Schemes Act 1993

Power to prescribe conditions by reference to Inland Revenue approval

Financial assistance scheme for members of certain pension schemes

Consultations about regulations

Effect of discharge of liability during or immediately before assessment period

23A
  • (1) This paragraph applies if—
  • (a) at any time during the assessment period in relation to the scheme (or, if there has been more than one such assessment period, the last one) any liability to provide pensions or other benefits to or in respect of any member or members under the scheme is discharged by virtue of—
  • (i) regulations under section 135(4), or
  • (ii) the Board validating any action mentioned in section 135(9), or
  • (b) any such liability is discharged on the assessment date, but before the commencement of the assessment period,

and compensation is payable in accordance with this Schedule in respect of the pensions or other benefits (apart from this paragraph).

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