Point in time view as at 06/04/2017.
Pensions Act 2004, Cross Heading: Activities of occupational pension schemes is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)If an occupational pension scheme has its main administration in the United Kingdom, the trustees or managers of the scheme must secure that the activities of the scheme are limited to retirement-benefit activities.
(2)Subsection (1) does not apply to a scheme if it is a prescribed scheme or a scheme of a prescribed description.
(3)Section 10 of the Pensions Act 1995 (civil penalties) applies to a trustee or manager of a scheme to which subsection (1) applies if—
(a)the scheme has activities that are not retirement-benefit activities, and
(b)the trustee or manager has failed to take all reasonable steps to secure that the activities of the scheme are limited to retirement-benefit activities.
(4)In this section “retirement-benefit activities” means—
(a)operations related to retirement benefits, and
(b)activities arising from operations related to retirement benefits.
(5)In subsection (4) “retirement benefits” means—
(a)benefits paid by reference to reaching, or expecting to reach, retirement, and
(b)benefits that are supplementary to benefits within paragraph (a) and that are provided on an ancillary basis—
(i)in the form of payments on death, disability or termination of employment, or
(ii)in the form of support payments or services in the case of sickness, poverty or need, or death.
Commencement Information
I1S. 255 in force at 1.7.2005 for specified purposes by S.I. 2005/1720, art. 2(14), Sch. Pt. 1
I2S. 255 in force at 22.9.2005 in so far as not already in force by S.I. 2005/1720, art. 2(14), Sch. Pt. 1
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
