Point in time view as at 03/04/2006.
Pensions Act 2004, Section 252 is up to date with all changes known to be in force on or before 04 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)Subsections (2) and (3) apply to an occupational pension scheme that has its main administration in the United Kingdom.
(2)If the scheme is not established under irrevocable trusts, the trustees or managers of the scheme must secure that no funding payment is accepted.
(3)If the rules stipulating—
(a)the benefits under the scheme, and
(b)any conditions subject to which benefits under the scheme accrue,
are not in force, or if those rules are not set out in writing, the trustees or managers of the scheme must secure that no funding payment is accepted.
(4)Subsection (2) or (3) does not apply to an occupational pension scheme if it is a prescribed scheme or a scheme of a prescribed description.
(5)Section 10 of the Pensions Act 1995 (civil penalties) applies to a trustee or manager of an occupational pension scheme that has its main administration in the United Kingdom if—
(a)subsection (2) or (3) requires the trustees or managers of the scheme to secure that no funding payment is accepted,
(b)a funding payment is accepted, and
(c)the trustee or manager has failed to take all reasonable steps to secure that no funding payment is accepted.
(6)In this section “funding payment”, in relation to a scheme, means a payment made to the scheme to fund benefits for, or in respect of, any or all of the members.
Commencement Information
I1S. 252 in force at 1.7.2005 for specified purposes by S.I. 2005/1720, art. 2(14), Sch. Pt. 1
I2S. 252 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
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