Trump Administration Executive Order (EO) Tracker
Insights and Analysis
Introduction to pensions legislation for trustees
13 October 2021
There are two levels of legislation - primary legislation: high level statutes called "Acts", which are passed by both Houses of Parliament, and secondary legislation: created under delegated powers, usually by the relevant Secretary of State or HMRC. Secondary legislation often comes in the form of "Regulations" or "Orders" and contains the technical detail needed to support the high level principles contained in an Act.
The Courts do not create legislation but are frequently asked to interpret it.
Why should trustees be concerned with pension legislation?
Legislation can override a scheme's trust deed and rules, so it is important to be are aware of when and how this can happen and how it may affect the running of a particular scheme.
The main statutes which concern occupational pension schemes are:
- The Pension Schemes Act 1993
- The Pensions Act 1995
- The Welfare Reform and Pensions Act 1999
- The Pensions Act 2004
- The Finance Act 2004
- The Pensions Act 2008
- The Pensions Act 2014
- The Taxation of Pensions Act 2014
- The Pension Schemes Act 2015
- The Pension Schemes Act 2017
- The Financial Guidance and Claims Act 2018
- The Pension Schemes Act 2021
We have updated this briefing note to cover The Pensions Schemes Act 2021.
Authored by the Pensions Team.
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