Amending occupational pension schemes

This practice note considers the circumstances in which trustees and employers can amend the provisions of their occupational pension schemes. The note examines the position under trust law, highlighting the main cases about the scope of scheme amendment powers and the formalities required. The note also looks at the various statutory restrictions on exercising amendment powers, including the "subsisting rights" provisions in section 67 of the Pensions Act 1995, and the circumstances in which trustees may modify a scheme by resolution under section 68 of the Pensions Act 1995.

Ruth Bamforth, Barrister, Gordons LLP


 

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