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ARTICLE · 29 JULY 2021

Part 3 - Update On Antiavoidance Legislation And TPR's Role

Wedlake Bell LLP
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The new criminal offences and additional grounds for contribution notices ("CNs") under Pension Schemes Act 2021 are expected

United KingdomLitigation, Mediation & Arbitration
Clive Weber
Clive Weber

Recap

The new criminal offences and additional grounds for contribution notices ("CNs") under Pension Schemes Act 2021 are expected to take effect in about two months' time on 1 October 2021. Employers and trustees of DB schemes should ensure they are well prepared for these significant changes. For background click here to see our March 2021 Pensions Compass article.

Present state of play

Parts of the new provisions have been much criticised.

The DWP has responded by issuing revised draft Regulations for the new CN ground known as the "employer resources test".

TPR has issued a draft Code of Practice indicating the circumstances in which it is likely/unlikely to issue a CN, and is also likely to revise its draft Prosecution Policy for the criminal offences.

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