Pensions - Gowling Wlg

Key points Independent trustee of pension scheme may be appointed Other trustees' discretionary powers fall away Employer as sole trustee ceases to act Employer debt: Section 75 Pensions Act 1995 and Occupational Pension Scheme (Employer Debt) Regulations 2005 may apply Scheme may qualify for entry to Pension Protection Fund under Pensions Act 2004 Section 126 onwards Trustees will be unsecured creditors in employer's winding up unless they have previously obtained security (such as a charge over assets)