Overview of the winding up of pension schemes including the potential causes of a scheme winding up and the process undergone by a pension scheme your scheme is winding up winding up a workplace pension scheme means closing the scheme and ending the trust. This guidance provides suggestions of good practice to help trustees and others meet the two year time frame in relation to winding up occupational pension schemes it concentrates on common complex areas that can delay the wind up rather than looking at each activity involved in the process. Winding up a pension scheme a scheme wind up is where the scheme ceases to exist the scheme assets will either be transferred to other pension schemes. A pension scheme wind up occurs when the pension scheme trustees decide to close the scheme reasons why trustees may decide to wind up a pension scheme the following are the most common reasons why trustees might decide to wind up a pension scheme. This practice note examines the steps necessary to wind up an occupational pension scheme as well as looking at typical trigger events that initiate winding up the note discusses the consequences for trustees and members including the actions trustees should take to distribute scheme assets according to the relevant order of priorities and to secure the schemes liabilities
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