template

Standard Trust Deed And Rules For Pension Scheme (Private Sector)

by
Genie Team
Genie Team
Oct, 10 2023

When to use this template

This legal template pertains to a Standard trust deed and rules for a pension scheme in the private sector under UK law. A trust deed is a legal document that sets out the terms and conditions of a trust, while rules define the structure, administration, and operation of the pension scheme.

The template outlines the specific legal provisions, regulatory requirements, and guidelines for establishing and managing a pension scheme for employees in the private sector according to UK law. It covers various essential aspects, such as eligibility criteria for scheme membership, contribution levels, investment strategies, benefits payable, and retirement age.

The trust deed and rules aim to ensure compliance with current legislation, industry best practices, and regulatory guidelines such as those set by the UK Pensions Regulator. They establish the fiduciary responsibilities and obligations of the scheme trustees, administrators, employers, and members involved in the pension scheme.

Overall, this legal template serves as a comprehensive framework for establishing and managing a compliant and well-structured pension scheme for private sector employees in the UK, providing clarity and legal certainty to all parties involved.

Key issues covered in this template

  • Age, shares, gifts over
  • Appoint adviser
  • Clause 23 benefits
  • Continuous service
  • Duty of confidentiality
  • Legal proceedings
  • Normal Pension Age
  • Seek consent
  • Unpaid leave
  • pension sharing
  • The Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations 2021

What to watch out for

  • The standard-form trust deed and rules for a private-sector occupational pension scheme providing benefits on a final-salary, career-average and money purchase basis

  • The scheme's trustees and the employer(s) who are party to the scheme

  • The scheme's beneficiaries (i.e. the members and their dependants)

  • The scheme's assets and how they are held/invested

  • The scheme's liabilities, including any unfunded benefits

  • The scheme's funding arrangements, including any deficit

  • The scheme's governing law and jurisdiction

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Used by

Author

Genie Team

Genie Team

@genieteam
Genie AI

The Genie Team consists of lawyers and paralegals. Our aim is to open source the law and provide high quality, regularly reviewed legal documents.

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Additional information

Business categories

Business activities

Relevant sectors

Agriculture, Forestry and Fishing

Mining

Construction

Transport

Wholesale

Manufacturing

Energy

Retail

Finance

Real Estate

Consumer, Public & Health Services

Media

Insurance

Legal Services

Education

Technology

Sport & Entertainment

Consultancy

Public Administration

Other

Relevant company sizes

1 - 3

20 - 49

250 - 999

4 - 19

50 - 249

1000 +

Governing law

England and Wales

Language

English UK

Gender neutral

Yes