UK Statutory Instrument
2005
United Kingdom
The Financial Assistance Scheme Regulations 2005
At a glance
What's here
2 compliance obligations
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Any Person 1
- Trustee 1
Other Acts binding the same actors
For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.
Any Person also bound by 2337 other Acts (top 5 shown)
- Human Medicines Regulations 2012 2012 169 duties
- Merchant Shipping Act 1995 1995 144 duties
- Insolvency (England and Wales) Rules 2016 2016 101 duties
- Road Traffic Act 1988 1988 95 duties
- Air Navigation Order 2016 2016 95 duties
Trustees also bound by 100 other Acts (top 5 shown)
- The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022 2022 37 duties
- The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 2013 26 duties
- Charities Act 2011 2011 26 duties
- Insolvency (England and Wales) Rules 2016 2016 21 duties
- The Pensions (Northern Ireland) Order 2005 2005 20 duties
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
Browse 90 other Schedules — structural / supplementary
In section 196 (use of information by the Board)—
In section 197 (restricted information)— (a) in subsections (1) and...
In section 198 (disclosure by the Board of restricted information...
In section 200(1) (disclosure by the Board of restricted information...
In section 201 (other permitted disclosures of restricted information by...
In section 202 (tax information)— (a) in each place it...
In section 203 (provision of information to members of schemes...
In section 204 (interpretation of sections 190 to 203)—
In paragraph 18(2) of Schedule 5 (delegation)—
In paragraph 22(7)(a) of Schedule 5 (accounts), for “the date...
In Schedule 6 (transfer of property, rights and liabilities to...
In section 85 (disclosure by the Regulator for facilitating the...
In section 88(4) (disclosure of tax information by the Regulator),...
In section 134 (directions)— (a) in subsection (1), for “there...
In section 135 (restrictions on winding up, discharge of liabilities...
In section 136 (power to validate contraventions of section 135)—...
In section 161 (effect of Board assuming responsibility for a...
In section 165 (guaranteed minimum pensions)— (a) in subsection (1)—...
In section 113 (investment of funds)— (a) at the beginning...
After section 114(4) (investment principles), insert— (4A) A statement of...
In section 115(1)(a) (borrowing), after “any of its functions”, insert...
In section 117(1)(b) (administration levy), after “section 116”, insert “except...
In section 119 (annual reports to Secretary of State)—
In section 168 (administration of compensation payable by the Board)—...
In section 190 (information to be provided to the Board...
In section 191 (notices requiring provision of information to the...
In section 192 (entry of premises to enable performance of...
In section 194 (warrants to enforce entry of premises and...
In section 195(1)(b) (offence of providing false or misleading information...
Introductory
Initial payments
Shared initial payments
Rounding
Actual pension
Annual redetermination
Qualifying members receiving pensions from the qualifying pension scheme
Active and deferred members
Bridging pensions
Pension payable at an age other than normal retirement age
Survivors of qualifying members
Payment for an entitlement under regulation 17C
Surviving dependants of qualifying members
Exclusion of certain benefits
Cap on expected pension and actual pension
De minimis rule
Annual increase to an annual payment
Introductory
Annual redetermination
Bridging pensions
Amount of an ill health payment
Amount of an ill health payment to a surviving dependant
Amount of an interim ill health payment
Amount of an interim ill health payment for a surviving dependant
Revaluation
Actuarial reduction
Modifications to Schedule 2
Cap on expected pension and actual pension
Rounding
Annual increase to an ill health payment
Introductory
Amount of an annual payment – qualifying members
Amount of an annual payment - survivors
Surviving Dependants
Rounding
Annual increases to an annual payment
Introductory
Qualifying members
Survivors
Surviving Dependants
Redetermination
Rounding
Annual increases to an annual payment
Introductory
Amount of an ill health payment – qualifying members
Amount of an ill health payment - survivors
Amount of an ill health payment - surviving dependants
Rounding
Annual increases to an ill health payment
Introductory
Qualifying members
Survivors
Surviving Dependants
Redetermination
Rounding
Annual increases to an ill health payment
Introductory
Amount of the payment where regulation 17G applies
Amount of the payment where regulation 17H applies
Annual increases
Scheme manager to obtain a valuation of assets and liabilities
- Obtain valuation of pension scheme assets and liabilities when instructed Trustee
Valuation of assets
- Valuation actuary must value pension scheme assets according to prescribed rules Any Person
Browse 50 other sections — procedural / definitional / commencement
Citation, commencement and extent
Interpretation
Commencement of winding up
Application of Parts 1 and 2 of the Act
Scheme manager
Functions of the Board of the Pension Protection Fund in relation to the financial assistance scheme
Financial and other arrangements to enable or assist the Board of the Pension Protection Fund to carry out its functions in relation to the financial assistance scheme
Use of information
Annual reports
Delegation
Qualifying pension schemes
Other schemes which are not qualifying pension schemes
Condition to be satisfied by employer
Condition to be satisfied: multi-employer schemes
Employer-related condition
Employer-related condition: multi-employer schemes
Insolvency events
Notification of details
Working with qualifying pension schemes
Payments in relation to administration or other costs
Qualifying members
Qualifying members for the purposes of section 286A
Insufficient assets
Survivors
Surviving dependants
Annual payments
Ill health payments
Meaning of “the FAS cap”
Interim ill health payments
Annual payments for certain applications in cases of severe ill health
Lump sum payments
Redetermination of an annual payment previously determined in accordance with Schedule 4
Redetermination of an ill health payment previously determined in accordance with Schedule 6
Payments to beneficiaries other than qualifying members, survivors and surviving dependants
Payments to qualifying members receiving a pension from the qualifying pension scheme before entitlement to an annual payment or ill health payment
Initial payments
Death benefit guarantees
Time and manner of payment: general provisions
Direct credit transfer
Application of this Part
Power of the scheme manager to determine the value of an asset
Approval of valuation
Binding valuation
Scheme manager calculations after a valuation
Determination of certain asset shares, notional pensions and survivor notional pensions
Transfer notice
Terms and conditions of contracts
Payments where amounts relating to money purchase benefits are transferred to the Secretary of State
Payments to estates where a person in receipt of a payment from a scheme dies prior to entitlement and prior to transfer of assets
Transfer of residual assets to the Secretary of State where Part 7 does not apply
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