Debt on employer evolves again

Following last Autumn's consultation on draft regulations which would prevent a Pensions Act 1995 section 75 debt being triggered in two new sets of circumstances, final regulations have been laid and are due to come into effect on 6 April. The easements are being brought in as a response to industry concerns that section 75 was inhibiting genuine corporate restructurings. The final version of the regulations addresses some, but not all, of the comments raised at consultation and there are still concerns about how often the easements will in fact be used.

Wragge & Co's pensions experts look at the easements being introduced in this latest, and increasingly complicated, era in the history of section 75.