- Latest available (Revised)
- Original (As enacted)
Pensions Act 1995, Section 25 is up to date with all changes known to be in force on or before 26 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
(1)If, immediately before the appointment of an independent trustee under [F1section 23(1)], there is no trustee of the scheme other than the employer, the employer shall cease to be a trustee upon the appointment of the independent trustee.
(2)While section 22 applies in relation to a scheme [F2and there is an independent trustee of the scheme appointed under section 23(1)]—
(a)any power vested in the trustees of the scheme and exercisable at their discretion may be exercised only by the independent trustee, and
(b)any power—
(i)which the scheme confers on the employer (otherwise than as trustee of the scheme), and
(ii)which is exercisable by him at his discretion but only as trustee of the power,
may be exercised only by the independent trustee.
F3...
(3)While section 22 applies in relation to a scheme [F4and there is an independent trustee of the scheme appointed under section 23(1), the independent trustee may not] be removed from being a trustee by virtue only of any provision of the scheme.
(4)If a trustee appointed under [F5section 23(1)] ceases to be an independent person [F6(within the meaning of section 23(3))], then—
[F7(a)he must as soon as reasonably practicable give written notice of that fact to the Authority, and]
(b)subject to subsection (5), he shall cease to be a trustee of the scheme.
(5)If, in a case where subsection (4) applies, there is no other trustee of the scheme than the former independent trustee, he shall not cease by virtue of that subsection to be a trustee until such time as another trustee is appointed.
[F8(5A)Section 10 applies to any person who, without reasonable excuse, fails to comply with subsection (4)(a).]
[F9(6)An order under section 23(1) may provide for any fees and expenses of the trustee appointed under the order to be paid—
(a)by the employer,
(b)out of the resources of the scheme, or
(c)partly by the employer and partly out of those resources.
(7)Such an order may also provide that an amount equal to the amount (if any) paid out of the resources of the scheme by virtue of subsection (6)(b) or (c) is to be treated for all purposes as a debt due from the employer to the trustees of the scheme.
(8)Where, by virtue of subsection (6)(b) or (c), an order makes provision for any fees or expenses of the trustee appointed under the order to be paid out of the resources of the scheme, the trustee is entitled to be so paid in priority to all other claims falling to be met out of the scheme’s resources.]
Textual Amendments
F1Words in s. 25(1) substituted (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 41(a); S.I. 2005/695, art. 2(7), Sch. 1
F2Words in s. 25(2) inserted (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 41(b)(i); S.I. 2005/695, art. 2(7), Sch. 1
F3Words in s. 25(2) repealed (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 41(b)(ii), Sch. 13; S.I. 2005/695, art. 2(7), Sch. 1
F4Words in s. 25(3) substituted (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 41(c); S.I. 2005/695, art. 2(7), Sch. 1
F5Words in s. 25(4) substituted (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 41(d)(i); S.I. 2005/695, art. 2(7), Sch. 1
F6Words in s. 25(4) inserted (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 41(d)(ii); S.I. 2005/695, art. 2(7), Sch. 1
F7S. 25(4)(a) substituted (6.4.2005) by Pensions Act 2004 (c. 35), ss. 36(4)(a), 322(1) (with s. 313); S.I. 2005/275, art. 2(7), Sch. Pt. 7
F8S. 25(5A) inserted (6.4.2005) by Pensions Act 2004 (c. 35), ss. 36(4)(b), 322(1) (with s. 313); S.I. 2005/275, art. 2(7), Sch. Pt. 7
F9S. 25(6)-(8) substituted for s. 25(6) (6.4.2005) by Pensions Act 2004 (c. 35), ss. 36(4)(c), 322(1) (with s. 313); S.I. 2005/275, art. 2(7), Sch. Pt. 7
Modifications etc. (not altering text)
C1Ss. 22-26 excluded (31.12.2000) by The Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations 2000 (S.I. 2000/3198), regs. 1(1), 2, Sch.
C2Ss. 22-26 modified (11.4.2005) by The Occupational Pension Schemes (Independent Trustee) Regulations 2005 (S.I. 2005/703), regs. 1(1), 10-12
Commencement Information
I1S. 25 in force at 6.4.1997 by S.I. 1997/664, art. 2(3), Sch. Pt. 3
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: