The way alleged pension liberation schemes were operated after their inception is evidence they are not occupational pension plans, a lawyer for The Pensions Regulator (TPR) has argued.
The High Court is currently hearing arguments from Pi Consulting, Dalriada Trustees TPR regarding the legal status of the nine schemes suspected of being liberation vehicles. Under Pensions Act legialation, certain criteria must be met regarding the purpose of a scheme in order for it to be deemed an occupational scheme. Earlier this week, counsel for Pi Consulting and Dalriada Trustees, which were appointed as independent trustees for the nine schemes in question following police action in May argued the schemes' legal status is confined to matters at their creation - and cannot be d...
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