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The Pensions Regulator

Regulatory guidance

Regulatory guidance

Clearance

This guidance provides support to trustees and employers when dealing with events that may impact upon their pension scheme, and when applying for a clearance statement.

Queries and applications can be made by email to clearance@thepensionsregulator.gov.uk

Guidance issued: June 2009

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Key points

  • Clearance is the voluntary process for obtaining a clearance statement from the regulator.
  • A clearance statement is not approval of a transaction such as an acquisition or merger; rather it gives assurance that we will not use our anti-avoidance powers in relation to that transaction.
  • Clearance is relevant for those considering corporate transactions or scheme-related events which are materially detrimental to a defined benefit pension scheme and its members (known as 'type A events').
  • This guidance is primarily aimed at professional advisers, who should bring it to the attention of employers involved in schemes, as well as parties who are connected and associated with employers, and trustees.