The Pensions Regulator

Stakeholder registration

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Other conditions

Schemes under deed poll

The managers of the scheme must ensure that there is a written statement of principles governing their decisions about the scheme’s investments. The content of the statement of investment principles is covered in regulation 9.

Trust scheme

A scheme established under trust must ensure that at least one third of the total number of trustees, or directors in the case of a corporate trustee, are independent. This means that the trustees must not be connected with, or an associate of any person providing services to or managing the scheme, except where those services are trustee services. Where the scheme has less than three trustees or directors, at least one trustee or director must be independent. The meaning of connected and associated persons is defined in Sections 249 and 435 of the Insolvency Act 1986 and Section 74 of the Bankruptcy (Scotland) Act 1985.

The trustees of the scheme must ensure that there is a written statement of principles governing their decisions about the scheme’s investments. The content of the statement of investment principles is covered in Section 35 of the Pensions Act 1995 for schemes established under trust.

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